Federal Tax Update Podcast
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Federal Tax Update Podcast Series
Federal Tax Update Podcast
2w ago
This week we look at
Tax Court reverses position on validity of a regulation it had upheld four years ago
US Supreme Court hears oral arguments in case involving estate tax value of a corporation that received life insurance to redeem the majority shareholder’s estate
IRS Criminal Investigation Divisions announces update on COVID relief related investigations and convictions ..read more
Federal Tax Update Podcast
3w ago
This week we look at:
As ERC voluntary compliance program ended, IRS release discusses agency’s plans going forward
Senate Finance Chair Wyden indicates there be a cloture vote in the Senate on House passed tax bill
IRS issues proposed regulations to make SPA CRAT arrangements listed transactions
IRS asks Supreme Court to overturn Culp decision ..read more
Federal Tax Update Podcast
1M ago
This week we look at:
CTA found to violate Constitution by US District Court Tax Court issues ruling on impact of SECURE 2.0 Act statute change on returns filed before December 29, 2022 effective date of the Act IRS warns about need to reconcile premium tax credit on Forms 1040 after seeing an increase in the number of returns being filed without the required reconciliation ..read more
Federal Tax Update Podcast
1M ago
This week we look at:
CTA found to violate Constitution by US District Court
Tax Court issues ruling on impact of SECURE 2.0 Act statute change on returns filed before December 29, 2022 effective date of the Act
IRS warns about need to reconcile premium tax credit on Forms 1040 after seeing an increase in the number of returns being filed without the required reconciliation
  ..read more
Federal Tax Update Podcast
1M ago
This week we look at:
More BOI resources from CAMICO made available by NJCPA
District Court refuses to stay FBAR proceeding to await Tax Court result partially due to the age of the taxpayer
IRS announces program to go after corporate jet personal usage
The state of Arizona sues the IRS over tax status of state tax rebate ..read more
Federal Tax Update Podcast
2M ago
This week we look at:
Insurers updating their advice on BOI engagements
SALT cap 2023 increase bill fails on a procedural vote in the House
Jury finds taxpayer did not willfully fail to file FBAR reports
IRS takes position third party payors liable for ERC refund repayment in addition to common law employers
IRS sending out CP271 “soft letters” to those with open ERC refund claims
S corporation has a failure of 9 trusts receiving shares from decedent Taxpayer unsuccessfully argues she only should pay taxes on social security actually received ..read more
Federal Tax Update Podcast
2M ago
This week we look at
No movement on tax bills this week - nor is final action at all likely to take place before March
E-Filing returns - good or bad idea? Two competing articles published this week
Taxpayer owes tax on IRA forfeited to government as part of criminal conviction
IRS discusses when CID voluntary disclosure program should be used instead of ERC voluntary disclosure program
IRS warns about EFIN scam emails
Taxpayer found to have submitted a late new refund claim rather than a revision to a timely filed informal claim ..read more
Federal Tax Update Podcast
2M ago
This week we look at:
Bipartisan extender bill is passed by the House, but faces uncertain future in the Senate
A limited, single-year SALT cap relief bill will be brought to the House floor as part of the compromise to pass the bipartisan bill
Tax filing season for 2023 return begins this week
A cautionary tale about phishing being used to obtain client tax information ..read more
Federal Tax Update Podcast
2M ago
This week we look at a proposed tax bill that has advanced out of the House Ways & Means Committee.
Copyright 2024, Kaplan, Inc ..read more
Federal Tax Update Podcast
3M ago
This week we look at:
Talks continue on proposed tax bill
IRS provides guidance on Pension-Linked Emergency Savings Account anti-abuse provisions
Relief granted for filing information found in Part IV of Form 8308 for 2023 returns
IRS updates Notice describing how to obtain certain exemptions from the required electronic filing of certain entity information and tax returns ..read more