Federal Tax Update Podcast

This week we look at:

• Looking for a trade or business is not itself a trade or business.
• IRS describes a harsh result for taxpayers that make a late deposit of deferred CARES Act FICA

This week we look at:

• Safe harbor guidance for PPP forgiveness and certain grants for reduction in revenue test for ERC
• Auto depreciation limits announced for 2021
• Taxpayers barred from producing evidence letter with no postmark applied was placed in mail by due date by US Court of Claims, even though the Tax Court allows such evidence

Copyright 2021, Kaplan, Inc.

This week we look at:

• This week we look at: IRS issues ERC guidance for 3rd/4th quarter and adds to other guidance - confirms issue for majority shareholders IRS memorandum pushes
• IRS position regarding conservation easement extinguishment clauses
• Best-selling author loses her appeal of Tax Court decision regarding her attempt to split off most of her publishing contract income from self-employment tax

Copyright 2021, Kaplan, Inc.