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.Par 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.Par 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…

https://vimeo.com/865165599?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2023/9/16/2023-09-18-halt-in-erc-claim-processing-for-new-claims 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 …

https://vimeo.com/862962799?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2023/9/10/2023-09-11-better-late-than-never-section-174-guidance-arrives 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…

https://vimeo.com/860494726?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2023/9/2/2023-09-05-electronic-filing-of-information-return-mandate-issues 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 payment…

https://vimeo.com/858464561?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2023/8/27/2023-08-28-week-of-irs-delaying-requirements 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 desi…

https://vimeo.com/856245715?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2023/8/20/2023-08-21-renting-the-owners-homes-to-their-business-didnt-work-as-well-as-expected 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 r…

https://vimeo.com/854043438?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2023/8/12/2023-08-14-irs-issues-warning-for-certain-esop-programs 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 taxp…

https://vimeo.com/851961204 https://www.currentfederaltaxdevelopments.com/podcasts/2023/8/5/2023-08-07-irs-finally-tells-us-their-position-on-staking-rewards 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 ad…

https://vimeo.com/849978426 https://www.currentfederaltaxdevelopments.com/podcasts/2023/7/30/2023-07-31-the-erc-hearing-before-congress-left-for-the-august-recess This week we look at: Oversight Committee of House Ways & Means Committee holds a hearing on ERC issues, discusses potential amnesty program IRS ending most announced revenue officer visi…

https://vimeo.com/845765541?share=copy https://www.currentfederaltaxdevelopments.com/podcasts/2023/7/16/2023-07-17-irs-extends-rmd-relief-by-one-year This week we look 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 vict…

https://vimeo.com/843721129 https://www.currentfederaltaxdevelopments.com/podcasts/2023/7/9/2023-07-10-research-credit-blues 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 an organization formed to raise funds for one person’s medical bil…

https://vimeo.com/841939508 https://www.currentfederaltaxdevelopments.com/podcasts/2023/7/3/2023-07-03-supreme-court-protective-claims-and-965-transition-tax 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…

https://vimeo.com/837414420 https://www.currentfederaltaxdevelopments.com/podcasts/2023/6/25/2023-06-26-sherlock-holmes-and-tax-research 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 …

https://vimeo.com/837414420 https://www.currentfederaltaxdevelopments.com/podcasts/2023/6/18/2023-06-19-what-could-be-the-harm-of-filing-an-erc-claim 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 energ…

https://vimeo.com/835260362 https://www.currentfederaltaxdevelopments.com/podcasts/2023/6/11/2023-06-12-opening-offer-in-negotiations-for-2023-tax-package 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 gran…