https://vimeo.com/1030183814?share=copy#t=0 https://www.currentfederaltaxdevelopments.com/podcasts/2024/11/16/2024-11-18-end-of-partnership-suspense-account-at-the-irs This week we look at: IRS may stop putting “taxpayer may rely” statements on proposed regulations Tax Court rules partnership basis calculations are cumulative in nature and not stan…

https://vimeo.com/1028043753?share=copy#t=0 https://www.currentfederaltaxdevelopments.com/podcasts/2024/11/9/2024-11-11-post-election-issue-on-tax-bills-and-the-reconciliation-process This week we look at the rules involving the reconciliation process in Congress, the path that it appears most likely any tax bill enacted to deal with the expiration…

https://vimeo.com/1026160940?share=copy#t=0 https://www.currentfederaltaxdevelopments.com/podcasts/2024/11/4/2024-11-04-retirement-plan-inflation-numbers This week we look at: Retirement plan limits announced by the IRS, basically completing the tax inflation adjustments for 2025 IRS emailed Chief Counsel Advice outlines dealing with SECA and the n…

https://vimeo.com/1023562580?share=copy#t=0 https://www.currentfederaltaxdevelopments.com/podcasts/2024/10/26/2024-10-28-current-federal-tax-developments This week we look at: IRS releases inflation adjusted numbers for most items aside from retirement plans for 2023 IRS has more bad news for those who fail to pay over trust fund taxes to pay other…

https://vimeo.com/1021533441?share=copy#t=0 https://www.currentfederaltaxdevelopments.com/podcasts/2024/10/20/2024-10-21-staking-returns-for-one-more-try-at-court This week we look at: S corporation finds multiple ways to terminate its S status, asks IRS forgiveness which is granted IRS rules condoms are medical expenses for tax purposes IRS adds i…

https://vimeo.com/1007507701?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2024/9/9/2024-09-09-more-boi-report-issues This week we look at: Additional BOI clarifications from online discussions regarding a CPA firm’s reporting obligations and confusions about reporting by entities that don’t register with a state for formation b…

https://vimeo.com/1005595174?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2024/9/2/2024-09-03-boi-review-time This week we look at: DOJ has scheduled a December 2 hearing on the proposed rule to reschedule marijuana BOI reporting confusions that keep coming up as questions in online discussions - time to review…

https://vimeo.com/1002280262?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2024/8/24/2024-08-26-irs-erc-notices-of-denial-comments-of-the-taxpayer-advocate This week we look at: IRS announces the reopening of the ERC Voluntary Disclosure Program on somewhat less generous terms then the first program provided National Taxpayer Ad…

https://vimeo.com/997531886?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2024/8/11/2024-08-12-internet-frauds-and-section-165 This week we look at Online scams and tax deductions - why how that online scammer you found on a dating site manages to take your money can make a big tax difference IRS announces next steps in ERC prog…

https://vimeo.com/994852292?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2024/8/4/2024-08-05-house-passed-tax-bill-fails-to-clear-cloture-vote-in-the-senate This week we look at: Tax bill fails to clear a procedural vote in the Senate, reducing the likelihood we’ll see the bill enacted before this Congress leaves office US Dist…

https://vimeo.com/991337750?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2024/7/28/2024-07-29-more-irs-erc-guidance This week we look at: FinCEN adds two more questions to BOI FAQ page IRS adds five new warning signs for problematic ERC claims and announces new developments coming in ERC enforcement Chief Counsel Memorandum out…

https://vimeo.com/988144718?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2024/7/21/2024-07-22-ira-finalizes-rmd-regulations This week we look at: Taxpayer can’t simply rely on tax software when preparing their return, even if they aren’t being nominated for Secretary of Treasury IRS finalizes SECURE Act/SECURE 2.0 Act required …

https://vimeo.com/983707444 https://www.currentfederaltaxdevelopments.com/podcasts This week we look at: FinCEN updates the FAQs for BOI reporting, adding information about entities that cease to exist New Jersey Committee on Unauthorized Practice of Law releases letter outlining when CPAs and EAs may prepare and/or file BOI reports for clients wit…

https://vimeo.com/980129130?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2024/7/7/2024-07-08-supreme-court-makes-it-easier-to-challenge-regulations This week we look at End of term US Supreme Court cases that will likely impact challenges to Treasury regulations, overturning the concept of Chevron deference and extending the st…

https://vimeo.com/972556461?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2024/6/30/2024-07-01-irs-to-eventually-automate-fta-relief This week we look at: Ninth Circuit rules that statute of limitations for the IRS to sue for recovery of erroneous refund begins when the check clears the Federal Reserve and is approved for paymen…

https://vimeo.com/966201086?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2024/6/23/2024-06-24-supreme-court-upholds-the-965-transition-tax This week we look at: The Supreme Court rules, in a more divided than it may appear opinion, that the §965 transition tax is Constitutional, sustaining the result from the Ninth Circuit in t…

https://vimeo.com/959844883?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2024/6/16/2024-06-17-do-not-believe-your-chatbot-on-tax-matters This week we look at: IRS provides last minute relief for payment of second quarter corporate estimated tax payments related to corporate alternative minimum tax En-banc rehearing request deni…

https://vimeo.com/955638540?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2024/6/9/2024-06-10-estate-tax-problems-for-buy-sells-funded-by-life-insurance This week we look at: US Supreme Court rules that a requirement to redeem the decedent’s shares cannot be considered to reduce the value of the entity, but life insurance procee…

https://vimeo.com/952942911?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2024/6/2/2024-06-03-llc-as-an-s-corporation-issue This week we look at: IRS announces that Direct File will continue into 2025 and be expanded while maintaining other program A taxpayer finds its not so simple as just file a Form 2553 if you want to have a…

https://vimeo.com/950819978?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2024/5/27/2024-05-27-misleading-silences-are-sometimes-fine-in-tax This week we look at: Yet another PLR requested for missed QSST election after S shares moved to trust following death of a shareholder Tax preparer’s conviction for willfully filing false …

https://vimeo.com/947543909?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2024/5/17/2024-05-20-erc-battles-continue This week we look at: DOJ issues proposed rule that would remove cannabis businesses from loss of most business deductions under IRC §280E Filing date relief issued for those impacted by Ohio tornadoes from March I…

https://vimeo.com/945334377?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2024/5/12/2024-05-13-changes-to-cafs-and-process-for-tax-pros-to-obtain-transcripts This week we look at: IRS gives update on final results for ERC voluntary compliance program and discusses the future The taxpayer’s contract did not make payment contingen…

https://vimeo.com/943025614?share=copy https://www.currentfederaltaxdevelopments.com/podcasts This week we look at: IRS releases Fact Sheet on disaster provisions for retirement accounts added by SECURE 2.0 Act DC Circuit reverses Tax Court ruling that IRS does not have assessment authority for failure to file a report under IRC §6038(b) (Form 5471…

https://vimeo.com/940427506?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2024/4/28/2024-04-29-no-minimum-attention-required-for-supervisor-approval-of-penalties-per-tax-court This week we look at: Final regulations issued on credit transfer provisions of the Inflation Reduction Act Tax Court rules the law does mandate a minimum…

https://vimeo.com/937007922?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2024/4/20/2024-04-22-irs-extends-limited-rmd-relief-but-warns-they-expect-this-to-be-the-last-time This week we look at: IRS again waives penalties for certain RMD distributions for inherited IRAs and retirement plans, but indicates this should be the last…

https://vimeo.com/929341969?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2024/3/31/2024-04-01-tax-court-reverses-position-on-validity-of-conservation-easement-regulation 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 involvi…

https://vimeo.com/926912400?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2024/3/24/2024-03-25-erc-voluntary-disclosure-program-is-over-what-next 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 …

https://vimeo.com/924422473?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2024/3/17/2024-03-18-last-call-to-enter-erc-voluntary-disclosure-program This week we look at: FinCEN gives formal notice of appeal of CTA BOI case Deadline rapidly approaching for entering first ERC voluntary disclosure program Arizona lawmakers write the…

https://vimeo.com/921816386?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2024/3/10/2024-03-11-fincen-announces-enforcement-reaction-to-alabama-case This week we look at: FinCEN announces position on handling BOI enforcement following National Small Business United v. Yellen IRS issues warning about companies peddling “doctor’s …

https://vimeo.com/918946036?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2024/3/3/2024-03-04-court-questions-constitutionality-of-the-cta 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 effec…

https://vimeo.com/916512887?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2024/2/25/2024-02-26-more-boi-information-from-insurer 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 announ…

https://vimeo.com/914227666?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2024/2/18/2024-02-19-insurers-update-boi-guidance 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 IR…

https://vimeo.com/911904537?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2024/2/10/2024-02-12-are-you-giving-bad-advice-on-electronic-filing 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 publishe…

https://vimeo.com/909818314?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2024/2/4/2024-02-05-more-movement-on-proposed-retroactive-tax-bills 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 flo…

https://vimeo.com/907062093?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2024/1/28/2024-01-29-bipartisan-retroactive-tax-bill-clears-ways-and-means-committee This week we look at the proposed tax bill that advanced out of the Ways & Means Committee on January 19.Kirjoittanut FICPA Podcasts

https://vimeo.com/902770920?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2024/1/14/2024-01-16-form-8308-relief 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 …

https://vimeo.com/900422582?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2024/1/7/2024-01-08-irs-mistake-stands-as-taxpayer-benefits This week we look at: New work in progress to try and obtain a bipartisan tax bill IRS gives car dealers a brief extension to file time-of-sale reports IRS reverses direction on treatment of impac…

https://vimeo.com/899057129?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2024/1/1/2024-01-02-fincen-welcomes-2024-by-opening-boi-filing-site This week we look at FinCEN's release of the BOI E-Filing site on January 1, 2024.Kirjoittanut FICPA Podcasts

https://vimeo.com/895535223?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2023/12/17/2023-12-18-fincen-boi-week This week we look at: FinCEN adds more information to FAQ page, including information on PDF form Bill passes House that would give a limited extension of time for some initial BOI reports to be filed IRS releases mile…

https://vimeo.com/893131581?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2023/12/10/2023-12-11-first-erc-challenge-in-court This week we look at: IRS sends out a batch of 20,000 ERC rejection letters Employer files suit claiming IRS ERC guidance violated the Administrative Procedures Act SCOTUS hears oral arguments in the Moore…

https://vimeo.com/890861625?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2023/12/3/2023-12-04-state-law-limited-partners-and-self-employment-tax This week we look at: FinCEN finalizes extension of due date for initial BOI reports for entities created in 2024 Tax Court rules that a state law limited partner is not automatically …

https://vimeo.com/888279996?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2023/11/25/2023-11-27-fincen-becomes-part-of-erc-fraud-enforcement This week we look at: IRS delays certain parts of expanded Form 1099-K filings added in ARPA to 2024 tax years FinCEN enters the ERC fraud enforcement game, publishing 10 red flags for fina…

Vimeo Link https://vimeo.com/886017968?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2023/11/18/2023-11-20-fincen-faq-update-for-boi-reporting This week we look at: IRS clarified FAQ on §139A and backpay for wrongfully incarcerated members of the armed services FinCEN adds to the FAQ on beneficial ownership information reporting…

https://vimeo.com/883588545?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2023/11/11/2023-11-13-irs-completes-inflation-adjusted-number-lists-for-2024 This week we look at: Inflation adjusted numbers for 2024 issued by the IRS Minor revisions made in final BOI FinCEN Identifier rules The IRS issues its second ERC-related GLAM, t…

https://vimeo.com/881264055?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2023/11/4/2023-11-06-retirement-plan-numbers-released-for-2024 This week we look at: 2024 inflation adjusted retirement numbers released by the IRS MeF 1040 shutdown date announced by the IRS Trust found liable for transferee tax in failed Son-of-BOSS shel…

https://vimeo.com/879224264?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2023/10/29/2023-10-30-boyle-decision-applies-to-electronic-filing This week we look at Taxpayers can’t rely on paid preparer as reasonable cause for late filing, even when using electronic filing IRS could assert negligence penalty (and obtain supervisory …

https://vimeo.com/876717974?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2023/10/21/2023-10-23-an-offer-the-actor-should-have-refused This week we look at PTIN renewals are now open for 2024 IRS announces program to allow for withdraw of ERC claims Actor’s estate loses in attempt to claim he had validly rolled over a non-tradit…

https://vimeo.com/872317299?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2023/10/8/2023-10-09-ev-credit-transfer-to-dealer-guidance-issued This week we look at Sloppy records cost CPA the vast majority of his business deductions IRS issues warning about art deduction tax promotions aimed at high-income taxpayers IRS gives detai…

https://vimeo.com/869903918?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2023/9/30/2023-09-30-limited-delay-in-some-cta-boi-initial-report-filing-dates This week we look at: IRS reduces PTIN fees substantially Wash sale rules do not apply to losses on disposition of money market funds IRS highlights new capabilities added to Ta…

https://vimeo.com/867545216?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2023/9/23/2023-09-25-fincen-issues-guide-for-small-business-cta-boi-reporting This week we look at: FinCEN provides guide to small businesses for beneficial ownership reporting under the Corporate Transparency Act Taxpayer cannot rely on the mailbox rule t…