This week we look at:

  • IRS reduces PTIN fees substantially
  • Wash sale rules do not apply to losses on disposition of money market funds
  • IRS highlights new capabilities added to TaxPro accounts
  • Employers can set up leave-based donation programs for 2023 Hawaii wildfire relief
  • FinCEN grants 60 additional days for entities created in 2024 to file initial reports
Direct download: 2023-09-30_Limited_Dealy_in_Some_CTA_BOI_Initial_Report_Filing_Dates.mp3
Category:general -- posted at: 4:39pm EDT

This week we look at:

  • FinCEN provides guide to small businesses for beneficial ownership reporting under the Corporate Transparency Act
  • Taxpayer cannot rely on the mailbox rule to prove timely mailing/filing of tax return, as §7502 is the sole way of proving timely postmark and get presumption of delivery
  • Impact of receipt of a CP2100/2100A notice on backup withholding
Direct download: 2023-09-25_FinCEN_Issues_Guide_for_Small_Business_CTA_BOI_Reporting.mp3
Category:general -- posted at: 5:37pm EDT

This week we look at:

  • Just having a CPA prepare a taxpayer’s return does mean the taxpayer will get reasonable cause relief for assessments
  • IRS announces halt to processing of new ERC claims until after 2023, will slow processing of claims currently in progress
Direct download: 2023-09-18_Halt_in_ERC_Claim_Processing_for_New_Claims.mp3
Category:general -- posted at: 4:48pm EDT

This week we look at:

  • IRS make last minute change to K-2/K-3 FAQ for 2022 returns
  • Preliminary guidance for §174 changes made in TCJA that took effect in 2022 issued by the IRS

Copyright 2023, Kaplan, Inc.

Direct download: 2023-09-11_Better_Late_Than_Never_Section_174_Guidance_Arrives.mp3
Category:general -- posted at: 6:11pm EDT

This week we look at:

  • HHS sends letter to DEA recommending that marijuana be reclassified as a Schedule III drug
  • General guidance issued determining tax status of 2023 state payments - and IRS asks for comments prior to giving additional guidance
  • IRS clarifies limits of 2007 CCA on ESBTs and NOLs
  • News release on electronic filing of Form 8300


Direct download: 2023-09-05_Electronic_Filing_of_Information_Return_Mandate_Issues.mp3
Category:general -- posted at: 3:10pm EDT






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