This week we look at:

  • Proposed regulations issued for retirement plan forfeitures
  • OIRA completes review of crypto broker proposed regulations, expected to be issued shortly
  • IRS extends relief for taxpayers impacted by disasters in California, Alabama and Georgia
  • IRS issues final business electronic filing mandate regulations
Direct download: 2023-02-27_More_Information_Returns_Required_to_be_E-Filed.mp3
Category:general -- posted at: 5:55pm EST

This week we look at

  • IRS announces program to accept upload of documents in response to some, but not all, notices to taxpayers
  • SECURE 2.0 Section 603 drafting glitch puts catch-up contributions at risk for 2024 as various parties push to get a fix
  • IRS will not automatically challenge §199A deduction for cannabis businesses-but W-2 wage problems may get in the way

This week we look at:

  • IRS relents to pressure, releases guidance on state payment programs’ taxability (generally it’s good news)
  • IRS begins offering direct deposit for Form 1040-X electronic filers - but it will still take a long time to process
  • No substantive §174 guidance likely before initial tax deadlines (March & April)
  • Form 4868 didn’t qualify as informal claim for refund
Direct download: 2023-02-13_State_Payment_Relief_for_Taxpayers.mp3
Category:general -- posted at: 5:57pm EST

This week we look at:

  • IRS revises classification of clean vehicles for purposes of determining vehicles subject to $80,000 MSRP limit
  • Proposed revenue procedure published to establish new voluntary tip reporting procedure
  • Taxpayer’s log of every mile of vehicle use had issues that prevented Tax Court from accepting it for meeting burden under IRC §274(d)
Direct download: 2023-02-06_Reconsidering_EV_SUVs.mp3
Category:general -- posted at: 5:37pm EST

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