This week we look at:

  • Proposed regulations issued for digital asset broker reporting on Form 1099-DA
  • IRS delays requirement for high income employees to make employer plan catch-up contribution to designated Roth accounts until plan years beginning after December 31, 2025
  • 2024 health care premium tax credit percentages published by the IRS
Direct download: 2023-08-28_Week_of_IRS_Delaying_Requirements.mp3
Category:general -- posted at: 6:42pm EDT

This week we look at:

  • Limited relief likely coming for beneficial ownership reporting
  • IRS being challenged in an attempt to treat state law limited partners as receiving SE income
  • Rent your home to your business for 13 days each year plan mainly failed
  • Advance memo states IRS objection to a marketed trust tax avoidance plan
  • IRS memo explains credit unions can only claim COVID ERC on 2021 wages

This week we look at:

Deduction for non-qualified deferred compensation not accelerated for the seller when the liability is transferred to the buyer of a business 
Tax professionals and taxpayers warned about issues with certain employee stock ownership plan (ESOP) arrangements
Reduction of non-recourse debt amount was added to sales proceeds, not a cancellation of debt so no §108 relief was available

Direct download: 2023-08-14_IRS_Issues_Warning_for_Certain_ESOP_Programs.mp3
Category:general -- posted at: 7:39pm EDT

This week we look at:

  • IRS rules cryptocurrency staking rewards are taxable when taxpayer obtains dominion and control
  • Interim guidance issued for home energy audit tax credit under IRC §25C added by IRA 2022
  • Proposed regulations issued to add monetized installment sales to listed transactions
Direct download: 2023-08-07_IRS_Finally_Tells_Us_Their_Position_on_Staking_Rewards.mp3
Category:general -- posted at: 7:07pm EDT






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