This week we look at:

  • IRS begins accepting 2022 income tax returns 
  • IRS opens up IRIS portal for electronic filing of information returns
  • Corporation forced to get private letter ruling on S election due to failure to obtain all required consents
Direct download: 2023-01-30_Welcome_to_IRIS.mp3
Category:general -- posted at: 7:26pm EDT

This week we look at:

  • IRS provides an extended due date for some in Alabama and Georgia impacted by storms
  • IRS announces 10 minute response time on Practitioner Priority Line
  • Taxpayer’s §401(k) distribution not excluded from income based on diabetes diagnosis
  • IRS releases auto depreciation limits under §280F for 2023
Direct download: 2023-01-23_IRS_Says_Phones_Are_Improving.mp3
Category:general -- posted at: 6:22pm EDT

This week we look at:

  • IRS begins accepting returns on January 23
  • California taxpayers get due dates delayed until May 15
  • Amended return research credit additional information requirements added to draft Form 6765 instructions
  • Employer provided housing not excluded from income under §119
  • No loss allowed on not quite worthless not really stablecoin
  • Appraisals required for donation of cryptocurrency
Direct download: 2023-01-16_The_IRS_Memos_on_Cryptocurrency.mp3
Category:general -- posted at: 9:13am EDT

This week we look at issues that arise with S corporations.

Direct download: 2023-01-09_S_Corporation_Warts_Review.mp3
Category:general -- posted at: 7:15pm EDT

Congress passed the SECURE 2.0 Act of 2022 that was signed into law on December 29, 2022. This program gives a brief overview of the provisions of this Act that will help tax professionals advise their clients about the impacts and opportunities found in this law.

Direct download: SECURE_2.0_Act_of_2022_Quick_Summary.mp3
Category:general -- posted at: 2:12pm EDT

This week we look at:

  • IRS to issue regulations for definitions for new clean vehicle credit
  • List published on IRS website to assist in determining if a vehicle could qualify for new clean vehicle credit
  • Incremental cost safe harbors for §45W commercial clean vehicle credit issued by IRS
  • 2023 mileage rates release
  • Final 2022 Schedule K-2 and K-3 Form 1065 instructions released
Direct download: 2023-01-03_Vehicle_Credit_Guidance_End_of_Year_Extravaganza.mp3
Category:general -- posted at: 11:06am EDT






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