This week we look at:

  • Taxpayer finds expense can’t be assigned to business based on best result

  • IRS greatly expands the FAQ on Section 199A, including a major surprise to many on handling S corporation shareholders

  • IRS updates the EPCRS program to add more self-correction options

  • Chief Counsel Email holds that using a PEO does not allow a partner to be treated as the employee of partnership

Copyright 2019, Kaplan, Inc.

Direct download: 2019-04-29_QA_33_-_The_IRS_FAQ_Says_What.mp3
Category:general -- posted at: 1:08pm EDT

This week we look at the following

  • Draft forms issued to be used to report §199A deduction on 2019 returns

  • Proposed regulations address NRA potential current beneficiaries of ESBTs that are also grantor trusts

  • Memorandum address impact of §318 attribution rules on §1372 and self-employed health insurance deduction

  • Second (and maybe final) set of proposed regulations on opportunity zone issues

  • Ninth Circuit decides IRS regulations did remove the ability to use common law mailbox rule to prove timely filing

Copyright 2019, Kaplan, Inc.

Direct download: 2019-04-22_IRS_Gets_Busy_After_Tax_Season.mp3
Category:general -- posted at: 10:10am EDT

This week we review where we stand on TCJA guidance at the end of the first TCJA tax season.

  • §199A - Mainly Post-Final Regulation Issues
  • §163(j) - Proposed Regulations Out, Awaiting Final Regulations
  • Depreciation - Will the Retail Glitch Get Fixed? And When?
  • SALT - Soon to be released final regulations on state tax credits and then what
  • §461(j) - Limit on business losses - where’s the guidance
  • Other areas

Copyright 2019, Kaplan, Inc.

Direct download: 2019-04-16_Still_to_Come_on_TCJA.mp3
Category:general -- posted at: 5:47pm EDT

Current Federal Tax Developments for the week of April 8, 2019: SALT and the Home Office

  • IRS sends proposed regulations on §199A for cooperatives to OIRA for review

  • PMTA outlines intereaction of home office and SALT cap

  • Trade or business definition for instructions in Form 461 issue identified by IRS

  • Second Circuit reverses Tax Court decision that found a tax “black hole”

Copyright 2019 Kaplan, Inc.

Direct download: 2019-04-08_SALT_and_the_Home_Office.mp3
Category:general -- posted at: 10:17am EDT






April 2019
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