PODCAST

Federal Tax Update Podcast

The Ohio Society of CPAs

Federal Tax Update Podcast Series

news business news

All Episodes

01:05:19

2023-09-18 Halt in ERC Claim Processing for New Claims

Federal Tax Update Podcast ·

2023/09/16

This week we look at: Just having a CPA prepare a taxpayer’s return does mean the taxpayer will get reasonable cause relief for assessments IRS announces halt to processing of new ERC claims until after 2023, will slow processing of claims currently in progress

58:40

2023-09-11 Better Late Than Never Section 174...

Federal Tax Update Podcast ·

2023/09/10

This week we look at: IRS make last minute change to K-2/K-3 FAQ for 2022 returns Preliminary guidance for §174 changes made in TCJA that took effect in 2022 issued by the IRS Copyright 2023, Kaplan, Inc.

52:56

2023-09-05 Electronic Filing of Information Return...

Federal Tax Update Podcast ·

2023/09/02

This week we look at: HHS sends letter to DEA recommending that marijuana be reclassified as a Schedule III drug General guidance issued determining tax status of 2023 state payments - and IRS asks for comments prior to giving additional guidance IRS clarifies limits of 2007 CCA on ESBTs and NOLs News release on electronic filing of Form 8300

28:40

2023-08-28 Week of IRS Delaying Requirements

Federal Tax Update Podcast ·

2023/08/27

This week we look at: Proposed regulations issued for digital asset broker reporting on Form 1099-DA IRS delays requirement for high income employees to make employer plan catch-up contribution to designated Roth accounts until plan years beginning after December 31, 2025 2024 health care premium tax credit percentages published by the IRS

55:32

2023-08-21 Renting the Owner's Homes to Their...

Federal Tax Update Podcast ·

2023/08/20

This week we look at: Limited relief likely coming for beneficial ownership reporting IRS being challenged in an attempt to treat state law limited partners as receiving SE income Rent your home to your business for 13 days each year plan mainly failed Advance memo states IRS objection to a marketed trust tax avoidance plan IRS memo explains credit unions can only claim COVID ERC on 2021 wages

50:20

2023-08-14 IRS Issues Warning for Certain ESOP Programs

Federal Tax Update Podcast ·

2023/08/12

This week we look at: Deduction for non-qualified deferred compensation not accelerated for the seller when the liability is transferred to the buyer of a business Tax professionals and taxpayers warned about issues with certain employee stock ownership plan (ESOP) arrangements Reduction of non-recourse debt amount was added to sales proceeds, not a cancellation of debt so no §108 relief was available

01:00:02

2023-08-07 IRS Finally Tells Us Their Position on...

Federal Tax Update Podcast ·

2023/08/05

This week we look at: IRS rules cryptocurrency staking rewards are taxable when taxpayer obtains dominion and control Interim guidance issued for home energy audit tax credit under IRC §25C added by IRA 2022 Proposed regulations issued to add monetized installment sales to listed transactions

01:03:32

2023-07-31 The ERC Hearing Before Congress Left for...

Federal Tax Update Podcast ·

2023/07/30

This week we look at: Oversight Subcommittee of House Ways & Means Committee holds a hearing on ERC issues, discusses potential amnesty program IRS ending most announced revenue officer visits Taxpayer finds out that there may very well be a tax consequence when you borrow against your life insurance policy and then let the policy lapse

01:17:01

2023-07-24 IRS Makes Clear Its Position on Extended...

Federal Tax Update Podcast ·

2023/07/23

This week we look at: IRS memo makes it clear the agency is very skeptical about extended supply chain ERC claims Third Circuit rules that equitable relief is available for failure to file Tax Court petition in 90 day period for a deficiency IRS asked by Tax Court to justify suspense account method for losses deducted in excess of basis in closed years Taxpayers had to pay tax on funds taken from IRA/pension funds that were paid to fraudster

46:32

2023-07-17 IRS Extends RMD Relief by One Year

Federal Tax Update Podcast ·

2023/07/16

The IRS looks at: IRS extends SECURE Act inherited IRA RMD relief for one additional year, adds special rollover rule for those born in 1951 due to SECURE 2.0 Act changes IRS grants relief to victims of Vermont flooding. Failure to attach simple election leads to requesting (and paying for) 11 separate private letter rulings Copyright 2023, Kaplan, Inc.

01:05:37

2023-07-10 Research Credit Blues

Federal Tax Update Podcast ·

2023/07/09

This week we look at: S corporation loses on research credit claim and gets hit with penalties - risks of a credit study Exempt organization status denied for organization formed to raise funds for one person’s medical bills Discussion of tax research hierarchy in this short week

01:04:26

2023-07-03 Supreme Court, Protective Claims and 965...

Federal Tax Update Podcast ·

2023/07/03

This week we look at: Supreme Court takes on §965 transition tax case for upcoming term: what do we do to protect our clients? The IRS releases draft versions of key 2023 partnership income tax returns Firefighter’s sexual harassment complaint settlement was not excludable from income

01:03:28

2023-06-26 Sherlock Holmes and Tax Research

Federal Tax Update Podcast ·

2023/06/25

This week we look at: IRS ends COVID-19 relief for high deductible health plans effective for plan years ending after 12/31/24 Taxpayer fails in attempt to get IRS permission to make a late §475(f) mark to market election Taxpayer who filed Tax Court petition 11 seconds too late due to technology challenges has petition dismissed Sherlock Holmes on tax research

46:02

2023-06-19 What Could Be the Harm of Filing an ERC...

Federal Tax Update Podcast ·

2023/06/22

This week we look at OIRA is no longer going to review IRS regulations before issuance IRS updates list of automatic accounting method changes Proposed regulations issued on transfers of certain energy credits and DirectPay for certain credits What can go wrong with an employee retention credit refund claim?

55:23

2023-06-12 Opening Offer in Negotiations for 2023 Tax...

Federal Tax Update Podcast ·

2023/06/12

This week we look at: 3 proposed tax bills introduced by Chair of House Ways & Means Committee Wellness indemnification payment is taxable income to employee and subject to payroll taxes IRS grants request to make election to skip claiming bonus depreciation when partnership discovers claiming bonus is bad news at the state level for certain partners

01:07:11

2023-06-05 Hobby Losses Expenses Effectively...

Federal Tax Update Podcast ·

2023/06/05

This week we look at: Fourth Circuit does not agree with view expressed by Seventh Circuit in Menard, Inc. that C corporation reasonable compensation only depends on a reasonable return to investors Eleventh Circuit holds that “hobby loss” expenses under §183 are miscellaneous itemized deductions Elderly attorney had reasonable cause for failure to file payroll tax returns and timely pay payroll tax liabilities

01:13:01

2023-05-30 Failure to File Claim Via Certified Mail...

Federal Tax Update Podcast ·

2023/05/29

This week we look at: Tax Court finds they have no authority to review the IRS notice for certification of seriously delinquent tax debt to State Department IRS publishes warning signs for employers to use to identify ERC scams Fourth Circuit finds that Section 7502 fully supplants common law mailbox rule for filing documents

52:44

2023-05-22 Supreme Court and IRS Giving Notice of...

Federal Tax Update Podcast ·

2023/05/21

This week we look at: Supreme Court rules in favor of IRS on issue of when notice must be sent when the IRS issues a third-party summons IRS agent gets distracted by small issues, fails to investigate potentially much larger one and it costs the IRS at Tax Court IRS announces 2024 HSA and excepted benefit HRA inflation adjusted amounts

33:47

2023-05-15 The PEO and Your ERC Refund

Federal Tax Update Podcast ·

2023/05/14

This week we look at: IRS email discusses issues that arise with payroll tax refunds when a PEO is involved who itself has unpaid tax liabilities Letter ruling provides that Forms 1099-C must be filed by a credit union due to writing off certain debts as part of a legal settlement IRS plans to add more detail to partnership K-1 liability disclosures on 2023 returns

01:02:39

2023-05-08 Time Zones and Timely Electronic Filings

Federal Tax Update Podcast ·

2023/05/07

This week we look at: IRS issues CCA making clear how strict the §125 substantiation rules are Taxpayer’s lack of documentation forces him to accept preparer’s gross gambling winnings and limits his gambling loss deduction Tax Courts finds that last second rule for filing a Tax Court petition is not the same as for returns filed via eFile Copyright, Kaplan, Inc.

180 results

Federal Tax Update Podcast

All Episodes

Similar Podcasts

Expres Ráno

Expres FM

PBS News Hour - Full Show

PBS News

CD Voice

China Daily

Israel Today: Ongoing War Report

Noa Levi

Jeffrey Epstein: The Coverup Chronicles

Bobby Capucci