Podcasts by Cases, Rulings, Regulations
Audio Commentary covering cases, rulings, and regulations on topics of interest to Attorneys, CPAs, Life Insurance Agents, Financial, Charitable, Employee Benefits, Retirement, Asset Protection, Valuation, and ElderCare Planners
Further podcasts by steve@leimbergservices.com
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Bob Keebler and Jason Early on the Cavallaro Case from 2020-03-19T06:57:48
In this 8-minute podcast, Bob Keebler and Jason Early discuss the implications of the Tax Court's decision in Cavallaro v. Commissioner, T.C. Memo 2019-144 (10/24/2019). The Tax Court's Memorandu...
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Estate Planning on Current Developments with Todd Angkatavanich and Steve Akers - Part 2 (Bloomberg Tax) from 2019-10-25T03:29:17
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Estate Planning on Current Developments with Todd Angkatavanich and Steve Akers - Part 1 (Bloomberg Tax) from 2019-10-25T03:29:17
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The Kaestner Supreme Court Decision: An Insider's View from 2019-06-25T06:28:46
In this 18-minute podcast Bob Keebler interviews attorneys David A. O'Neil and Anna Moody, who represented the taxpayer in North Carolina Department of Revenue v. The Kimberley Rice Kaestner 1992 F...
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Bob Keebler and Mitchell Gans: Kaestner and Protective Refund Claims from 2019-04-06T09:37:19
In this four-minute podcast, Bob Keebler and Professor Mitchell Gans discuss the implications of North Carolina Department of Revenue v. The Kimberley Rice Kaestner 1992 Family Trust, scheduled for...
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Keebler and Adkisson on Avrahami v. Commissioner from 2017-10-07T01:25:25
In Avrahami v. Commissioner, 149 T.C. No. 7, the Tax Court held that amounts paid to a captive insurance company and an offshore reinsurer were not insurance premiums for federal income tax purpose...
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Keebler on Portability and Rev. Proc. 2017-34 from 2017-07-10T06:51:20
In this podcast, Bob Keebler discusses the implications of Rev. Proc. 2017-34, creating a simplified procedure to obtain an extension of time to file a portability election.
This Podcast i...
Tax Reform Under President Trump from 2017-01-01T21:29:43
Bob Keebler and Jonathan Blattmachr
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60 Second Planner: Charitable Deduction Not Allowed Despite Trust Modification from 2016-12-22T01:38:23
In CCA 201651013, the IRS Chief Counsel concludes that a trust is not entitled to claim a charitable income tax deduction despite a modification of the trust to permit charitable distributions. Bob...
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Planning for Portability After Rev. Proc. 2016-49 from 2016-10-07T01:28:02
Rev. Proc. 2016-49 opens new opportunities in planning for the marital deduction. In this podcast, Bob Keebler discusses the available strategies for maximizing estate tax exemptions, protecting as...
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Keebler, Angkatavanich and Dougherty on Estate of Purdue v. Commissioner from 2016-01-11T01:18:24
In Estate of Barbara M. Purdue et al. v. Commissioner, T.C. Memo. 2015-249 (December 28, 2015), Tax Court Judge Goeke ruled favorably on the estate and gift tax aspects of a family limited liabilit...
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Keebler and Angkatavanich on Section 2701 Basics from 2015-10-29T03:58:24
In this podcast, Bob Keebler and Todd Angkatavanich discuss the basics of Internal Revenue Code section 2701, including:
- How section 2701 relates to the rest of Chapter 14
- Application ...
60 Second Planner: PLR 201539021 Grants 9100 Relief for Portability Election from 2015-10-02T00:39:22
In PLR 201539021, the IRS granted an extension of time for an estate to claim portability. Michelle Ward reports.
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Keebler and Blattmachr on Expected Valuation Discount Regulations from 2015-06-04T07:03:22
It is widely expected that the Treasury Department will, within the next few months, issue regulations under Code section 2704(b) limiting the ability to claim valuation discounts on transfers of...
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Keebler and Blattmachr on Elkins from 2014-10-06T23:35:34
In Estate of Elkins v. Commissioner (9/15/2014), the Fifth Circuit Court of Appeals upheld a 45% valuation discount for fractional interests in works of art, reversing a decision of the United Sta...
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Asset Protection and Income Tax Planning for IRAs after Clark from 2014-08-01T03:58:24
Bob Keebler interviews Edwin Morrow of Key Bank and Ohio attorney Bo Loeffler in an in-depth discussion of the implications of the U.S. Supreme Court decision in Clark v. Rameker for asset protecti...
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Keebler, Blattmachr and Gans on Estate of Trombetta from 2014-05-14T05:43:10
Bob Keebler interviews Professor Mitchell M. Gans and Jonathan G. Blattmachr on the subject of the U.S. Tax Court's decision in Estate of Trombetta v. Commissioner, T.C. Memo. 2013-234. In Trombet...
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Keebler, Oshins and Lipkind on the Newest NING Trust PLR from 2014-03-06T21:50:08
The IRS has just released PLRs 201410001 through 201410010, approving a Nevada Incomplete Nongrantor (NING) Trust. In this podcast, Bob Keebler interviews Bill Lipkind, the attorney who obtained t...
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60 Second Planner: Keebler on CCA 201330033 - SCIN Results in Taxable Gift from 2013-08-03T01:40:57
In Chief Counsel Advice Memorandum 201330033, the IRS concluded that a SCIN transaction by a taxpayer in poor health resulted in a taxable gift. Bob Keebler reports.
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Keebler and Kitces - PLR 2001330016 from 2013-08-02T01:12:43
Bob Keebler and Mitchell Kitces discuss the very important Section 1035 Ruling. This is a really terrific and very practical interview you will not want to miss. Even if you don't ordinarily lis...
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Keebler and Karibjanian - Federal Law for Same-Sex married Couple After Windsor from 2013-07-25T07:21:41
Bob Keebler and George Karibjanian follow up on George's recent LISI commentaries on the impact of Windsor. Is it Equality for All or Only for Some? To understand the impact of Section 3 of DOMA, ...
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American Taxpayer Relief Act of 2012 from 2013-01-08T23:04:58
Estate Planning after the American Taxpayer Relief Act of 2012 Video Presentation.
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Keebler - Covered Opinion Rules from 2012-09-18T08:51:26
Bob interviews attorney Michael Goller who discusses the new Covered Opinion Proposed Regulations. This is a very important development focusing on Section 10.37 - dealing with tax opinions and ...
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Keebler and Buck - Split Dollar Case Discussion from 2012-09-11T22:53:56
Bob Keebler and Keith Buck discuss the implications of Neff, an important new split dollar case.
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Keebler - Timing Social Security from 2012-06-05T00:39:27
Bob Keebler shares ideas on social security timing. Timing IS everything!
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Keebler - CCM 2012 08 026 from 2012-04-03T07:49:03
Bob Keebler is joined by Jonathan Blattmachr and this dynamic duo discusses the facts and implications of this important new IRS ruling
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Keebler - Taxpayer Penalties from 2012-03-25T22:48:46
Bob speaks with Mike Gollar, a tax attorney about Taxpayer Penalties and how to avoid them.
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Keebler - Taxation of Options - Part 4 from 2012-02-28T05:16:21
Bob Keebler continues his incredible PodCast series with # 4 - Taxation of Put Options.
Be sure to listen to Parts 1-3 as well.
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Keebler - Taxation of Options - Part 3 from 2012-02-13T07:41:03
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Keebler and Blattmachr - Planning in 2012 from 2012-01-31T03:12:38
Stars Bob Keebler and Jonathan Blattmachr discuss multiple planning tactics and considerations for this most important and pivotal year.
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Keebler and Blattmachr - Property Law Aspects of Decanting from 2012-01-22T23:46:21
Bob chats with Jonathan Blattmachr about the property law aspects of decanting. Be sure to listen to the other Podcast where the two discuss the tax aspects.
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Keebler and Blattmachr - Federal Tax Aspects of Decanting from 2012-01-05T22:33:53
Bob Keebler and Jonathan Blattmachr discuss what decanting is and how it is impacted by federal tax laws.
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Keebler and Jones - Roth Recharacterizations with Required Minimum Distribuions from 2011-12-19T22:13:20
Bob Keebler teams up with Mike Jones to give LISI members the scoop on Roth Recharacterizations with Required Distributions.
LISI wants to let you know about Bob's upcoming Two Day IRA S...
Keebler - Roth IRA Conversions Revisited from 2011-12-16T08:15:46
Bob Keebler, with years of experience in Roth Conversions, provides LISI members with his views of where things stand today and the opportunities and pitfalls.
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Keebler and Blattmacher Discuss Portability from 2011-10-19T00:21:35
Bob Keebler and Jonathan Blattmachr discuss potential portability of spouse's exemption issues and their solutions. Be sure to search our LISI Estate Planning Newsletters for more on this very im...
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Keebler - 2010 Form 8939 and 706 with Vince Lackner from 2011-10-18T01:28:56
Bob Keebler discusses the operation, traps, and tips regarding the 2010 Form 8939 and IRS form 706 with Vince Lackner of the Lackner Group.
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Keebler - Straddle Rules of Section 1092 from 2011-10-03T08:48:53
Bob Keebler discusses Section 1092 Straddle Rules
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Keebler and Lackner - Portability Malpractice Alert from 2011-10-02T23:42:18
Bob Keebler and Vince Lackner of Lackner Group discuss the potentially serious malpractice traps involved with the new portability rules.
Be sure to also listen to our PodCast featuring B...
Keebler - Strategies for Mitigating Taxation of Concentrated Low Basis Positions from 2011-09-26T06:53:54
How can a client reduce the potential tax burden where the holding in question is a large concentration of stock in one or two companies? Bob Keebler discusses Strategies for Mitigating taxation...
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Keebler and Oshins - Recent Democratic Estate Tax Proposals from 2011-09-19T07:58:11
Bob Keebler discusses with Las Vegas attorney Steve Oshins recent proposals by the Obama administration that would impact significantly on estate tax laws and planning.
This Podcast is...
Keebler and Shenkman - Portability and Malpractice Trap from 2011-09-19T07:53:43
Bob Keebler and Marty Shenkman discuss possible malpractice issues with respect to portability. This is a VERY important message - one LISI suggests EVERY estate planning attorney and CPA liste...
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Keebler - Portability Revisited from 2011-09-16T01:28:01
Bob Keebler discusses the 2011 Federal Estate Tax Return and Portability with Vince Lackner. Be sure to read Vince Lackner's commentary in LISI Estate Planning Newsletter # 1863.
This Po...
Paul Hood - Noncontrolling Normalizing Adjustments from 2011-09-14T09:27:25
Paul Hood discusses non-controlling normalizing adjustments. Don't miss Paul's upcoming 9/28 program at 12:00 P.M. EDT talk on Phil Cavesh?s Ultimate Estate Planner. It's A Method in the Madness:...
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Paul Hood - S Corporation Tax Affecting from 2011-09-13T00:10:27
Paul Hood - Tax Affect or not Tax Affect S Corporation earnings? Paul Hood discusses the issues.
Is there a premium? Should you believe the Tax Court? Keep listening.
Paul ...
Paul Hood - Discounts for Lack of Marketability When Controlling Interest Involved from 2011-09-11T09:03:47
Business Valuation authority Paul Hood discusses valuation when a controlling interest in a closely-held corporation is involved. Paul is the co-author of a new book on business valuation - A ...
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Paul Hood - Discounts for Built-In Capital Gains from 2011-09-11T01:32:57
Paul Hood, co-author with Tim Lee of the recently published book, A Reviewer's Guide to Business Valuations, discusses recent cases involving valuation discounts for built-in capital gains.
Paul Hood - Valuation Discounts for Lack of Marketability from 2011-09-08T07:54:31
Valuation authority, Paul Hood, discusses discounts for lack of marketability.
Paul will be presenting, in conjunction with Phil Cavesh, a program called A Method in the Madness: The Fine...
Bob Keebler and the Section 1022/AMT Election 'Curveball' from 2011-08-29T23:26:20
In this important PodCast, Bob Keebler reviews what he is calling the Section 1022 Election/AMT 'Curveball.' According to Bob, it appears that there is a strong possibility that taxpayers electing...
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Tax Planning Opportunities in Volatile Economic Environments from 2011-08-22T05:37:47
In this PodCast, Bob Keebler reviews a variety of strategies that can immediately help clients with their stock and bond investments.
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Bob Keebler discusses Revenue Procedure 2011-41 from 2011-08-10T08:55:03
Bob Keebler discusses Revenue Procedure 2011-41, which was issued by the IRS on August 5th. Bob covers the safe harbor rules applicable when executors elect out of paying estate tax, as well as th...
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Bob Keebler focuses on Notice 2011-66 from 2011-08-10T08:52:35
In this PodCast, Bob Keebler focuses on Notice 2011-66, the 1022 election not to pay estate tax, along with impact of Form 8939
This Podcast is sponsored by Leimberg Information Services, I...
Budget Control Act of 2011 Part 2 of 2 from 2011-08-10T08:44:30
In this PodCast, Bob Keebler focuses on the tax issues raised by the Budget Control Act of 2011, along with what Congress might do in in the future. Bob also reviews the things advisors should be...
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Budget Control Act of 2011. This is Part 1 of 2 from 2011-08-10T08:30:32
In this PodCast, Bob Keebler reviewd the current fiscal situation and important dates contained in the Budget Control Act of 2011. This is Part 1 of 2
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Paul Hood - 6 Questions Reviewers of Business Valuation Need to Ask - Part 2 from 2011-07-30T03:35:08
Paul recently co-authored a new book with Tim Lee titled: A Reviewer?s Handbook to Business Valuation: Practical Guidance to the Use and Abuse of a Business Appraisal (Wiley 2011). The book is ava...
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Keebler - Financial Planning for Deferred Compensation and Compensatory Stock from 2011-07-14T07:23:33
Bob Keebler provides an overview of issues planners must consider when planning for clients with deferred compensation and/or compensatory stock.
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Keebler - Charitable Trusts to Diversify Concentrated Stock Positions from 2011-07-14T07:19:04
Bob Keebler discusses how charitable and financial planning can intersect to accomplish client goals.
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Barry Picker - Paschall from 2011-07-14T06:47:01
Barry Picker discusses the importance of the recent Paschall case.
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Keebler - Stock Options in an Increasing Rate Environment from 2011-07-13T08:14:24
This is Part I of a two part series. Bob discusses planning strategies where a client has or is considering stock options at a time when interest rates are increasing.
This Podcast is spo...
Keebler - Stock Options in an Increasing Rate Environment - Part II from 2011-07-13T08:05:54
Bob Keebler discusses important factors to consider when a client owns or is considering the use of stock options during a time when rates are increasing.
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Keebler - PLR 20113048 from 2011-07-01T06:22:03
Bob Keebler discusses the implications of this recent PLR dealing with the Service denying a 60 day rollover treatment subsequent to a person's death.
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Keebler - Roth IRAs from 2011-06-26T05:29:19
Bob Keebler discusses Roth IRA conversions. A quick briefing on ROTH IRAs - the benefits and downsides - and why and when a ROTH IRA should be set up.
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Keebler - Early Distributions from 2011-06-26T05:25:31
Bob Keebler discusses early distributions from IRAs and Qualified Plans. He talks about both federal and state "penalties" (i.e. the additional tax). Bob distinguishes between public employees, c...
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Keebler - Briefing Roth IRA Recharacterizations from 2011-06-26T05:22:23
Bob Keebler discusses Roth IRA recharacterizations and conversions. How and when to undo a Roth conversion.
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Keebler - Tax Sensitive Withdrawals - Part 1 from 2011-06-26T05:19:59
Bob Keelber discusses strategies for tax sensitive withdrawals. How does a person draw upon assets to maximize retirement planning. Bob discusses the when and how and most tax efficient way to do...
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Keebler - IRA Asset Protection Update from 2011-05-31T00:42:31
Bob Keebler discusses the important topic of IRA Asset Protection and recent cases and rulings in the area.
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Keebler - Willis v. Menotte from 2011-05-30T23:59:05
Bob Keebler and Barry Picker discuss the important bankruptcy case of Willis v. Menotte. Note the impact of prohibited transactions.
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Keebler and Picker - Transferring IRAs to a Grantor Trust from 2011-05-03T08:49:36
Bob Keebler and Barry Picker, LISI's Employee Benefits and Retirement Planning Newsletter's Technical Editor, discuss the issues with respect to transferring IRAs to a grantor trust.
This ...
Keebler and Picker - IRAs, Bankruptcy, and Prohibited Transactions from 2011-05-03T08:36:56
Bob Keebler and LISI's Employee Benefits and Retirement Planning Technical Editor, Barry Picker discuss the interplay between IRAs, bankruptcy, and prohibited transactions.
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Keebler - 2010 Decedents - Reporting Taxable Gains on Sale or Dispostion of Property from 2011-04-15T22:56:09
Bob Keebler explains the rules that govern when the estate or heirs of a 2010 decedent sell or otherwise dispose of property received from that individual.
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Keebler - Cleaning Up IRA Distribution Issues from 2011-04-04T08:56:01
Bob Keebler discusses how practitioners should approach thorny IRA distribution issues during tax season.
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Keebler - Integrating Portability with Large IRAs from 2011-04-04T08:47:49
Bob Keebler discusses how the $5,000,000 exemption can be best used between spouses through the new portability rules in 2011 and 2012.
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Keebler - IRA Issues That May Arise During Tax Season from 2011-04-04T08:39:32
Bob Keebler discusses crucial and time-senstive issues such as excess accumulations, excess contributions, late recharacterizations, and missed 60 day roll-overs. Even if you are in the middle of...
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Keebler - Retirement Distribution Strategies from 2011-04-03T08:44:11
Bob Keebler tells how your clients can make their retirement funds last a lifetime.
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Keebler - Roth Recharacterizations in 2011 from 2011-04-03T08:31:48
Timing is everything. Bob Keebler talks about the rules allowing Recharacterization and how much time you have to do it.
This Podcast is sponsored by Leimberg Information Services, Inc. a...
Keebler - Net Unrealized Appreciation from 2011-03-05T08:43:03
Bob Keebler discusses net unrealized appreciation. Only available for clients with appreciated employer securities in their pension or profit-sharing plan, this is an incredible income tax planni...
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Keeber - PLR 201104061on Wrap Fees from 2011-03-05T08:26:27
Bob Keebler discusses a new PLR on Wrap Fees. This ruling provides guidance on IRA and Roth IRA wrap fees and concludes these fees can paid from outside the account!
This Podcast is sponso...
Keebler - Planning Between Now and Dec 31 from 2010-12-15T02:26:55
Bob Keebler keeps LISI members ahead of the new tax law curve with this incredibly timely PodCast.
Here's info on how you can learn more from Bob and his associates: Le...
KEEBLER - RMDs In YEAR of CONVERSION from 2010-07-30T02:03:25
Bob Keebler interviews Denise Appleby and Mike Jones. Their topic is RMDs IN YEAR OF CONVERSION.
Bob Keebler of Baker-Tilley is a recipient of the prestigious National Associatio...
Keebler on PLR 201021038 from 2010-06-07T02:22:06
Bob Keebler discusses PLR 201021038 and its implications. This is an important PLR involving naming a trust as a beneficiary of an IRA. Retroactive reformation of a trust was not respected by t...
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Keebler - Carried Interest from 2010-06-07T02:16:22
Bob Keebler talks about the issue of "carried interest" and the Bill working its way through the House and Senate.
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WILMINGTON TRUST - FUTURE VISION OF ESTATE PLANNING - PART IIA from 2010-05-11T03:15:41
This is Part IIA of Wilmington Trust's "2010 Future Vision of Estate Planning - Issues You Probably Never Considered - But Should Now."
Dick Nenno and his panel of Carol Cantrell, M. ...
Wilmington Trust - Future Vision of Estate Planning - Part III from 2010-05-08T01:55:19
This is Part III of Wilmington Trust's "2010 Future Vision of Estate Planning - Issues You Probably Never Considered - But Should Now."
Dick Nenno and his panel of Carol Cantrell, M. Re...
Wilmington Trust - Future Vision of Estate Planning - 2010 - Part II B from 2010-05-07T08:10:49
This is Part II of Wilmington Trust's "2010 Future Vision of Estate Planning - Issues You Probably Never Considered - But Should Now."
Dick Nenno and his panel of Carol Cantrell, M. R...
Wilmington Trust - Future Vision of Estate Planning - Part 1 from 2010-05-06T09:00:48
Dick Nenno of Wilmingtion Trust returns to provide a "2010 Future Vision of Estate Planning - Issues You Probably Never Considered - But Should Now."
Dick and his panel of Carol Cantrel...
Picker and Keebler on IRS Notice 2009-75 from 2010-01-30T22:55:27
Barry Picker and Bob Keebler explore the implications of IRS Notice 2009-75
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The Education of the Taxpayer from a Business Perspective - Ed Zollars from 2009-05-18T02:43:45
This Podcast concerns education as a business deduction, a provision covered by regulations last updated back in 1967.
The Tax Court had cause to look into this in the case of
The Limits on Taking a Return Position - Ed Zollars from 2009-05-09T06:30:16
This PodCast deals with professional standards and return positions.
In 2008, there was considerable discussion regarding the changes to "6694 and how tax professionals were to apply...
What's Up Doc? Employee or Not? - Ed Zollars from 2009-04-25T05:56:57
This PocCast is about the definition of an employee. We look at the matter in the case of Maimon v. Commissioner, TC Summary Opinion 2009-53.
Dr. Maimon attempted to argue that he w...
A Matter of Time (And Innocent Spouses) - Ed Zollars from 2009-04-20T02:31:48
This PodCast is about the "Innocent Spouse Provisions" of Section 6015.
The Tax Court recently decided a pair of cases related to the innocent spouse provisions of "6015 and time limits ...
A Defining Moment-Brokerage Trade or Business - Ed Zollars from 2009-03-07T03:42:29
This PodCast is about the distinction between "active" and "passive" activity. The IRS has shown recent interest in disputing whether real estate agents meet the requirements to be treated a...
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The Case of the Missing Cattle-Overvaluation Penalty - Ed Zollars from 2009-02-28T00:08:05
This PodCast is about valuation - and overvaluation.
Can nonexistent cattle be overvalued? Certainly not a mooo t point!
The Ninth Circuit, disagreeing with the Tax...
It's a Matter of Trust Funds - the Responsible Person Penalty - Ed Zollars from 2009-02-22T01:03:43
This PodCast concerns a case dealing with the trust fund recovery penalty under "6672. In the case of Richard A. Smith v. United States, 2009 TNT 30-...
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Losses and Choices-Stimulus Bill Net Operating Loss Rules - Ed Zollars from 2009-02-16T05:58:05
This PodCast is about the American Recovery Reinvestment Act of 2009. It has a number of tax provisions, and this podcast looks at the small business net operating loss provisions of the Act.
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Housing Fiasco of a Different Sort - Ed Zollars from 2009-02-07T07:04:05
Housing problems are all over the news (and with some of our clients), but today's story is a housing problem of a different sort. We look at a case where lots of things went wrong in building a t...
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A Matter of Timing-When Income and Deductions are Reported - Ed Zollars from 2009-01-30T23:16:35
This PodCast is about the timing of income you report and deductions you take. What if a customer tells you they are going to reduce what they pay you for the work you just delivered to them be...
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Home is Where the Job Is - Ed Zollars from 2009-01-24T21:21:18
This PodCast involves a Northwest Airlines mechanic who was laid off and ended up using his "bumping" rights in other cities while hoping to return to his original home base. The question of wh...
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Sharing the Credit-IRS Rules on Section 36 Provision - Ed Zollars from 2009-01-19T03:36:55
This PodCast is about the first-time homebuyer credit - and unmarried individuals. Last year when Congress added the first-time homebuyer credit found in Section 36, they included the ability f...
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Medical Expenses: Testing the Limits - Ed Zollars from 2008-12-27T06:16:20
This Podcast is about the deduction of Medical expenses and the case of Magdalin v. Commissioner, TC Memo 2008-293. In this case the taxpayer had paid expenses for obtaining eggs and the servic...
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Self-Employed or Not? - Ed Zollars from 2008-11-27T04:09:32
This PodCast deals with self-employment taxes and employee status and focuses on the Tax Court's ruling in McWhorter v. Commissioner, TC Memo 2008-263 where a taxpayer argued he was not subject ...
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S Corporation Debt and How to Not End Up With Basis - Ed Zollars from 2008-11-01T07:38:18
This Podcast continues with issues related to S Corporation debt and the many ways to end up not being able to use debts to deduct losses flowing through. This Podcast focuses on Tax Court's op...
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Closing the Open Door-S Corporation Debt - Ed Zollars from 2008-10-28T02:45:21
This Podcast concerns the final regulations on S Corporation open account debt that will change the way that many clients have to deal with their loans to the corporation.
These chang...
Too Late to Elect - Ed Zollars from 2008-09-28T06:05:50
This PodCast is about late elections. Here, another taxpayer found out well after filing his return with less than stellar results from his trading activities that there had been an option to f...
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Baisden - CPA Subject to Fraud Penalty - Ed Zollars from 2008-09-20T22:13:03
This PodCast deals with the issue of a CPA that got 'creative' in planning with himself and his clients, and in his case he finds the Tax Court isn't amused. The case is Baisden v. Commissi...
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We Just Disagree-What is the Meaning of In Connection With? - Ed Zollars from 2008-09-15T08:03:56
This PodCast examines a difference in application of IRC "162(k) between the Ninth Circuit Court of Appeals and the United States Tax Court given the Tax Court's decision in Ralston Purina v...
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At Death Do Payments Stop? Alimony Revisited - Ed Zollars from 2008-09-07T01:26:37
This PodCast deals with the Ninth Circuit Court of Appeals affirmation of the Tax Court's decision in the case of Johanson and Melzig v. Commissioner, TC Memo 2006-105 involving alimony...
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Delayed Rebate-Tax Status of Accrued Rebates - Ed Zollars from 2008-08-31T03:43:02
This PodCast pertains to a common accounting issue, the differences between tax and GAAP treatment of items. Here, we focus on a case involving the time for recognizing an expense. The matter i...
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Authoritative Support-Getting the Required Support for a Tax Position - Ed Zollars from 2008-08-25T06:10:15
This PodCast reviews the requirements found in the regulations for obtaining the required support for a tax position, concentrating on the methods outlined in Reg. "1.6662-4(d) in the definition...
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Keeping Things Open-Life Insurance Demutualization Case - Ed Zollars from 2008-08-17T00:57:59
This PodCast examines the United States Court of Federal Claims decision in Fisher, Trustee v. United States, 2008 TNT 154-7 where the court sided with the taxpayer and held that the proper trea...
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Section 108 Proposed Regulations for S Corporations - Ed Zollars from 2008-08-10T07:26:56
The IRS issued proposed regulations to explain the reduction of the NOL substitute in an S corporation setting when cancellation of debt is excluded from the S corporation's income under Sectio...
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I Wish That Hadn't Worked--Section 83(b) Election Regret - Ed Zollars from 2008-08-03T07:21:51
This podcast is the sequel to a November 2006 podcast on the same case--that of Kadillak v. Commissioner where an individual who was caught by the "dot bomb" crash of the technology stock of his...
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Heeding Warnings-Taxpayer Penalized After Preparer Shopping - Ed Zollars from 2008-07-27T06:32:02
This PodCast is about the preparer standards and tax return positions. In the case of Wadsworth v. Commissioner, TC Memo 2008-171, we see a real world situation where a tax professional decided...
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Getting Started Automatically - IRS Modifies Rules for Start Up and Organization Costs - Ed Zollars from 2008-07-13T04:20:05
This Podcast is about temporary regulations that deal with start-up and corporate and partnership organization costs. Interestingly enough, the new regulations now create an automatic election ...
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S Corporations and AAA - Ed Zollars from 2008-07-06T04:16:22
This PodCast is about the impact of life insurance premiums and death benefits on an S corporation's accumulated adjustments account. It will focus on the more general issues of the relevance (a...
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IRS Releases New FAQ on HSAs - Ed Zollars from 2008-06-29T07:58:18
This Podcast pertains to HSA Accounts. The IRS has issued guidance in the form of a series of questions and answers related to Health Savings Account in Notice 2008-59. This podcast covers so...
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Proposed Regulations for Preparer Penalties - Part Two - Ed Zollars from 2008-06-26T06:37:27
This PodCast is part two of a series on the proposed regulations for preparer penalties. .
The materials are at http://edzollars...
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Proposed Regulations for Preparer Penalties - Part One - Ed Zollars from 2008-06-22T08:05:10
This PodCast is the first of what will be a series of two on the proposed regulations for preparer penalties. Considering the length of the regulations and podcast, the first hour is in this fil...
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Step or No Step - Holman Case - Ed Zollars from 2008-06-08T07:13:11
This PodCast reviews the step transaction doctrine and where the line is drawn when we deal with the application of the step transaction doctrine in the formation of a family limited partnership...
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Poor Records Not Equated to Fraud - Ed Zollars from 2008-05-30T07:38:50
This PodCast concerns a Court of Claims case that deals with an IRS examination and the imposition of the fraud penalty--a penalty the Court of Claims found was not justified. The case is the...
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Not a Mere Technicality-SEP Disqualified - Ed Zollars from 2008-05-24T06:52:43
This PodCast pertains to a case involving a failure to meet SEP rules.
Simplified employee pensions (SEPs) are a popular retirement plan for extremely small businesses, with one of the key ...
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Partnership Liabilities, Tax Shelters and Different Views of the Same - Ed Zollars from 2008-05-17T07:52:35
This PodCast deals with a Fifth Circuit ruling in Kornman & Associates, Inc. v. United States on whether a taxpayer who set up a Son of BOSS style shelter would get the benefit that was...
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All IRS Employees Are Not Equal - Ed Zollars from 2008-05-10T03:35:21
This PodCast deals with the problems that might be encountered by a taxpayer who tries to hand file a return. In the case of Allnut, Sr. v. Commissioner, 2008-1 USTC 50,310 the taxpayer failed t...
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Sloppiness and the Tax Shelter - Ed Zollars from 2008-05-04T02:54:15
This PodCast is about the interplay between partnership taxation and tax shelters taken beyond the spirit of the law. Partnership taxation is one of those areas where things may not work exactly a...
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Qualified Joint Venture and Memo on Self-Employment Tax - Ed Zollars from 2008-04-28T06:25:15
This PodCast follows the continuing saga of the self-employment tax and qualified joint venture. It analyzes CCA 200816030 issued by the IRS that outlines the "new improved" IRS position on self-em...
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The Mailbox Rule Comes Up Once Again - Ed Zollars from 2008-04-20T05:26:13
This PodCast concerns the issue of whether "7502(c) provides the exclusive means to prove timely filing of a document by a taxpayer. What the Third Circuit had to say, the IRS didn't like hearin...
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Was it a Gift or Compensation? The Tax Court Knows - Ed Zollars from 2008-04-15T22:55:45
This PodCast pertains to the distinction between compensation income and gifts.
Specifically, the issue is, Is a payment to a person taxable compensation income or a non-taxable (for incom...
Upon Further Review-Self-Employment Tax Issues - Ed Zollars from 2008-03-22T03:48:17
This PodCast pertains to Self-Employment tax issues. We look specifically at the case authorities we have (which are scant, and not terribly promising for LLC members), the IRS's proposed regul...
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CPA Says Error, IRS Says Accounting Method - Ed Zollars from 2008-03-16T06:58:04
This PodCast is about the difference between an error and an accounting method. The question of whether a problem on a return was an error or a method of accounting is important. We'll look at ...
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Risky Business - LLC Debt Restoration Provision Fails to Provide At Risk Status - Ed Zollars from 2008-03-09T06:12:42
This PodCast examines an LLC debt restoration provision. We look at the Tax Court's second pass at the case of Hubert v. Commissioner, TC Memo 2008-46, a case sent back to the Tax Cour...
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Safe Harbor for Section 1031 Exchanges - Ed Zollars from 2008-03-02T02:19:51
This PodCast is about Section 1031 exchanges of personal use property. The IRS has issued a safe harbor treatment for "1031 exchanges involving property that previously had or subsequently has per...
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Not Quite Good Enough-Timely Filing One More Time - Ed Zollars from 2008-02-24T05:26:27
This PodCast pertains to the issue of "timely filing", revisiting an issue last covered in a podcast back in October of 2005. This time we look at the Tenth Circuit's opinion in the case of ...
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Transforming Rental Income to Self-Employment Income - Qualified Joint Ventures - Ed Zollars from 2008-02-17T04:56:35
This Podcast discusses an issue highlighted in the instructions to Form 1065 and pertains to the side effect that occurs when married taxpayers holding rental property in an LLC or other form el...
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A Capital Idea-But Not In the Eyes of the Court - Ed Zollars from 2008-01-27T05:00:59
This PodCast is about the distinction between a capital and non-capital assets. The issue of what is a capital asset is looked at in the Ninth Circuit's decision in Trantina v. United States, 2008...
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Consenting to Disclosure or Use of Return Information - Ed Zollars from 2008-01-21T03:05:10
Knight Time for Investment Fees in Trusts - Ed Zollars from 2008-01-16T05:33:54
This PodCast is about the 2% of AGI floor on certain trust expenses. The Supreme Court decided the issue of whether investment fees paid by a trust was subject to the 2% of adjusted gross incom...
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Economic Substance, Promissory Notes and Partnerships - Ed Zollars from 2008-01-14T03:10:42
This PodCast concerns the economic substance doctrine. We look at a case where the IRS failed in an attempt to argue that a transaction had no economic substance or otherwise failed under the anti...
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Debt Relief, Recourse Mortgages and Tax Research - Ed Zollars from 2008-01-07T03:24:05
This PodCast examines a case that illustrates the application of Section 108 in a situation with recourse debt. While this case would likely have been covered by the relief in the Listen
IRS's New View on 6694 and 6695 - Ed Zollars from 2008-01-01T05:16:13
This PodCast concerns guidance for Preparers of tax returns. The IRS celebrated the end of 2007 by releasing three Notices late on December 31 that provide guidance on the application of the rev...
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Class Warfare in the Family (with an S Corporation) - Ed Zollars from 2007-12-31T03:19:37
This PodCast is about the S Corporation election. Here, we look at a case where a shareholder attempted to argue that, in fact, the S corporation's election had been terminated a decade before d...
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Home is Where the Partnership Is Not - Ed Zollars from 2007-12-26T03:14:58
<P>This PodCast is about the home sale exclusion, Section 121. In a recent Tax Court decision on the home sale exclusion under Section 121, the IRS and the taxpayers split the decision--th...
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S Corporation Owner Health Insurance Ruling - Ed Zollars from 2007-12-24T06:53:01
This PodCast is about the Self-Employed Health Insurance Deduction for S corporation owners. The IRS has issued Notice 2008-1 that details how an S corporation shareholder can qualify for the s...
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Washing Out a Loss-IRS Rules on IRAs Relationship to Section 1091 - Ed Zollars from 2007-12-22T05:22:42
This PodCast concerns wash sale rules and IRA investments. IRS Revenue Ruling 2008-5 deals with issue of a taxpayer selling securities at a loss in a taxable account and then purchasing identica...
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Rolling Changes: IRS Releases Two Revisions to Circular 230 - Ed Zollars from 2007-09-26T03:06:46
This PodCast is about changes to Circular 230.
Two days, two revisions: the IRS on September 25 issued proposed regulations to revise Circular 230 "10.34, and the very next d...
Total Devastation-Damage to a Residence and Eligiblity for Section 121 - Ed Zollars from 2007-08-31T05:55:05
This PodCast is about Code Section 121.
The IRS released a Chief Counsel Advice (CCA 200734021) that dealt with how to interpret the language found in Section 121(d)(5) that, in ce...
North, to Alaska-Thompson, Valuation and Reasonable Cause - Ed Zollars from 2007-08-26T06:34:34
This PodCast is about transfer tax valuation.
The Second Circuit Court of Appeals decided that the Tax Court had been too quick to dismiss a penalty under 6662 in the Listen
Insurable Interest - Part 3 - Steve Leimberg and Randy Zipse from 2007-08-24T03:29:48
This is the third and final portion of the series on insurable interest. Steve Leimberg and Randy Zipse of the John Hancock discuss the latest trends and key issues in this most important ...
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Future Vision of Estate Planning - Part II- Dick Nenno from 2007-07-30T08:14:10
This PodCast is a frank discussion of what some of the top practitioners in the ...
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Future Vision of Estate Planning - Part 1 - Dick Nenno from 2007-07-26T05:45:23
This PodCast is a frank discussion of what some of the top practioners in the country are thinking, and actually doing, with respect to a number of key estate planning tools and techniques.
...
It Has to Be Something! Tax Court Penalizes Taxpayer for Sloppy Records - Ed Zollars from 2007-07-20T04:21:24
This PodCast revisits the Cohan (records keeping) rule, but this time in the context of a much larger taxpayer than we normally look at, in the case of Tyson Foods, Inc and Subsidiaries vs....
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Home Equity of a Different Sort-Claiming Deductions for a Home the Taxpayer Doesn't Own - Ed Zollars from 2007-07-14T08:42:07
This PodCast concerns income taxation where equitable ownership of a home is involved. Equitable ownership of a home can make a eligible for a deduction for mortgage interest and...
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A Review of Section 6662(b)(1) Client Penalties - Ed Zollars from 2007-06-30T08:45:17
This PodCast pertains to both the changes to Circular 230 paragraph 10.35 back in 2005 and the recent revisions to Section 6694. We review the penalties that can be imposed on a taxpay...
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Testing the Limits-The IRS Loses Statute of Limitations Case - Ed Zollars from 2007-06-21T06:14:52
This PodCast provides a look at recent cases where the IRS lost a statute of limations argument. In the case of Bakersfield Energy Partners, LP, 128 TC No. 17, the question was w...
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Delay of Game-IRS Grants Temporary Relief For Section 6694(a) Changes - Ed Zollars from 2007-06-17T06:57:13
This PodCast pertains to IRS Notice 2007-54 which grants partial relief from some of the changes made to the preparer penalties under Section 6694(a), delaying full implementation of the pr...
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Payment Encore: Liability of Taxpayer for Embezzlement by Payroll Service - Ed Zollars from 2007-05-18T00:54:05
This PodCast examines Pediatric Affililates, P.A., (2007-1 USTC 50,477) where the Third Circuit Court of Appeals upheld the U.S. District Court of New Jersey's determination that the taxpayers...
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Wilmington Trust's Future Vision of Estate Planning - Part 2 - Dick Nenno from 2007-05-09T08:22:42
This PodCast is Part 2 of Wilmington Trust's 2007 Future Vision of Estate Planning and features Dick Nenno asking perceptive questions of some of the brightest and most creative minds in pr...
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The Future Vision of Estate Planning 2007 - Part 1 - Dick Nenno from 2007-05-09T08:03:35
This PodCast contains the first round of Wilmington Trust's 2007 Future Vision of Estate Planning and features Dick Nenno asking perceptive questions of some of the brightest and most creative m...
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It Depends-IRS Proposes New Divorced Parents Regulations - Ed Zollars from 2007-05-08T05:24:42
This PodCast examines Proposed Regulations under Section 152 to clarify the treatment of divorced parents, regulations that would both serve to document what has developed under the cu...
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Home is Not Where the Heart Is - Section 162(a)(2) - Ed Zollars from 2007-04-27T04:19:57
This PodCast is about travel deductions. A taxpayer without a regular place of business can still obtain a deduction for travel away from home if the taxpayer can establish that he/she has...
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Cost of Bad Practice - IRS Notice Implementing Monetary Penalties Under Circular 230 - Ed Zollars from 2007-04-24T06:18:23
This Podcast provides guidance on Circular 230 issues. The IRS on April 23 released guidance on the application of monetary penalties to practitioners, their employers, firms and related e...
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An Extension We Don't Want-Tax Preparer's Fraud Taints Return for Statute of Limitations - Ed Zollars from 2007-03-10T05:10:18
This Podcast concerns the income tax statute of limitations.
When Code Section 6501(c) refers to a false and fraudulent return, does the IRS need to show that the taxpayer was invo...
Insurable Interest - Part 2 - Steve Leimberg and Randy Zipse from 2007-03-07T06:37:28
This Podcast is Part II in a discussion on Insurable Interest between Steve Leimberg and Randy Zipse of the John Hancock.
This Podcast is sponsored by Leimberg Information Services, ... Listen
Insurable Interest - Part 1 - Steve Leimberg and Randy Zipse from 2007-03-03T08:54:40
This Podcast is the first in a 3 part series on Insurable Interest.
In this Podcast, Steve Leimberg and Randy Zipse of the John Hancock discuss the underlying philosophy and legal ...
Credit Denied-IRS Attacks Partnership State Tax Credit Shelter - Ed Zollars from 2007-02-24T05:17:51
This Podcast is about IRS guidance indicating their displeasure with a marketed FLP shelter that promises benefits via the literal application of partnership provisions in the IRC.&nbs...
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A Family Affair-Spouses and Medical Reimbursement Plans - Ed Zollars from 2007-02-12T00:48:43
This PodCast is about Medical Reimbursement Plans (MRPs). In the 2006 Speltz case the taxpayer prevailed in a medical reimbursement plan provided for her husband who worked for the ta...
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But I Left it at the Hotel-The Late Filing Issue - Ed Zollars from 2007-01-30T02:49:31
This Podcast is about timing. We examine the case of a traveler who got bitten when she attempted to make use of the hotel to get a package picked up by a private delivery service-a p...
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Literally Too Good To Be True-IRS Memorandum on Partnership Transaction - Ed Zollars from 2007-01-19T05:51:26
This PodCast considers an IRS memorandum that argues against the position taken by a taxpayer arguing that his transaction literally complies with Code Sections 731 and 732.
T...
Put on Notice-IRS Explains the Distribution Provisions in the Pension Protection Act of 2006 - Ed Zollars from 2007-01-13T06:18:57
This PodCast concerns IRS Notice 2007-7 that explains the distribution provisions in the Pension Protection Act of 2006.
When Did That Happen? Options and Exercise Date? Ed Zollars from 2007-01-06T02:46:40
This PodCast is about stock options.
Sometimes life just doesn't seem fair. Like when you exercise stock options from your former employer, and the stock price drops 20% from...
Maybe Not Better Late Than Never-Mark to Market Election under Section 475(f) - Ed Zollars from 2006-12-30T00:52:29
This PodCast is about the Section 475(f) mark-to-market election. The mark to market election under Section 475(f) can have a major impact for individuals that were unsuccessful in their a...
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Timing is Everything-IRS Issues Year End Expense Guidance - Ed Zollars from 2006-12-27T23:26:12
This PodCast is about the IRS warning to accrual basis taxpayers that the Service has some very specific ideas on the proper application of the recurring item exception. We ...
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The Dictionary vs. the Regulations-Active Participation in Retirement Plans - Ed Zollars from 2006-12-02T01:21:56
This PodCast covers the issue of whether an individual is or isn't considered an active participant in a retirement plan.
The determination can be complex, as the taxpayer found out in the ca...
Life Insurance and Charitable Planning - Part II - Steve Leimberg from 2006-11-29T07:11:48
This is Part II of the PodCast interview between Randy Zipse of the John Hancock and Steve Leimberg on the subject of life insurance in charitable planning.
Part I covered some of ...
Life Insurance and Charitable Planning - Part I - Steve Leimberg from 2006-11-29T06:53:55
This is the first of two PodCasts with discussions between Randy Zipse of the John Hancock and Steve Leimberg on the topic of life insurance in charitable planning.
This first Podc...
The Future Vision of Estate Planning - Part II- Dick Nenno from 2006-11-29T00:33:06
This is PART II of our two part PodCast, THE FUTURE VISION OF ESTATE PLANNING, a special presentation of L...
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The Future Vision of Estate Planning - Part I - Dick Nenno from 2006-11-29T00:07:10
This is PART I of a two part PodCast, THE FUTURE VISION OF ESTATE PLANNING, a special presentation of Leim...
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Close Doesn't Count-Accountable Plan Rulings - Ed Zollars from 2006-11-25T07:48:50
This PodCast deals with rulings related to the accountable plan rules, and how the IRS interprets the options for implementing those rules. Specifically, we will focus on Re...
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A Ringing in Your Ears-Telephone Tax Refunds and Businesses - Ed Zollars from 2006-11-16T22:42:44
This PodCast is about the simplified method that businesses can elect to use to compute the amount of their refund for the federal long distance excise tax that the IRS finally agreed the law ...
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To 83(b) or not to 83(b)-That is the Question - Ed Zollars from 2006-11-11T05:03:34
This PodCast is about Section 83 elections. 83(b) elections were all the rage, especially for those with stock options during the dot com bubble--and now many of those individuals re...
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Sorry, But No Dice-Reliance Upon a Tax Professional Co-Administrator - Ed Zollars from 2006-11-03T04:32:10
This podcast deals with the case of Estate of Landers, TC Memo 2006-230, where an estate's co-administrator attempted to seek a finding that there was r...
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Spitzer Sues Life Settlement Company - Steve Leimberg from 2006-11-02T06:10:58
This PodCast is about the Eliot Spitzer suit against Coventry First, the life settlement company. LISI thanks John Hancock Life's Randy Zipse who, with Ray Iddings of the John Hancock, are...
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Plain Speaking: General Powers of Appointment, the GST and Grandfathered TRA86 Trusts - Ed Zollars from 2006-10-27T22:38:54
This Podcast is about the GST. The Tax Court reasserted its previously stated position on the treatment of the GST grandfathering provision for trusts in existence on September 25, 198...
Take That, Private Annuities! New IRS Proposed Regulations - Ed Zollars from 2006-10-20T05:48:29
This PodCast pertains to the proposed IRS regulations that will radically change the taxation of private annuities, making Revenue Ruling 69-74 obsolete as of October 18. It discusses the ...
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Lets Try This Again-Another AMT Capital Loss Theory Loses - Ed Zollars from 2006-10-13T06:12:42
This Podcast deals with the coordination of the capital loss rules of 1211 and the alternative minimum tax. In the case of Palahnuk v. Commissioner, 127 T.C. No. 9 the Tax Court once aga...
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A Little Bit of This and That-Signing Returns, Alimony and 409A Reprieve - Ed Zollars from 2006-10-06T06:52:21
This podcast covers a number of recent tax developments, including dealing with the burning issue of whether a preparer must sign the client's copy of the return, a recent case involving again t...
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A Defining Issue-Who Is an Employee? Ed Zollars from 2006-09-29T05:59:18
This PodCast is about the definition of the term, "employee". The issue of whether a service provider is properly treated as a contractor or employee is an important issue for many small busi...
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Not Quite Horseshoes-Close Doesn't Count for Charitable Appraisals` - Ed Zollars from 2006-09-21T05:09:17
This podcast reviews the requirements for qualified appraisals and why, just because an appraisal exists, that won't necessarily save the taxpayers' deduction unless have specifically contracted...
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Limitations-the Statute of Limitations on Refund Claims - Ed Zollars from 2006-09-15T06:18:47
This PodCast concerns a case involving the statute of limitations and the issue of reliance on IRS advice. In the case of A. L. Katz & J. L. Miller v. ...
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And You Get Your Own Car--Cars Provided to Employees - Ed Zollars from 2006-09-01T04:56:18
This PodCast deals with the issues involved with having cars that are used by employees, and the various rules that employers need to deal with in that situation. While arguably not as '...
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But My Kids Are Worth What I Pay Them! How Not to Handle Children on the Payroll - Ed Zollars from 2006-08-26T07:40:38
This PodCast covers some of the things you need to consider if your children are on your payroll.
Paying your children to work in your business can make sense both for the business and fr...
Why Margined Stock is Not Equivalent to a Nonqualified Option.Ed Zollars from 2006-08-19T07:00:42
This PodCast deals with the continuing problems of employee related options that were exercised when the stock was at a high price, but whose price collapsed before the tax was due. The...
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It's a Matter of (Misplaced) Trust-Taxpayer Reliance on Advice - Ed Zollars from 2006-08-04T05:25:05
This PodCast is about taxpayer advice and its reliability and its credibility in court. Taxpayers get their advice from a lot of sources, and we often end up having to defend our own advice a...
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Gee, Whose IRA Was It? Issues of Surviving Spouses and IRAs - Ed Zollars from 2006-07-28T05:58:48
This PodCast is about the Section 72(t) penalty tax on premature distributions and the question, "Is a distribution made to a surviving spouse that was rolled to her IRA but can be traced to her...
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The Tax GAAP-FASB Speaks on Tax Provisions for Financial Reporting - Ed Zollars from 2006-07-21T03:59:44
This PodCast provides coverage of FASB's Interpretation 46 that deals with uncertain tax positions. The new interpretation will create some real problems for CPAs, especially t...
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Reasonable Cause for Late Filing - I Did Not Late File - Ed Zollars from 2006-07-15T06:21:55
This PodCast concerns reasonable cause for late filing. The logic of the application of the IRC to specific situations at times seems to defy common logic. Here, we look at a specific ex...
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That's Not Income, That's a Discount - The Ninth Circuit Corrects the Tax Court - Ed Zollars from 2006-07-08T06:46:12
This PodCast is about the tax implications of a prepaid purchase discount that may need to be refunded if purchase goals are not met. The issue has resurfaced as the Ninth Circuit C...
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What Did They Mean? Section 199 and Construction - Ed Zollars from 2006-06-30T05:41:12
This Podcast is about construction costs. We take a look at the regulations under Section 199 as they define construction found at Regulation 1.199-3(m). These definitions are key fo...
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Is it Really My Loan? S Corporation Debt Once Again - Ed Zollars from 2006-06-23T08:03:29
This Podcast is about the importance of following proper form in corporate debt situations. A few weeks ago (back in April) we looked at the case of Ruckre...
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Reading, Writing and FICA-Taxation of FICA Payments on Tenure Buyout - Ed Zollars from 2006-06-17T06:56:32
This PodCast concerns FICA taxation of payments made in exchange for tenure rights as part of an early retirement package offered to teachers. Another Circuit chimes in on the issue. In a ...
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Extra, Extra - IRS Headliner on S Corporation Shareholders and 162(l) - Ed Zollars from 2006-06-10T09:15:57
The IRS on May 15 issued a "Headliner" on their website directed at tax professionals that attempted to explain the treatment of policies purchased by a single employee shareholder of an S corpo...
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Special Podcast-About Those Extensions We Just Denied...Ed Zollars from 2006-06-04T02:14:29
This Podcast is about extentions of time to file. This will be of special interest to practitioners (and their clients) who bulk filed paper extensions with the Fresno Service Center.&nb...
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At Death Do the Payments Stop? Alimony and the Not Quite Clear Divorce Settlement. Ed Zollars from 2006-06-03T07:48:24
This Podcast is about the tax implications of divorce and alimony.
Divorce settlements at times are frustrating for tax preparers to work with, since they often leave dangling the iss...
It's T time - Exceptions to the 10 Percent Penalty Tax on Premature Distributions - Ed Zollars from 2006-05-12T06:22:10
This Podcast deals with the 'premature distributions' penalty tax and its exceptions.
Taxpayers who take distributions from retirement plans prior to attaining age 59 1/2 have to deal with ...
Testing the Limits: the $3,000 Capital Loss Cap and the AMT - Ed Zollars from 2006-05-05T07:24:23
This Podcast concerns the $3,000 Capital Loss Cap and the AMT. The Tax Court looked at the interaction of the $3,000 capital loss limitation and the alternative minimum tax basis adjust...
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Whose Debt Is It Anyway? S Corporations and Loans from Related Entities - Ed Zollars from 2006-04-28T03:20:28
This Podcast is about loans, S Corporations, and reality engineering. Shareholder debt to S corporations has proven to be a minefield for shareholders and their advisers, and the taxpayer and their...
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"Kill the Death Tax Forever" - But First,, a Few Questions! Steve Leimberg from 2006-04-25T01:47:36
This PodCast is a Response to Dr. Bill Frist's Request to his Colleagues to "KILL THE DEATH TAX FOREVER".
Frist stated that, "Because of Katrina, we could not...
But I Never Got That Letter: When Mail Doesn't Make It To Taxpayers - Ed Zollars from 2006-04-22T05:13:05
This PodCast covers tax issues relating to mail the IRS sends to the wrong address, mail that never makes it to the taxpayer, or mail that arrives late. Much of the information that taxpayers...
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We Didn't See This Adoption Coming-What is Unforseen? Ed Zollars from 2006-04-15T05:10:52
This PodCast deals with the "Unforseen Circumstance" exception that qualifies a taxpayer for early use of Section 121's gain exclusion at a reduced level. Can adopting a child, an apparently ...
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How Much to Tell--Adequate Disclosure and Section 6501(e) - Ed Zollars from 2006-04-07T06:08:55
This PodCast uses the case of Benson v. Commissioner, TC Memorandum 2006-55, to examine the issue of what constitutes adequate disclosure under Section ...
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Unreasonably Not Injured - Ed Zollars from 2006-03-31T04:45:59
This PodCast focues on the exclusion for personal injuries under Section 104 , as well as the nature of a reasonable cause for purposes of escaping the imposition of a penalty. We use th...
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Investor Initiated Life Insurance - Free Lunch or Acid Indigestion? Steve Leimberg from 2006-03-24T21:35:14
This Podcast covers Investor-Initiated Life Insurance, a/k/a Stranger-Owned Life Insurance and the recent Opinion of the General Counsel of the New York State Insurance Department.
For re...
I'm a Yankee Doodle Dandy-Just Not a Good Recordkeeper..- Ed Zollars from 2006-03-24T03:54:18
This Podcast focuses on the issues and limitations involving the Cohan rule and its use in tax compliance and representation work.
The materials can be downloaded from
In God We Trust, All Others Must Deposit With Us-Payroll Tax Trust Funds - Ed Zollars from 2006-03-17T04:35:46
This PodCast covers issues involving payroll tax deposits, including the IRS and Social Security Administration recent caution about the use of payroll services to deposit taxes.
<... Listen
Don't Get Personal (Service Corporation, That Is...) Ed Zollars from 2006-03-10T04:37:01
This PodCast examines the definition of a "qualified personal service corporation" and, perhaps more importantly, distinguishes a PSC from what is not. The pod...
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The Trouble With Disclaimers-Circular 230 Revisited - Ed Zollars from 2006-03-04T02:33:51
This week's podcast pertains to the potential overuse of Circular 230 disclaimers. It arose from a discussion that began on the California Society of CPAs Tax...
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Doctor My Eyes Have Seen the Deduction - Medical Expenses and the Spouse - Ed Zollars from 2006-02-24T06:08:55
This PodCast concerns issues surrounding what are medical expenses for various tax purposes, as well as a case where the taxpayer successfully defended hiring her s...
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Efficient Tax Research - Ed Zollars from 2006-02-17T04:47:35
This Podcast considers issues and methods of tax research. Ed Zollars deals with research issues that arise in a tax practice.
The materials are fo...
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The Right the IRS Discovered That Invalidated CRTs--and Then Decided to Delay A Decision On - Ed Zollars from 2006-02-10T06:03:03
This Podcast covers charitable remainder trusts in light of the IRS granting relief from an issue they first seem...
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The Cases of the Inadequate Charitable Documentation from 2006-02-03T05:58:43
This week our Podcast considers the Tax Court's application of the charitable documentation regulations to two real world cases.
In the case of Kendrix v. Commissioner a ...
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The Superintendent and Section 62 from 2006-01-27T04:16:04
Congress hates employees--that's a fact of life that a worker learns the hard way in the case of Alley v. Commissioner, (TC Summary Opinion 2006-4) that we discuss this week. Mr. Alley ha...
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The Post December 31 Retirement Plan--Simplified Employee Pensions from 2006-01-20T05:41:15
This podcast discusses simplified employee pensions, including the basic rules that apply to them, and the gotchas that clients tend to run into.
The materials are available fro...
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Attaining True Clarity--Efiling and Schedule D from 2006-01-13T06:40:26
In what has become an unintended series of podcasts, we deal once again (and hopefully for the final time) with the IRS's revisions to the Schedule D instructions, and the subsequent "clarificat...
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Special Edition-IRS Clarifies Schedule D from 2006-01-08T03:59:44
While highly unofficial at this point, the IRS has begun circulating a "clarification" of the Schedule D issue.
Charity Begins at Home (with Documentation...) from 2006-01-02T02:18:20
Ed Zollars closes out the year and gets LISI members ready for the upcoming tax season with a look at the documentation rules for charitable contributions.
You can download t...
By the Form New IRS Schedule D Instructions from 2005-12-23T02:38:33
We look at the controversy that has arisen about a modification the IRS made to this year's Schedule D instructions. In the 2005 edition of the instructions, the IRS specifically indicates that ...
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Confession is Good for the Tax Pocketbook from 2005-12-16T05:26:59
This week we look at adequate disclosure under Revenue Procedure 2005-75 for purposes of escaping the substantial understatement penalty under Section 6662(a).
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Breaking Up Can Be Taxing - Alimony Under the Tax Law from 2005-12-04T22:20:36
Be sure to download the materials from http://edzollars.com/2005-12-03_Alimony_Defintion.pdf.
This week's podcast ...
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What is My Motive from 2005-11-25T21:00
This Podcast considers a case involving two doctors who receive funds from the local school to use for the education of their autistic child.
The doctors attempted to claim they wer...
Borrowing from Your IRA and Playing Russian Roulette from 2005-11-18T20:00
We look at a private letter ruling where the IRS made it clear that taxpayers who use the 60 day rollover rule to "borrow" from their IRA do so at their own risk, even if events completely...
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Substance Over Form: Who Can Assert It and When It Can Be Asserted from 2005-11-04T20:00
This podcast deals with three cases that pertain to attempts to have the court deal with the substance of a transaction as opposed to its form.
We'll discuss why the IRS can succeed...
What is the Value of that Donation? from 2005-10-27T21:00
This Podcast considers two recent Tax Court cases that dealt with contributions to charity and the values of the items donated. In one case, the item donated was a car while in the other ca...
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Does Anybody Know What Time I Filed? from 2005-10-20T21:00
This Podcast covers the issues surrounding the use of the mail and electronic filing to prove a filing date. The materials can be downloaded by clicking Listen
Circular 230 Update from 2005-10-14T21:00
This podcast is based on a September 20, 2005 talk by Ed Zollars for the Arizona Society of CPAs on the changes to Circular 230 that became effective over...
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When a Loan Is Not a Loan (and When It Is) from 2005-10-07T21:00
This Podcast considers two Tax Court opinions released on the same day that both dealt with whether a transaction represented a loan to the taxpayer or was income. The cases are Listen
An unallocated arbitration award, as well as the limits of Cohan from 2005-09-23T21:00
This Podcast deals with arbitration awards and IRA accounts.
What happens when a taxpayer is awarded an amount in arbitration regarding the management of an IRA account, but the awa...
Getting a Second Chance to Elect from 2005-09-16T21:00
No, we're not talking about reconsidering your vote from last November. Rather, this podcast deals with both the automatic and discretionary extensions the IRS grants to make elections for ...
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Will That Be One Debt or Two? S Corporations, Shareholder Debt and Basis Detailed in Recent Tax Court Case from 2005-09-01T21:00
This Podcast considers a decision (Brooks v. Commissioner, TC Memo 2005 - 204) involving the impact of repaying S corporation debt during the year when, at the beginning of the year, the shareho...
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Tax Relief Available for Victims of Natural Disasters from 2005-08-31T21:00
Given the disaster that has taken place on the Gulf Coast with Hurricane Katrina and its aftermath, I've put together a quick and dirty summary of some of the tax issues involved in casualty los...
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Developments in the Dependency Exemption for Divorced Parents from 2005-08-25T21:00
This podcast deals with children of divorced parents.
Tax Court Summary Opinion (Oman v. Commissioner, TC Summary Opinion 2005-110)Listen
What's Up Doc? Medical Reimbursement Plans from 2005-07-28T21:00
This Podcast pertains to uninsured medical reimbursement plans--a structure that's not for everyone, but which is a perfect fit in the right situation.
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The $100,000 problem--Reportable and Listed Transactions from 2005-07-26T21:00
This Podcast deals with reportable transactions and the penalty for failure to disclose.
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Employee Business Expenses and Accountable Plans (Fixed Audio) from 2005-07-23T21:00
This Podcast deals with employee business expenses and reimbursable plans under Code Section 62(c).
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Employee Business Expenses and Accountable Plans from 2005-07-21T21:00
Weekly show 6 dealing with employee business expenses and reimbursable plans per IRC 62(c). You should download the "handout"<...
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First Thoughts on Strangi II 5th Circuit Decision from 2005-07-17T21:00
This presents a "first day" view of the Strangi decision issued by the Fifth Circuit Court of Appeals.
Self Employed Health Insurance Deduction from 2005-07-15T21:00
The self-employed health insurance deduction under IRC Section 162(l) is covered by this podcast.
Information for the podcast is found at Listen
State Residency Issues on Fiduciary Returns from 2005-07-07T21:00
This podcast deals with how three states determine if a trust or estate is a resident or nonresident entity, as well as containing a discussion of how to approach state filing issues in g...
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Self-Employment Tax and LLCs from 2005-07-01T21:00
The status of self-employment tax and limited liability companies. This a portion of a presented made at the Phoenix Tax Workshop. The Listen