Federal Tax Update Podcast

Nichols Patrick Weekly Tax Update 

With E. Lynn Nichols, CPA

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This week's podcast includes:

• California CPA Disbarred for Disreputable Conduct
• Only a Portion of Disability Benefits Excludable From Gross Income
• Offset of Self-Employment Tax Refunds Limited
• Domestic Corporation’s Attempt to Disguise Dividends From CFC Fails
• Requiring Joint Filing to Claim Adoption Credit Is Not Unconstitutional
• IRS Destroyed More Than 12,000 Reports of Fraud in Fiscal 2012

Nichols Patrick Weekly Tax Update 

With E. Lynn Nichols, CPA

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• Download citations

This week's podcast includes:

• D.C. Circuit Affirms S Corporation Loss Cannot Be Delayed, Penalty
• Cancellation of Notes Due From Partner Is Deemed Distribution
• Vehicle Service Contracts Qualify as Insurance
• S Corp Does Not Have More Than 1 Class of Stock
• “CARDS” Transaction Lacked Economic Substance
• Cancellation of Debt Not Compensation, No Accuracy-Related Penalty
• Advances to New Physicians Not Loans; Medical Clinic Denied Refund of FICA Taxes Paid
• Sole Shareholder's Compensation Unreasonable; Penalty Applies to Tax Underpayment
• IRS Fact Sheet Explains How to Report Natural Resources Income
• Reporting Requirements for Gifts From Foreign Individuals

Nichols Patrick Weekly Tax Update 

With E. Lynn Nichols, CPA

• Download podcast
• Download citations

This week's podcast includes:

• Book Publisher's Activities Are Not Production Activities
• Reporting Requirements for Condemnation Payments
• AIG Loses Summary Judgment Motion in Economic Substance Dispute
• Final Report on Retirement Plan Questionnaire Results
• 2013 Allowable Living Expense Standards
• Rental Losses Are Passive, Accuracy-Related Penalty Upheld
• CPA Firm Seeks Clarity In Proposed Net Investment Income Tax Regs
• Net Investment Income Tax May Not Qualify for Foreign tax Credit
• Sixth Circuit Affirms Enforcement of IRS Summons to Payroll Company
• Ninth Circuit Affirms Estate's Liability for Late-Filing Penalty
• Texas CPAs Say Repair Regs Fail to Reflect How Small Businesses Operate

Nichols Patrick Weekly Tax Update 

With E. Lynn Nichols, CPA

• Download podcast
• Download citations

This week's podcast includes:

• How to Dispute Employment Tax Assessment
• State Law Determines Who Can Bind Partnership
• Questionnaire Sent to Groups That Declare Themselves to Be Tax Exempt
• Tax Court Determines Reasonable Compensation for Corporate Officers and Employees, Then Determines Reasonable Rental for Warehouse and Office
• Transfer of Patents Was a Sale Subject to Amortization
• Payments for Compensatory Damages Are Ordinary Business Expenses
• Hawkins Elaborates on Conflicts of Interest
• Appeals Court Refuses to Lift Injunction on Return Preparer Regulations
• 2012 Employee Plans Issue Focus Paper on Plan Terminations