Federal Tax Update Podcast

With E. Lynn Nichols, CPA

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This week's podcast includes:

• Indemnity of a Partnership's Indebtedness Should Be Ignored, IRS Advises
• Cash Settlement Payment Won't Be Treated as Other Than Voting Stock
• Subsidiaries Will Be Treated as Having Joined Consolidated Return
• Couple Liable for Self-Employment Taxes on Payments From USDA Conservation Reserve Program
• LB&I Issues Memorandum on Information Document Requests
• Tax Court Finds IRS Positions Justified, Denies Corporation Litigation Costs
• IRS Analysis Finds Positive Results From Return Preparer Oversight
• IRS Provides Information on Professional Responsibility and FBAR Filing Requirements

With E. Lynn Nichols, CPA

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• Download citations

This week's podcast includes:

• Collaboration Is a Partnership
• Reminder - IRS Needs Judicial Approval to Levy a Principal Residence
• Website Service Provider Denied Exempt Status . . . . 1 of 3 exemption rulings
• Organization Supporting Polygamy Not Entitled to Tax-Exempt Status
• Veterans Group Loses Tax-Exempt Status
• NASBA advises private companies not to use the AICPA’s financial reporting framework for small and medium-sized entities
• Abandonment of Property, Foreclosure of Mortgage Resulted in Capital Gain
• Dentist Not Allowed to Deduct Expenses Incurred While Traveling to Work
• Partner Not Allowed to Report Sale of Unrealized Receivables Under Installment  Method

Federal Tax Update Podcast

With E. Lynn Nichols, CPA

• Download podcast
• Download citations

This week's podcast includes:

• Purported Management Fee Payments Weren't Deductible
• Independent Contractor Can't Deduct Travel Expenses
• Real Estate Activity Was Passive; Rental Property Losses Disallowed
• No Carryover Deductions From Conservation Easement Contribution
• Bankruptcy Court Denies Confirmation of Debtor's Plan for Not Including Future Tax Refunds
• Payment to Former Spouse Not Alimony; No Penalty Imposed
• Finance Committee Releases Tax Reform Paper on Income and Business Entities
• Salesman Denied Deductions for Employee Business Expenses
• Wells Fargo Not Required to Turn Over Some Tax Accrual Workpapers to IRS

Federal Tax Update Podcast

With E. Lynn Nichols, CPA

• Download podcast
• Download citations

This week's podcast includes:

• Distribution of Foreign Company Stock Is Indirect Disposition of Intangible Property
• Settlement Agreement Does Not Result in Self-Dealing
• Relief for Single Rental Real Estate Activity Treatment Available At Appeals
• New Draft Form for Reporting Specified Foreign Financial Assets
• Supreme Court Denies Cert in Historic Boardwalk
• Individual Granted Equitable Innocent Spouse Relief
• Partnership Continues Following Series of Transactions That Make It A Single Member Entity