Podcasts by Current Federal Tax Developments

2023-12-11 First ERC Challenge in Court from 2023-12-10T23:03:32

Challenge to IRS ERC guidance based on failure to follow the APA filed, IRS sends out over 20,000 ERC claim denial letters and more.

2023-12-04 State Law Limited Partners and Self Employment Tax from 2023-12-03T21:38:33

Tax Court ruling on whether a state law limited partner automatically qualifies for relief from self-employment income allocation, FinCEN finalizes 2024 extension rule and rule.

2023-11-27 FinCEN Becomes Part of ERC Fraud Enforcement from 2023-11-25T22:20:21

FinCEN becomes part of ERC enforcement and the IRS pushes back Form 1099-K changes one more year.

2023-11-20 FinCEN FAQ Update for BOI Reporting from 2023-11-18T23:16:56

FinCEN releases new FAQs for the beneficial ownership rules under the Corporate Transparency Act.

2023-11-13 IRS Completes Inflation Adjusted Number Lists for 2024 from 2023-11-11T19:41:27

This week we look at:

• Inflation adjusted numbers for 2024 issued by the IRS

• Minor revisions made in final BOI Fi...

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2023-11-06 Retirement Plan Numbers Released for 2024 from 2023-11-04T20:39:50

IRS issues retirement plan numbers for 2024, again extends the 45 day grace period for §41 refund claims and more.

2023-10-30 Boyle Decision Applies to Electronic Filing from 2023-10-29T23:07:05

Eleventh Circuit rules taxpayers cannot show reasonable cause for late filing by arguing reliance on preparer to file returns and more.

2023-10-23 An Offer The Actor Should Have Refused from 2023-10-21T19:13:48

IRS rolls out program to withdraw certain ERC claims, actor's estate deals with IRA issues and more.

2023-10-09 EV Credit Transfer to Dealer Guidance Issued from 2023-10-08T16:35:40

IRS issued guidance on EV credit transfers to car dealers beginning in 2024, warning about marketed art donation tax program and more.

2023-10-02 Limited Delay in Some CTA BOI Initial Report Filing Dates from 2023-09-30T20:58:46

FinCEN proposes granting 60 additional days for entities formed in 2024 to file initial BOI reports, IRS reduces PTIN fees and more

2023-09-25 FinCEN Issues Guide for Small Business CTA BOI Reporting from 2023-09-23T21:50:39

FinCEN issues guide for small businesses and beneficial ownership reporting, common law mailbox rule can't be used to prove timely filing and more

2023-09-18 Halt in ERC Claim Processing for New Claims from 2023-09-16T21:05:28

IRS halts processing of newly received ERC claims temporarily and reasonable cause for penalty relief.

2023-09-11 Better Late Than Never Section 174 Guidance Arrives from 2023-09-10T22:24:42

IRS finally releases guidance on TCJA changes to IRC Section 174 and a late season update to K-2/K-3 FAQ

2023-09-05 Electronic Filing of Information Return Mandate Issues from 2023-09-02T19:50:11

This week we look at:

• HHS sends letter to DEA recommending that marijuana be reclassified as a Schedule III drug

• Listen

2023-08-28 Week of IRS Delaying Requirements from 2023-08-27T22:58:16

IRS delays effective dates for digital asset reporting and forcing catch-up contributions of high earners to be made to designated Roth contributions.

2023-08-21 Renting The Owners' Homes To Their Business Didn't Work As Well As Expected from 2023-08-20T22:41:57

Doctors discover the limits of the rent your home to your business tax strategy, IRS publishes memo address trust based tax shelter and more.

2023-08-14 IRS Issues Warning for Certain ESOP Programs from 2023-08-12T23:52:27

Warning issued about certain ESOP plans, taxpayer cannot accelerate deduction of nonqualified deferred compensation due to sale of business and more.

2023-08-07 IRS Finally Tells Us Their Position on Staking Rewards from 2023-08-05T22:52:16

IRS rules on taxable status of staking rewards, proposes to add new listed transaction and more.

2023-07-31 The ERC Hearing Before Congress Left for the August Recess from 2023-07-30T22:47:24

Oversight Subcommittee of the House Ways & Means Committee holds hearing on ERC issues. IRS greatly reduces announced visits by Revenue Officers and more.

2023-07-24 IRS Makes Clear Its Position on Extended Supply Chain ERC Claims from 2023-07-24T00:10:42

IRS issues a memo indicating its displeasure for extended supply chain justifications for ERC, 3rd Circut decides that 90-day deadline for filing a deficiency petition is open to equitable relief a...

2023-07-17 IRS Extends RMD Relief by One Year from 2023-07-16T23:46:22

This week we look at the IRS guidance on RMDs, extending RMD relief by one year, filing date relief for victims of Vermont flooding and more.

2023-07-10 Research Credit Blues from 2023-07-10T00:12:39

Research credit denied to S corporation and penalties imposed, why a request to be treated as a §501(c)(3) organization was denied and more.

2023-07-03 Supreme Court, Protective Claims and 965 Transition Tax from 2023-07-03T18:11:30

Protective claims become an issue as the Supreme Court accepts a case on the validity of 965 transition tax, IRS releases some draft 2023 partnership income tax forms and more.

2023-06-26 Sherlock Holmes and Tax Research from 2023-06-25T23:52:58

We look at issues people run into in tax research, IRS ends COVID-19 HDHP relief and more.

2023-06-19 What Could Be the Harm of Filing an ERC Claim? from 2023-06-19T01:50:10

OIRA will no longer review IRS regulations prior to publication, IRS releases most recent consolidated accounting method change revenue procedure and more.

2023-06-12 Opening Offer in Negotiations for 2023 Tax Package from 2023-06-12T00:20:16

Ways and Means Chair introduces 3 tax bills, starting negotiation season for any 2023 tax bill, IRS grants relief to allow partnership to make late election not to claim bonus depreciation and more.

2023-06-05 Hobby Losses Expenses Effectively Nondeductible from 2023-06-05T00:59:48

Hobby losses ruled to be miscellaneous itemized deductions, Fourth Circuit rules that multiple factors must be considered in determining if C corporation owner compensation is reasonable and more.

2023-05-30 Failure to File Claim Via Certified Mail Was a Bad Idea from 2023-05-29T22:58:51

IRS issues yet another ERC warning, Fourth Circuit finds that Section 7502 replaces mailbox rule for tax filings and more.

2023-05-22 Supreme Court and IRS Giving Notice of Summons from 2023-05-21T23:53:10

Supreme Court rules in favor of the IRS on notice of summons issue, HSA numbers for 2024 released and more.

2023-05-15 The PEO and Your ERC Refund from 2023-05-15T01:18:10

IRS memo outlines potential risk if PEO gets behind on its taxes, IRS plans to revise 2023 Form 1065 Schedule K-1 and more.

2023-05-08 Time Zones and Timely Electronic Filings from 2023-05-07T23:30:21

Tax Court decides when the last second is to file a Tax Court petition, IRS issues CCA reminding taxpayers of documentation rules for 125 plans and more.

2023-05-01 Court Unimpressed by Claimed CRAT Magic from 2023-05-01T11:52:29

The Tax Court is unimpressed by a "magic" promoted CRAT tax shelter, more rulings on cryptocurrency taxation and more.

2023-04-23 Catching Up After Tax Season from 2023-04-23T21:50:43

FinCEN issues an FAQ on reporting under the Corporate Transparency Act, another taxpayer fails to qualify as a real estate professional and more.

2023-04-03 EV Battery Rules Released from 2023-04-02T23:14:58

IRS released EV battery proposed regulations, releases guidance on IDGTs and basis adjustment at death, and more developments.

2023-03-26 ERC Scams Lead the Dirty Dozen from 2023-03-26T22:19:53

IRS lists ERC scams at the top fo 2023's Dirty Dozen tax scams, IRS looks at when NFTs are collectibles and more.

2023-03-20 Taxes and Medical Expenses from 2023-03-19T23:20:12

Trust ruled not to qualified as a CRAT and then deals with medical expenses.

2023-03-13 Seaview Trading Reversed in Ninth Circuit from 2023-03-12T22:36:13

Ninth Circuit reverses Seaview in en banc ruling, more ERC warnings and another S corporation turns out not to be an S corporation.

2023-03-06 Non-Willful FBAR Penalty is on a Per-Form Basis from 2023-03-04T22:25:40

Supreme Court resolves split among circuits on non-willful FBAR penalties, two court cases deal with purported loans and more.

2023-02-27 More Information Returns Required to be E-Filed from 2023-02-26T23:08:57

IRS issues regulations to expand required information return e-filing

2023-02-20 IRS Starts Allow Some Online Uploads of Documents for Notices from 2023-02-20T00:09:03

IRS starts accepting online uploads in response to some notices, SECURE Act 2.0 creates major problems if drafting error not fixed and more.

2023-02-13 State Payment Relief for Taxpayers from 2023-02-11T23:06:15

IRS decides most state payment programs do not produce taxable income, E-filed amended returns can now request direct deposit and more.

2023-02-06 Reconsidering EV SUVs from 2023-02-05T22:57:51

IRS revises guidance on what is an SUV for the Clean Vehicle Credit and issues proposed Revenue Procedure for tips reporting.

2023-01-30 Welcome to IRIS from 2023-01-30T00:37:31

IRS starts receiving returns and opens up information return electronic filing portal.

2023-01-23 IRS Says Phones Are Improving from 2023-01-23T00:20:04

IRS grants an extension of time to file to those impacted by storms in Georgia and Alabama, the IRS states they are now answering the practitioner line in 10 minutes on average and more.

2023-01-16 The IRS Memos on Cryptocurrency from 2023-01-15T14:24:20

The IRS issues two memorandum on tax issues related to cryptocurrency, certain California taxpayers have until May 15 to file returns this year, and more.

2023-01-09 S Corporation Warts Review from 2023-01-09T00:30:19

Looking at issues with S corporations.

SECURE 2.0 Act of 2022: A Quick Summary from 2023-01-02T19:27:11

Congress passed the SECURE 2.0 Act of 2022 that was signed into law on December 29, 2022. This program gives a brief overview of the provisions of this Act that will help tax profession...

2023-01-03 Vehicle Credit Guidance End of Year Extravaganza from 2023-01-02T19:22:40

IRS release a lot of end of year automobile related guidance and the final version of the partnership Schedules K-2 and K-3 instructions released.

2022-12-27 IRS Delays Expanded Form 1099 K Reporting Requirements from 2022-12-26T18:08:06

Congress passes the SECURE 2.0 Act of 2022, IRS delays certain reporting requirements and more.

2022-12-19 IRS Looks at Plan That Claims to Defer Recognition of Legal Fee Income from 2022-12-19T01:23:06

IRS Issues memo on why a marketed program to defer recognition of legal fee income doesn't work, automatic accounting method change procedure for §174 issued and more.

2022-12-12 Try Two on K-2 and K-3 Instructions from 2022-12-11T23:01:04

IRS issues second draft instructions for Schedules K-2 and K-3 and deals with recent court losses

2022-12-05 So Many Ways to Entirely Lose a Loss Deduction from 2022-12-04T19:57:17

IRS releases the first IRA 2022 guidance and a taxpayer loses a loss deduction completely due to a large number of problems.

2022-11-28 Difficulties Using LLC as Legal Entity for S Corporation from 2022-11-27T20:07:08

Taxpayer's damages settlement was taxable income, a refund suit is filed too early and amending an LLC operating agreement accidentally terminated S corporation status.

2022-11-21 IRS News Releases from 2022-11-20T23:43:37

IRS issues news releases on qualified charitable distributions from IRAs and on upcoming Seventh Annual National Tax Security Awareness Week.

2022-11-14 Impacts of the Election on Tax from 2022-11-13T20:59:53

Tax Court finds IRS must follow Administrative Procedures Act when added to listed transaction list for §6707A, speculation on the impact of the election on lame duck session tax matters and tax is...

2022-11-06 S Corporation Schedule K-2 and K-3 Draft Instructions Also Released from 2022-11-06T19:00:17

IRS releases draft 2022 Form 1120S Schedule K-2 and K-3 instructions, taxpayer discovers tax benefits alone don't equate to a profit motive and more.

2022-10-31 Partnership Schedule K 2 Draft Instructions Issued from 2022-10-30T13:58:40

The IRS opens up 2023 PTIN renewals and releases draft partnership K-2 and K-3 instructions with revised exceptions to filing.

2022-10-24 Two Sets of Inflation Adjusted Numbers Released by IRS from 2022-10-22T18:21:07

IRS announces and begins pilot program to block automated calling systems and inflation adjusted 2023 numbers released.

2022-10-10 SECURE Required Minimum Distribution Relief from 2022-10-08T21:09:30

IRS gives relief for certain required minimum distributions found in SECURE Act proposed regulations, major S corporation relief procedure issued and more.

2022-10-03 Beneficial Owner Reporting Requirement Coming in 2024 from 2022-10-02T21:33:44

FinCEN finalizes beneficial owner reporting rules that will apply in 2024, Hurricane Ian filing relief issued and more.

2022-09-26 IRS News Releases Emphasizing Recent Guidance from 2022-09-24T21:51:12

IRS releases two news releases emphasizing guidance we discussed in recent weeks.

2022-09-18 New PPP Loan Tax Guidance Appears from 2022-09-18T21:34:55

This week we see the IRS issue guidance on taxation of a borrower who receives PPP loan forgiveness the borrower did not deserve and the AICPA adds more requests for expansion of penalty relief.

2022-09-11 Proposed EARN Act from 2022-09-11T20:10:56

EARN Act sent to the Senate floor, IRS accidentally posts Form 990-T data that was not required to be revealed, and a taxpayer is denied reasonable cause relief.

2022-09-06 AICPA Action Week from 2022-09-05T16:29:41

AICPA issues proposed revisions to Statements on Standards for Tax Services along with comments to the IRS on additional K-2 and K-3 guidance and request for more time to file returns qualifying fo...

2022-08-29 IRS Releases Penalty Relief from 2022-08-28T22:30:26

IRS releases significant penalty relief, National Taxpayer Advocate adds more context and more this week.

2022-08-22 First IRA 2022 Guidance Released from 2022-08-21T22:06:55

This week we look at the release of list of electric cars with final assembly in North America, IRS guidance on plug in vehicle credit for remainder of 2022 and more.

2022-08-15 Highlights of the Inflation Reduction Act of 2022 from 2022-08-14T22:24:55

We look at some key provisions for CPAs working with individuals and non-public companies in the Inflation Reduction Act of 2022.

2022-08-08 Revised Virtual Asset Question for 2022 Form 1040 from 2022-08-08T01:27:14

This week we look at where we are on the IRA 2022 bill, a costly divorce decision for the payor and more.

2022-08-01 IRA of 2022 - Will It Pass and What Is In It? from 2022-08-01T13:06:23

Yet again we have a reconciliation bill. Will this one pass and what is in it that impacts taxes? Taxpayer needs to file 2020 Form 1040 if IRS failed to send economic impact payment and IRS warns...

2022-07-25 You Can't Rely on Your Accountant Spouse from 2022-07-24T23:26:55

TAM rules on impact on the 5/10 material participation rule of prior year qualification under SPA test, accountant's spouse denied innocent spouse relief and more.

2022-07-18 Lack of a 1099 and Reasonable Cause from 2022-07-17T20:50:47

Reconciliation bill discussions break down, taxpayer denied charitable contribution and more.

2022-07-11 IRS Liberalizes Late Portability Election Relief from 2022-07-11T00:33:12

IRS extends automatic portability election relief to five years, talks start again on reconciliation bill and more.

2022-07-05 TAS Starts Accepting Referrals from Congress from 2022-07-04T19:16:19

TAS begins accepting referrals from Congressional offices on 2021 and earlier returns, Fifth Circuit holds substantial compliance does not apply to provisions set by statute, etc.

2022-06-27 IRS Falling Further Behind Dealing with Paper from 2022-06-26T21:31:27

IRS and National Taxpayer Advocate release information on paper return processing, Supreme Court to take on FBAR penalty case and more

2022-06-18 Innocent Spouse Does Not Work for Payroll Tax Issues from 2022-06-18T16:28:28

Innocent spouse relief ruled not available for payroll tax matters, when are clothes a business expense and more.

2022-06-13 Car Mileage Rate Increases from 2022-06-13T01:21:13

IRS revises mileage rates mid-year and a taxpayer is denied relief from failing to file Form 3115

2022-06-06 Importance of Keeping Records from 2022-06-06T01:25:25

AICPA sends letter to IRS on guidance for §174 amortization; a discussion of basis issues for S corporations

2022-05-31 Importance of Strict Compliance With Contribution Documentation Rules from 2022-05-30T17:06:12

Taxpayer discovers her documentation is inadequate for her charitable contribution and IRS rules a retail drug business can be a qualified §1202 trade or business.

2022-05-23 What Qualifies as Alimony from 2022-05-23T12:14:10

A physician's payments to a former spouse were not alimony for tax purposes, IRS extends remote plan document signing, and more.

2022-05-15 Was Return Given at IRS Request Really Never Filed from 2022-05-15T21:45:06

Taxpayer argues return given to IRS agent at agent's request begins running of the statute, IRS destroys 30 million information return, and more.

2022-05-08 S Corporation Dies Two Years After Shareholder Does from 2022-05-08T23:47:09

S corporation has to apply for PLR due to failure to follow trust document, first inflation adjusted numbers for the year, and more.

2022-05-02 A Problem with Management Fees from 2022-05-01T19:35:16

Issues with the special for military disability benefits and retirement pay, IRS pushes back date for electronic filing of S corporation Schedules K-2 and K-3 and more

2022-04-25 Taxing Times for Retired Airline Pilot from 2022-04-23T17:44:09

A discussion of the no-additional cost employee fringe benefits, the IRS adds more Q&As to the K-2/K-3 FAQ, and more.

2022-04-04 SECURE Act Second Version Passes House from 2022-04-03T22:59:02

The House passes a new retirement plan reform bill, IRS suspends more notices and more.

2022-03-28 Crowdfunding Tax Fact Sheet from 2022-03-28T00:28:10

IRS gives information on taxation of crowdfunding fact sheet, Ninth Circuit agrees with Tax Court that legal award was taxable and more.

2022-03-21 Limits for Vehicle Depreciation for 2022 from 2022-03-20T22:38:29

IRS releases 2022 auto depreciation numbers, guidance for farmers and fisherman on underpayment penalty relief finalized and more.

2022-03-14 Personal vs Business Expenses from 2022-03-13T22:27:55

Department of Labor cautions 401(k) plan fiduciaries about offering digital asset investment options, corporation fails to obtain a deduction as expense found to be personal and more.

2022-03-07 Farmer and Fisherman Tax Software Relief from 2022-03-06T20:29:16

IRS grants relief to farmers and fisherman due to tax software issues, Justice Department files motion to dismiss staking case and more.

2022-02-28 At Least One Couple Were Not Tax People from 2022-02-28T01:37:22

Taxpayers discover they get no penalty relief for a data entry error, new proposed regulations for required minimum distributions and more K2/K3 issues.

2022-02-21 IRS Issues Additional K-2 and K-3 Filing Relief - How Much Does It Help? from 2022-02-20T20:28:23

The IRS's special 2021 tax return relief for filing Schedules K-2 and K-3 are the big issue for this week. We look at the general rule that existed before, and the special 2021 rule that may allow...

2022-02-14 IRS Suspends Issuing More Notice Types from 2022-02-13T19:54:33

The IRS suspends the issuance of more notice types to attempt to catch up on the growing backlog, LB&I starts a new partner basis campaign and more.

2022-02-07 TaxPros Account Improvements Coming from 2022-02-06T19:53:09

Continuing the discussion of K-2/K-3 issue and news on upcoming upgrades to TaxPros accounts.

2022-01-31 There are K-2s and K-3s in Your Future from 2022-01-30T00:43:48

The IRS updates instructions for Schedules K-2 and K-3 and we look at IRS notices issues and actions.

2022-01-24 Forms and Instructions Week from 2022-01-23T19:37:02

IRS update substantially equal payments guidance, finalizes Form 7203 and issues guidance via instructions.

2022-01-17 IRS Pressured to Grant Broad Relief for Automated Notice Issues from 2022-01-16T19:05:46

IRS sees increasing pressure to grant some form of relief on penalties and notices, IRS announces start of tax season on January 24 and more.

2022-01-10 Expenses Used for PPP Forgiveness and S Corporations from 2022-01-09T12:49:11

IRS addresses how to treat expenses used to obtain PPP forgiveness in computing S corporation AAA, IRS publishes IRM changes to implement change in handling research credit refund claims and more.

2021-01-03 IRS Changes Web Guidance Quietly from 2022-01-01T01:35:50

The IRS quietly changes web guidance on Ida relief, a valuation issue discussed in IRS memorandum and more.

2021-12-27 Day After Boxing Day Edition from 2021-12-26T19:45:50

IRS and Malta issue guidance to shut down tax shelter, Hurricane Ida relief date pushed back to February 15 and more.

2021-12-20 BBBA Is Not Coming Soon from 2021-12-20T00:23:42

Congress leaves town without passing BBBA, Senator Manchin announces he's a no vote on the bill, the IRS releases the 2022 mileages rates and more.

2021-12-13 Quarter 4 ERC Guidance from 2021-12-11T23:11:29

IRS released fourth quarter ERC guidance, a case involving community property and taxation in the year of a divorce and more.

2021-12-06 BBA Email Week from 2021-12-05T22:14:12

IRS issues two email responses on BBA issues and a spouse found to have tacitly agreed to joint return filing on a return she didn't sign.

2021-11-29 ERC Developments Return from 2021-11-27T14:40:47

First informal guidance published by the IRS on the repeal of the ERC for the fourth quarter for most employers, agents to be trained to examine ERC and more.

2021-11-22 Self-Directed IRA Problems from 2021-11-21T18:46:45

A taxpayer runs into issues with her self-directed IRAs, the IRS releases guidance on the timing of PPP loan forgiveness and more.

2021-11-15 Inflation Adjusted Tax Numbers Released from 2021-11-14T00:44:37

IRS releases inflation adjusted numbers for 2020, TAS announces it won't give assistance on delayed processing of amended returns that have no other issues and more.

2021-11-08 Tax Provisions in the Infrastructure Investment and Jobs Act from 2021-11-08T00:12:18

We look at the tax provisions of the Infrastructure Investment and Jobs Act, as well as the IRS release of inflation adjusted retirement plan numbers for 2022.

2021-11-01 Build Back Better Act Draft - Tax Provisions from 2021-11-01T01:31:27

A first look at the draft version of the Buy Back Better Act that was released this week, looking at what items are no longer part of the bill and key items in the bill.

2021-10-25 S Corporation Basis Reporting on Form 1040 from 2021-10-24T13:40:41

IRS releases official draft of S corporation basis form for 2021 Forms 1040, provides some qualified plan guidance for rehiring employees and more.

2021-10-18 Can Taxpayers Rely on IRS FAQs? from 2021-10-17T21:08:16

Congress continues to negotiate new tax bill, IRS notes the limits of FAQs and more.

2021-10-04 Hobby Loss Deduction Problem from 2021-10-03T14:30:34

The Tax Court discusses the proper place to deduct hobby loss expenses on a tax return, the IRS to impose a fee for estate tax closing letters and more

2021-09-27 Issues with Buy Sell Arrangement from 2021-09-27T00:04:14

A taxpayer had a number of issues in Tax Court and a buy-sell agreement did not control the value of shares for estate tax purposes.

2021-09-20 Reasonable Cause to Avoid Substantial Understatement Penalty from 2021-09-19T20:57:11

Ways and Means completes mark-up of tax bill, taxpayer finds entire amount of legal settlement taxable and taxpayer has reasonable basis to avoid penalties

2021-09-13 Is an Amended Return Required? from 2021-09-12T22:18:14

Looking at if an amended return is required, IRS updates special per diem rates and gives information on W-2 COVID leave information to be reported for 2021.

2021-09-05 E Signature for Some Paper Forms Made Permanent from 2021-09-06T16:04:18

The IRS makes previously temporary e-Signature options permanent and we discuss the role of "unambiguous" text in interpreting the IRC in view of SCOTUS directive in Connecticut National Bank on in...

2021-08-30 Looking for a Business is Not a Business from 2021-08-29T23:15:53

A taxpayer spending money to look for a trade or business is not in a trade or business and the IRS issues a PMTA that finds the law requires a hefty penalty for employers that don't timely pay def...

2021-08-23 Looking at State Level Passthrough Entity Taxes from 2021-08-23T01:01:14

A taxpayer failed to show loss resulted from 1244 stock and a look at the state passthrough entity taxes

2021-08-16 More Grief Over Timely Filing Rule from 2021-08-15T19:23:42

IRS gives additional guidance on ERC gross receipts test, depreciation limits announced and yet again we have a case involving timely filing decided in the courts.

2021-08-09 We Were Right in April Unfortunately from 2021-08-07T13:11:27

IRS releases more guidance on ERC, including key problem with claiming the credit on wages of majority owner and spouse and more.

2021-08-02 PPP Loan Program Changes Return from 2021-07-31T19:36:23

SBA makes modifications to PPP loan forgiveness process, IRS expands employer paid leave credit to cover more vaccination related leave and more.

2021-07-26 Proposed S Corporation Basis Forms from 2021-07-25T01:56:59

IRS asks for comments on proposed basis reporting form to be filed with Form 1040 for S corporation shareholders, a taxpayer is unsuccessful in asserting the Cohan doctrine, and more.

2021-07-19 Tax Practice Issues Week from 2021-07-18T21:09:48

Digitally signed return found not to be properly submitted, AICPA confirms PPP pre-forgiveness necessity inquiries by SBA to end and more.

2021-07-12 Information Letter Week from 2021-07-11T15:08:59

The IRS releases a batch of information letters covering various topics, an IRS agent runs into tax home problems and other developments.

2021-07-05 Supreme Court Declines to Hear Dispute Over State Taxation of Nonresidents from 2021-07-05T18:23:22

The Supreme Court refuses to hear a case regarding state taxation of remote employees, the IRS publishes draft instructions for new Forms K-2 and K-3 along with penalty relief procedure and more.

2021-06-28 Is the PPP Questionnaire Going Away? from 2021-06-28T18:00:52

SBA reportedly dropping the PPP loan necessity questionnaire for large borrowers, IRS extends remote witnessing rules for certain qualified plan documents and more.

2021-06-21 ACA Survives Another Trip to SCOTUS from 2021-06-20T22:18:16

Supreme Court again upholds the ACA-or decides not to decide if it should be upheld. The IRS also releases guidance due to the backlog of unprocessed returns.

2021-06-14 Tax Status of Legal Settlement from 2021-06-13T23:40:34

A taxpayer discovers the legal settlement she received is taxable, the IRS discusses the 2021 child and dependent care credit and more.

2021-06-07 Perhaps Tax Instructions Aren't Just for Attorneys from 2021-06-07T00:07:07

The Senate Parliamentarian changes the odds for a major law change passing soon, long time CPA gets hit with his own FBAR penalties and more.

2021-06-01 Is It Already Too Late To Sell to Get Long Term Capital Gain Rates from 2021-05-31T20:11:58

Green Book gives us an effective date for the proposed change in capital gains, more information on the unemployment exclusion in community property states.

2021-05-24 ARPA COBRA Premium Assistance Questions and Answers from 2021-05-24T19:27:22

IRS releases 41 pages of questions and answers on COBRA Premium Assistance Program and

2021-05-17 Direct Submission to CAF Coming from 2021-05-17T11:34:09

The IRS aims for July to roll out more advanced POA submission portal, HSA numbers for 2022 released and more.

2021-05-10 Summons and Cryptocurrency Exchanges from 2021-05-09T20:39:41

The IRS sends John Doe summons to Kraken cryptocurrency exchange, IRS discusses aircraft and sole proprietors and more

2021-05-03 Community Property Unemployment Exclusion Windfall from 2021-05-02T20:44:10

IRS looks at the unemployment exclusion and community property states, the While House publishes a fact sheet on their most recent tax proposal and more.

2021-04-26 IRS Extends Deviation for Electronic Signatures from 2021-04-25T16:49:20

The IRS extends special rule for accepting electronic and digital signatures, the agency acknowledges issues with April 15 MeF payments and more.

2021-04-19 Why the Federal Tax Alimony Test Still Matters from 2021-04-17T18:36:03

Alimony issues still are relevant for many taxpayers, the IRS discusses deductible medical costs and more

2021-04-12 Overpaying on May Extensions from 2021-04-11T15:12:43

We look at what will happen to 2020 Form 1040 overpayments applied to 2021 taxes for underpayment penalty purposes, the IRS defines what is a restaurant and more.

2021-04-05 Entering Tax Section 51 - Odd Things Happen Here from 2021-04-04T16:52:41

A look at the odd situation under §51(i)(1) and the employee retention credit, plus additional IRS guidance issued this week.

2021-03-29 IRS Quietly Revises Unemployment Worksheet from 2021-03-27T22:11:06

IRS quietly updates how to calculation modified adjusted gross income for ARPA unemployment exclusion, PPP loan program extended and more.

2021-03-21 Tax Season for 1040s Only Goes On One More Month from 2021-03-21T16:25:32

IRS finally relents and extends the tax deadline for Form 1040s only to May 17, but keeps 1st estimate for 2021 due on April 15, as well as other developments

2021-03-15 American Rescue Plan Act of 2021 from 2021-03-14T22:39:59

Congress has passed and the President has signed into law the American Rescue Plan Act of 2021 which we look at this week in summary.

2021-03-08 Employee Retention Credit and PPP Forgiveness from 2021-03-07T15:19:56

The IRS finally releases guidance on how the 2020 revised employee retention credit interacts with PPP loan forgiveness applications, gives more guidance on virtual currency question on Form 1040 a...

2021-03-01 Will We See a New Tax Bill from 2021-02-28T01:42:49

The House passes a new tax bill, late changes are made to the PPP loan program again.

2021-02-22 Should April 15 Be Pushed Back Again from 2021-02-20T23:07:19

§280E bars more than just §162 deductions, taxpayer cannot claim legal malpractice award as being related to physical injury, calls come to push back filing deadline and more.

2021-02-15 Substance Over Form for Taxpayers from 2021-02-14T22:02:25

Taxpayer fails to get FBAR penalty relief, Tax Courts outlines when it will allow a taxpayer to argue substance over form, and IRS warns about a phishing scam.

2021-02-08 Virtual Currency Confusion from 2021-02-06T22:12:16

Form 1040 instructions add to the confusion over virtual currency question on return, IRS orders banks to issue corrected Forms 1099 for SBA loan payments and more.

2021-02-01 Upload Your POAs from 2021-01-30T17:48:48

IRS gives advice to victims of unemployment compensated related identity theft, a revised Form 7200 released in draft form that indicates how employers will claim the advance employee retention cre...

2021-01-25 PPP and ERC Clarifications For CAA Changes from 2021-01-24T16:58:57

The IRS releases first guidance on revised 2020 ERC program, limited penalty relief provided for tax basis capital reporting on partners' K-1s, and a lot of SBA guidance on the PPP loan programs as...

2021-11-18 Hurry Up and Wait for Tax Season from 2021-01-17T19:56:49

The IRS delays the acceptance of returns until February 12, the IP-PIN voluntary program opens up nationwide and more.

2021-01-11 Revised PPP Program IFRs from 2021-01-10T16:42:25

This week we look at the two IFRs issued by the Small Business Administration for the revised PPP loan program.

2021-01-04 Statute of Limitations on Refunds for 2019 Returns from 2021-01-03T00:16:14

IRS finalizes accounting method regulations, proposes a user fee for estate tax closing letters, an email explains the statute of limitations and the added time to file 2019 returns, and more.

2020-12-28 ERC Changes That May Never Happen from 2020-12-27T19:30:37

A summary of employee retention credits found in the Consolidated Appropriation Act, 2021, a bill that is currently in limbo as the President has threatened not to sign the bill without specific ch...

2020-12-21 PPP Loans, Version 2.0 Proposal from 2020-12-19T23:54:22

The pieces of the proposed PPP provisions in the COVID-19 relief bill being negotiated by Congress for potential passage.

2020-12-14 Paying Tax on 1112 Payments from 2020-12-13T16:10:03

SBA indicates that §1112 payments made by SBA on §7(a) loans will be taxable to recipients, IRA gives some guidance on two CARES plan provisions, and more activity.

2020-12-07 IRS Security Week from 2020-12-06T15:32:14

IRS security week brings announcement of expansion of opt-in IP PIN program nationwide and advice to make use of multi-factor authentication and more

2020-11-30 Being Late Proves Costly from 2020-11-27T23:26:07

A taxpayer finds that the IRS does not generally give relief for late filed elections under IRC §475(f) as well the release of two sets of final regulations.

2020-11-23 A Reasonable Expectation of Forgiveness from 2020-11-21T20:14:24

IRS releases guidance for borrowers who have not received forgiveness by year end, more information will be requested on 2020 Form 1120-S Schedule K-1, and more.

2020-11-16 IRS Throws in the Towel on One SALT Workaround from 2020-11-15T17:34:18

IRS may be about to releases additional guidance on deducting expenses paid with PPP funds, IRS concedes that entity level tax SALT workarounds work and more.

2020-11-09 Slowing Down RMDs - But Not Until 2022 from 2020-11-09T01:37:34

IRS issues revised tables for computing RMDs effective in 2022, a taxpayer discovers believing your CPA filed an extension is not reasonable cause for late filing and more.

2020-11-02 SBAs Coming Questionnaire for Large PPP Loans from 2020-11-01T15:53:28

The SBA announces questionnaires for large PPP borrowers and an unconfirmed copy is distributed online, the IRS gives instructions on preparing W2s for employers that deferred employee FICA from Se...

2020-10-26 Tax Basis Capital Accounts and the 2020 Form 1065 from 2020-10-25T16:59:12

IRS releases draft Form 1065 that indicates tax basis capital account will be required on 2020 K-1s, FBAR returns get a short extension of time to file and more.

2020-10-19 FAQs Not Protected from Scrutiny as IRS Had Hoped from 2020-10-17T20:25:57

SBA clarifies the deadline to apply for forgiveness, IRS quietly changes view on the computation of QBI, and more.

2020 10 12 Simplified PPP Forgiveness Application for Small Loans from 2020-10-10T16:41:09

The SBA issues new guidance, including a simplified forgiveness form for borrowers with loans of $50,000 or less, the IRS begins using QR codes on notices and more

2020-10-05 PPP Loans and Change of Ownership from 2020-10-04T16:01:54

The SBA outlines the issues that arise with a change in ownership with a PPP loan outstanding and the IRS finalizes two sets of regulations.

2020-09-28 Excess Deductions Will Actually Be Deductible - Final from 2020-09-26T23:50:06

IRS issues final regulations on excess deductions on depreciation and bonus depreciation, as well as relief for the CCH e-file problems from September 15.

2020-09-21 Revised Forms Issued for COVID-19 Relief from 2020-09-19T16:44:21

The IRS publishes new draft for self-employed to claim FFCRA sick pay credits, updates the Form 941-x to allow revising second quarter and more.

2020-09-14 What Is Not Part of a Signature? from 2020-09-13T20:37:10

IRS issues guidance on the SECURE Act retirement provisions, Tax Court finds an IP PIN is not part of a signature for electronic filing and more.

2020-09-07 Remember the SECURE Act? from 2020-09-05T20:49:14

The IRS outlines information on a number of retirement plan changes adopted at the end of 2019, a minister learns a hard lesson about payroll tax rules for ministers and churches and more.

2020-08-31 Excellent Guidance to Confirm Fears from 2020-08-29T21:11:36

IRS issues payroll tax holiday guidance late on Friday afternoon, the SBA adds more PPP loan program guidance and more.

2020-08-24 The Week of the Two Letters from 2020-08-22T18:35

US Chamber of Commerce sends letter with issues on payroll tax holiday and Chair of Ways & Means asks IRS to slow down sending notices until the mail backlog is under control, and more.

2020-08-17 Checks Stuck in the Trailer from 2020-08-16T21:27:15

Taxpayer finds out the IRS won't waive the 60-day rollover period when they "borrow" money from their IRA to make a cash offer on a home and more.

2020-08-10 Deferring Employee FICA - Forgiveness? from 2020-08-09T14:16:10

Employee OASDI taxes to be deferred beginning September 1, but forgiveness is an unknown for now, SBA issues a PPP loan forgiveness FAQ and more.

2020-08-03 Rise of the Syndicates from 2020-08-02T19:34:06

The IRS finishes three regulation projects, with some key guidance in the small business accounting method proposed regulations. Also, the IRS announces Form 3115 for automatic changes will be rec...

2020-07-27 Third Time to Court on Conservation Easement from 2020-07-26T16:08:35

A taxpayers comes before the Tax Court for the third time on yet another issue--and again ends up with a loss. As well, the SBA indicates when it will begin accepting information from lenders to a...

2020-07-20 The Tax Court Deals with Debt Issues from 2020-07-19T14:23:37

Two cases look at cancellation of debt issues in the Tax Court this week, the IRS sets PTIN fees to restart for next tax season and more.

2020-07-13 BBA Audit Flowchart from 2020-07-12T22:32:33

IRS publishes a flowchart outlining BBA partnership audit process, Congress extends PPP loan program through August 8, and more

2020-07-06 What is Not Discussed from 2020-07-04T19:26:21

IRS described issues with marketing materials for CRAT shelter, a discussion of superseded returns and more.

2020-06-29 CARES Fix for the RMDs that Aren't RMDs from 2020-06-27T23:39:20

CARES Act guidance on returning distributions taken before 2020 RMD relief enacted in CARES Act, the parking lot tax gets more guidance and more.

2020-06-22 CARES Retirement Plan Rules Issued from 2020-06-21T17:26:38

Revised PPP forgiveness applications and rules issued by the SBA, CARES retirement plan rules guidance issued and more

2020-06-15 TCJA Returns! Like Kind Exchanges from 2020-06-14T13:36:41

IRS issues new proposed regulations on post-TCJA like kind exchanges, SBA issues first formal PPPFA guidance and more.

2020-06-08 Payroll Protection Program Flexibility Act Becomes Law from 2020-06-07T19:46:30

Congress revises the Paycheck Protection Program loans in legislation signed into law this week, IRS grants physical presence relief for plans and revisits tax basis capital issues for partnerships.

2020-06-01 Electronic Amended Returns Real Soon Now from 2020-05-30T21:33:44

New PPP bill come up in Congress, IRS announces electronic filing coming up for amended returns and other developments.

2020-05-24 PPP Loan Forgiveness Interim Final Regulations - Update from 2020-05-25T00:32:01

The latest update on the new interim final regulations on PPP Loan Forgiveness rules.

A PDF with information on both IFRS can be downloaded below.

Listen

2020-05-25 Just Kidding from 2020-05-25T00:20

A number of PPP guidance items are released, the IRS releases cafeteria plan guidance and more

2020-05-18 PPP Forgiveness Application from 2020-05-17T20:17:46

This week we look at the SBA's release of the PPP Loan Forgiveness Application and related instructions from Friday, May, 15.

An audio only version of this week’s session...

2020-05-11 One More Week to Return Funds And You Get ERC from 2020-05-09T17:08:49

Additional guidance issued on PPP loans by the SBA, the IRS issues guidance that brings complaints from top taxwriters, and more.

2020-05-04 No Deduction for You from 2020-05-02T22:05:47

A rush of PPP guidance, but still not any on the forgiveness calculation, IRS decides PPP expenses are not deductible and more

2020-04-27 Is This Necessary? from 2020-04-26T01:49:59

This week we look at Congress's addition to funding to PPP and EIDL programs, SBA issues guidance regarding borrowers deemed not to need PPP loan, and more.

2020-04-20 End of First Funding Round for PPP Loans from 2020-04-19T00:30:40

SBA gives guidance for the self-employed and partners for the PPP loan program, new guidance issued for dealing with qualified improvement property and more.

2020-04-13 The IRS Returns to Issuing Guidance from 2020-04-12T16:16:16

The IRS guidance on the recent laws starts coming out rapidly at the end of the past week, along with additional guidance to clarify some (but not all) PPP loan program issues from the SBA

2020-04-06 CARES Act Developments This Week Through the Morning of April 5 from 2020-04-05T20:11:05

Look at the Payroll Protection Program loans, including the developing guidance on the program, the initial rollout, as well as looking at the IRS's progress on the advance payment of the recovery ...

2020-03-30 Due Dates and CARES Act from 2020-03-29T19:26:47

Congress passes the CARE Act and the IRS clarifies which April 15 due dates are now pushed back to July 15, 2020.

2020-03-23 Moving Tax Day to July 15 from 2020-03-22T18:04:31

The week when change was the name of the game, ending with tax day being truly moved to July 15 after the first push back of only the payment date was subject of many complaints it only created con...

2020-03-16 Waiting for Relief from 2020-03-15T17:14:28

The week that saw an announcement to have Treasury issue filing date relief, but not the actual relief notice, as well the House passing a bill mandating paid sick time. As well, we look at other ...

2020-03-09 Sometimes Too Late is Just Too Late from 2020-03-08T18:24:56

IRS turns down a request for a late §475(f) election, looks at self-employment taxes and various loss limits and gives some foreign trust information return relief.

2020-03-02 Late Filing Week from 2020-03-01T19:49:55

The Supreme Court refuses to review the decision in a case dealing with the IRS's regulations for proving timely filing, an S corporation denied late filing relief and more.

2020-02-24 Meals and Entertainment Guidance; from 2020-02-23T22:09:48

Update on new proposed regulations on entertainment and meals released by the IRS.

2020-02-17 The Week of Fortnite and Schedule 1 from 2020-02-16T19:02:16

IRS urges tax professionals to make use of multi-factor authentication and clarifies what is meant by virtual currency (maybe).

2020-02-10 Waiting for the §163(j) Regulations from 2020-02-09T22:28:59

OIRA finishes looking at one set of §163(j) regulations and starts looking at another set, a taxpayer loses a $16 million charitable deduction and more.

2020-02-03 Western Wisconsin Week from 2020-02-01T19:41:14

Taxpayer barred from using claim of right deduction, decision reversed in statue of limitations case when contrary regulation considered and more.

Using RIA's Citator 2d from 2020-02-01T17:41:25

A quick video going over how to use the RIA Citator 2d to check on the status of various authorities uncovered in tax research.

2020-01-27 Real Soon Now from 2020-01-25T16:29:23

IRS promises to answer a key question "soon" in proposed regulations, Microsoft loses an FATP privilege case and more.

2020-01-20 Relief Week from 2020-01-19T17:11:56

Discussion of possible SALT workaround in proposed regulations (or not), cancellation of debt relief for certain students, and more.

2020-01-13 When Bad Things Happen Penalties and Disqualification from 2020-01-12T22:16:39

A look at two additional provisions of the SECURE Act, an ESOP plan gets disqualified and more penalty guidance comes out.

2020-01-06 Beginning a New Decade from 2020-01-04T20:41:27

A case from the archives on hobby loss rules, auto mileage rates for 2020 released by the IRS, and other developments.

2019-12-30 The Year's Big Tax Developments from 2019-12-29T23:33:38

A year with §199A final regulations, a year end tax bill, tax basis capital partnership controversy, the §199A FAQ, and the states go looking for tax money. That was 2019 in taxes.

2019-12-23 A Tax Bill for the Holidays from 2019-12-22T19:04:12

Congress gives us a year end tax bill, passing the SECURE Act unchanged, adding a number of extenders and getting rid of the tax exempt entity version of the parking lot tax.

2019-12-16 The Sound of Silence from 2019-12-15T00:36:42

IRS waives tax basis capital K-1 reporting rules for partnerships, more guidance on some SALT workarounds and silence on others.

2019-12-09 Bring in the Forms from 2019-12-08T15:29:42

The IRS releases a number of forms for the upcoming year, as well as guidance for agents on BBA partnership examination procedures

2019-12-02 Horses and Hobbies from 2019-11-30T02:18:43

Commissioner clarifies 1099 reporting for certain insurance payments, a horse business found not to be a hobby and more.

2019-11-25 Back to the FAQ from 2019-11-23T20:18:35

IRS discusses information security, §199A FAQ page updated by the IRS and more.

2019-11-18 Upcoming Events from 2019-11-16T20:10:27

Lots of guidance on TCJA issues to be released by end of January 2020, IRS loses Son of BOSS case and more.

2019-11-11 Indexing Week from 2019-11-10T19:43:06

The IRS releases two sets of indexing adjustments for 2020, proposes new life expectancy tables

2019-11-04 Both a Home and An Investment from 2019-11-04T01:06:34

Taxpayer gets IRS ruling that both §121 and §1031 apply to same series of sales, Wisconsin loses its attempt to tax sublicense fees and more.

2018-10-28 Denied Deduction Not Excessive Fine from 2019-10-26T11:53:48

California gives guidance on applying its market-based sourcing rule, §280E found not to be an excessive fine and more.

2019-10-21 It's All in the Forms (and Instructions) from 2019-10-20T21:20:21

IRS issues draft forms and instructions that indicate additional information required with 2019 returns, Social Security publishes inflation adjusted 2020 numbers and more

2019-10-14 Virtual Currency and Taxes from 2019-10-12T21:55:01

IRS releases more virtual currency guidance and expands the volunteer IP PIN program.

2019-10-07 Get Ready for the 2019 Passthrough Forms from 2019-10-05T15:47:07

Pennsylvania cites Wayfair as they create an economic nexus rule, IRS releases draft 1065, 1120-S and K-1s for 2019, and more.

2019-09-30 Rentals and the Safe Harbor from 2019-09-29T12:41:09

IRS finalizes safe harbor for real estate rentals under §199A, special per diem rates announced for year beginning October 1, 2019, Tax Court deal with a taxpayer claiming reasonable cause for late...

2019-09-23 Zombie Power of Attorney from 2019-09-21T21:47:57

A power of attorney that wouldn't die comes back to haunt an estate, IRS releases final bonus depreciation regulations and more.

Section 451 Week from 2019-09-14T17:33:17

IRS releases regulations for §451 changes made by TCJA and a student gets an expensive lesson in taxation.

2019-09-09 But I Promise, Really! from 2019-09-07T18:03:27

A promise to pay the plan doesn't count as a timely contribution, even if it is secured, IRS issues more informal guidance on computing qualified business income and more.

2019-09-03 No Horse, No Business from 2019-08-31T16:42:34

Taxpayer found not to have a horse business since she had no horse, gift of partnership interest when had previously had a debt financed distribution and more.

2019-08-24 Watching Paint Dry Doesn't Count from 2019-08-24T23:24:12

Taxpayers lose again in attempting to claim real estate professional status, a taxpayer held to be using the accrual method and more.

2019-08-19 George M Would Be Proud from 2019-08-17T17:46:25

Taxpayer gets a rare win on a Cohan issue, but that's about all that goes well; Estate cannot make use of economic disability statute extension and more.

2019-08-12 Toto Needs Sales Tax Money from 2019-08-10T16:06:26

Kansas adopts out of state seller rules with no de minimus amount, taxpayer cannot use preparer's failure to transmit electronic extension as reasonable cause for failure to file penalty, and more.

2019-08-05 About That Bitcoin from 2019-08-02T22:07:47

IRS sends out letter on cryptocurrencies, grants depreciation relief, and more.

2019-07-29 1982 Tax Form Nostalgia Week from 2019-07-26T23:02:29

The IRS goes back to 1982 to bring back an old form that the agency decides it needs again, 6 new compliance initiatives announced and more.

2019-07-22 The Short Lived 1040 Postcard from 2019-07-19T22:19:33

The IRS retires the much maligned 1040 postcard, replacing it with two virtually identical forms, a taxpayer fails to obtain an exemption for his child and more.

2019-07-15 Fixing Typos Proves to Be Hard from 2019-07-14T14:52:30

IRS releases preparer information security checklist, a bookkeeping error found to save a late IRA rollover and more.

2019-07-08 Congress Enacts the Taxpayer First Act from 2019-07-06T23:10:08

Congress enacts the Taxpayer First Act of 2019, the IRS issues new regulations and more.

2019-07-01 About that Drive from Florida to South Africa from 2019-06-30T22:14:34

A taxpayer's vehicle logs weren't found believable by the Tax Court, confirmation it's possible to have a combination commercial/residential rental business under §199A and more.

2019-06-24 Supreme Court Just Says No from 2019-06-22T22:21:45

The Supreme Court tells North Carolina they can't tax the income of a trust solely because a beneficiary is a North Carolina resident, §199A(g) proposed regulations released and more.

2019-06-17 Bring on the New HRAs from 2019-06-15T19:55:31

The IRS finalizes regulations creating two new types of HRAs for 2019 and dealing with state tax credits., as well as announcing changes in transcript delivery.

2019-06-10 Being Yourself as a Business from 2019-06-08T20:36:50

S corporation proves fragile again, IRS continues to roll own new TCJA withholding draft documents and more.

2019-06-03 Sweating the Details (or Lose Out) from 2019-06-01T17:07:14

In two different cases taxpayers lose benefits due to not getting the details right, the IRS tries again with a TCJA aware W-4 and more.

2019-05-28 Another New Tax Bill? from 2019-05-27T03:55:53

The House passes a new tax bill, the Commissioner promises upcoming guidance on virtual currencies and more.

2019-05-20 Schedule D Problem from 2019-05-18T22:58:35

Consideration of the Wolters Kluwer incident in week two, IRS finds an error in the Schedule D worksheet used during the past tax filing season and more.

2019-05-13 Malware, Cybersecurity and Tax Practice from 2019-05-12T02:05:14

Malware issue at software provider CCH, GAO issues report on cybersecurity, and more.

2019-05-06 Fragile Handle with Care: S Corporations from 2019-05-05T01:55:18

LLC operating agreement adoption clause treated as creating second class of stock and additional guidance.

2019-04-29 Q&A 33 - The IRS FAQ Says What? from 2019-04-27T19:00:38

The IRS quietly posted 21 additional questions and answers on Section 199A that includes a bit of a surprise, an IRS email makes clear that the agency does not believe PEOs can serve to make partne...

2019-04-22 IRS Gets Busy After Tax Season from 2019-04-20T18:30:48

IRS releases a pair of regulations, one on Opportunity Zones and the other on ESBTs, new draft forms issued to compute §199A deduction on 2019 returns and more.