This week we look at:

  • IRS wants preparers to advise clients to opt-in to IP-PIN program.
  • TAM holds that an activity that is treated as a material participation activity for five straight years under SPA test will be a material participation activity under the 5/10 test in year 6
  • Breadwinner not granted innocent spouse relief when she failed to inquire about or review return prepared by accountant spouse

Copyright 2022, Kaplan, Inc.

Category:general -- posted at: 7:17pm EDT

This week we look at:

  • Reconciliation bill talks stall in Congress
  • Taxpayer loses on charitable contribution deduction due to failure to give entire interest and lacking proper acknowledgment for donation to donor advised fund
  • Taxpayer not allowed to shorten statute for collections based on shortcomings in own OIC filings
  • No reasonable cause for failure to report distribution when 1099-R sent to wrong address

Copyright 2022, Kaplan, Inc.

Direct download: 2022-07-18_Lack_of_a_Form_1099_and_Reasonable_Cause_.mp3
Category:general -- posted at: 4:28pm EDT

This week we look at:

  • Discussions start up again for reconciliation bill.
  • IRS extends automatic late portability election relief to five years
  • Federal tax lien attached to payments being made to seller’s former spouse for alimony by business buyer
  • No reasonable cause for late payment and late filing

Copyright, Kaplan, Inc.

Direct download: 2022-07-11_IRS_Liberalizes_Late_Portability_Election_Relief.mp3
Category:general -- posted at: 7:19pm EDT

This week we look at:

  • Taxpayer Advocate Service begins accepting referrals on 2021 and earlier original & amended returns from Congressional offices
  • Car dealer had more than “some” guarantee of right to retain cash deposits
  • Fifth Circuit rules that substantial compliance on charitable donations cannot be sufficient for failure to follow the statute, as opposed to regulations
Direct download: 2022-07-05_TAS_Starts_Accepting_Referrals_from_Congress.mp3
Category:general -- posted at: 2:58pm EDT






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