Current Federal Tax Developments for the week of July 29, 2019: 1982 Tax Form Nostalgia

  • IRS releases final regulations on §501(c)(4) notice
  • Taxpayers who paid certain French taxes may have refund opportunities
  • Six new compliance initiatives announced by IRS
  • Minor relief granted to file superseding returns to some CPAR covered partnerships
  • IRS releases a new draft version of Form 1099-NEC for the first time in 38 years

Copyright 2019 Kaplan, Inc.

Direct download: 2019-07-29_1982_Tax_Form_Nostalgia_Week.mp3
Category:general -- posted at: 5:42pm EDT

Current Federal Tax Developments for the week of July 22, 2019: The Short-Lived 1040 Postcard

  • Taxpayer who failed to file a signed Form 8332 with his return was denied the dependency exemption even though he eventually got a signed form
  • IRS updates list of allowed preventive care for high deductible health plans
  • IRS debuts new Form 1040-SR and revises Form 1040 to get rid of the postcard on draft 2019 forms the agency released

Copyright 2019 Kaplan, Inc.

Direct download: 2019-07-22_The_Short_Lived_1040_Postcard.mp3
Category:general -- posted at: 6:20pm EDT

This week we look at:

  • Taxes-Security-Together Checklist for tax professionals issued by the IRS

  • Tax Court found that taxpayer was victim of a bookkeeping error and had sent IRA rollover contribution to custodian, late rollover allowed

  • IRS discovers 31 years after the fact that a typo fix never was picked up in the Code of Federal Regulations

  • Frequently asked questions page issued to explain TCJA change to §704(d) partner basis limits on charitable deductions and foreign taxes

Copyright 2019, Kaplan, Inc.

Direct download: 2019-07-15_Fixing_Typos_Proves_to_Be_Hard.mp3
Category:general -- posted at: 8:19pm EDT

Update for the week of July 8, 2019. This week we look at:

  • The Taxpayer First Act of 2019, signed into law on July 1, 2019

  • The Supreme Court decides one trust due process case is enough for a single term

  • IRS proposed a change in MEP to allow a solution to the one bad apple problem

  • IRS goes back to issuing guidance via website FAQs, this time for QOFs

  • Employers will be able to truncate SSNs on W-2s given to employees--but not right away

  • IRS finalizes regulations barring partnerships from using disregarded entities to put partners on the payroll

Copyright 2019 Kaplan Professional Education

Direct download: 2019-07-08_Congress_Enacts_the_Taxpayer_First_Act_of_2019.mp3
Category:general -- posted at: 7:39pm EDT






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