This week we look at:

  • Loan Adviser Found Not Liable to Repay in FINRA Treated as Ordinary Income from Debt Forgiveness

  • IRS Raises Values Dramatically on Vehicles Eligible for Cents-Per-Mile and Fleet-Average Valuation Rules

  • Safe Harbor Issued on Charitable Contribution Credits Related to a Trade or Business

  • Revenue Procedure Issued to Deal with ADS Issues for Electing Farm and Real Property Businesses

  • IRS Publication Indicates Real Estate Agents/Brokers and Insurance Agents/Brokers are in a Specified Service Trade or Business

  • Proposed Regulations on Treating Sale of Partnership Interest as Effectively Connected to US Trade or Business

  • IRS Announces Plan to Issue Regulations on Two Special Enforcement Matters Under CPAR, as Well as CPAR Final Regulations

  • Annual Disclosure Revenue Procedure Updated by IRS

Copyright 2018, Kaplan, Inc.

Direct download: 2018-12-31-_Lump_of_Coal_for_Real_Estate_Agents_.mp3
Category:general -- posted at: 5:00pm EDT

This week we look at:

  • Just prior to the one year anniversary of TCJA, we finally get a Joint Committee staff Blue Book.on the law

  • Tax credits for purchases of Teslas are being phased-out during 2019

  • MFP payments found in IRS memorandum to be taxable income and part of self-employment income

  • Auto mileage rates for 2019 issued by the IRS

  • A management company that managed a marijuana dispensary was subject to the deduction disallowance rules of §280E

  • A limited amount of additional information released by the IRS on excess loss and NOL rules under TCJA

Copyright 2018, Kaplan, Inc.

Direct download: 2018-12-24_Feeling_Blue_Book_Over_the_Holidays.mp3
Category:general -- posted at: 5:43pm EDT

This week we look at:

  • IRS releases more proposed regulations

  • Lack of documentation dooms deduction for taxpayers

  • §199A final regulations sent to OIRA for review

  • Guidance issued on valuing employer-provided parking for parking lot tax

  • Relief given for some tax-exempt organizations first filing Form 990-T to pay parking lot tax

  • Taxpayers who were out of the country for much of the period of nonpayment still found to be responsible persons

Copyright 2018, Kaplan, Inc.

Direct download: 2018-12-17_All_We_Want_for_Christmas_Are_Our_199A_Final_Regulations.mp3
Category:general -- posted at: 12:33pm EDT

This week we look at the following items:

  • Wisconsin passes its version of an optional passthrough tax to get around SALT limits, but with a twist

  • Guidance released on Section 81(i) stock elections

  • Taxpayer finds you still need some documentation to claim cellular phone expenses

  • IRS fails to persuade Court that a taxpayer had changed its accounting method

  • A brief revisit to the Section 451(b) automatic change revenue procedure

  • Taxpayer warned about filing Tax Court petition primarily to delay collection

Copyright 2018, Kaplan, Inc.

Direct download: 2018-12-10SALTWorkaroundWisconsinStyle.mp3
Category:general -- posted at: 6:02pm EDT






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