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Federal Tax Update Podcast

The Ohio Society of CPAs

5
Followers
12
Plays
Federal Tax Update Podcast

Federal Tax Update Podcast

The Ohio Society of CPAs

5
Followers
12
Plays
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About Us

Federal Tax Update Podcast Series

Latest Episodes

2020-09-21 Revised Forms Issued for COVID-19 Relief

This week we look at: IRS discusses options for expedited private letter ruling requests Web page for marijuana industry posted by the IRS Corporation by law had no shareholders, thus no S election was possible Draft form to be used by self-employed to claim COVID-19 sick pay credits published Final version of Form 941-X to be used to revised 2Q 2020 Forms 941 released Copyright 2020, Kaplan, Inc.

31 min1 d ago
Comments
2020-09-21 Revised Forms Issued for COVID-19 Relief

2020-09-14 What is Not Part of a Signature

This week we look at: A California decisions discusses the concept of domicile for state residency status IRS publishes special per diem rates for FY 2020/2021, including high-low rates Medicaid coverage of COVID-19 testing and diagnostic services is not minimum essential coverage Tax Court looks at the effective date for a change in innocent spouse provisions An IP PIN ruled not to be part of the signature for an electronically filed tax returns Copypright 2020, Kaplan, Inc.

52 min1 w ago
Comments
2020-09-14 What is Not Part of a Signature

2020-09-07 Remember the SECURE Act

This week we look at: IRS loses in an attempt to challenge a contribution of closely held stock to charity Notice issued giving guidance on retirement plan changes enacted at the end of 2019 Second new version of Form 941 for 2020 released in draft form Minister discovers he won't qualify to be paid social security or Medicare coverage due to not understanding employment taxes and pastors IRS publishes web page on BBA Centralized Partnership Audit Regime Copyright 2020, Kaplan, Inc.

56 min2 w ago
Comments
2020-09-07 Remember the SECURE Act

2020-08-31 Excellent Guidance to Confirm Fears

This week we look at: Crowdsourcing platform payments made in convertible virtual current for performing microtasks is taxable income Payroll tax holiday guidance finally released by Treasury days before holiday is scheduled to begin IRS temporarily expands and simplifies use of e-signatures SBA issues new PPP guidance with de minimis owner rule and rules related to rents and mortgages as nonpayroll costs Copyright Kaplan, Inc.

54 min3 w ago
Comments
2020-08-31 Excellent Guidance to Confirm Fears

2020-08-24 The Week of the Two Letters

This week we look at: Qualified plan loan offset amount proposed regulations issued to deal with TCJA plan loan rollover provision US Chamber of Commerce and other organizations issue letter describing issues with payroll tax holiday Presidential memo IRS warns employees to wait to file Forms 941-X on second quarter 2020 941s until new form released in late September Chair of Ways & Means asks to IRS to pause sending notices that may relate to unopened payments and IRS complies two days later IRS begins accepting 2019 amended individual returns electronically Payments of interest on 2019 tax refunds are being paid out to taxpayers Copyright Kaplan, Inc.

46 minAUG 23
Comments
2020-08-24 The Week of the Two Letters

2020-08-10 Deferring Employee FICA - Forgiveness?

This week we look at: Summary of §163(j) final regulations SBA publishes PPP loan forgiveness FAQ IRS reminds employers of ability to establish leave sharing plans for employees to provide COVID-19 relief Proposed revenue procedure released to allow qualified residential living facilities to be §163(j) real estate businesses IRS updates qualified plan safe harbor distribution notices for SECURE Act and CARES Act changes President issues memorandum providing for deferral of employee OASDI, but leaves open issue of whether amounts will be forgiven Copyright 2020, Kaplan, Inc.

45 minAUG 9
Comments
2020-08-10 Deferring Employee FICA - Forgiveness?

2020-08-02 Rise of the Syndicates

This week we look at: IRS releases multiple regulation project texts on TCJA items No syndicate relief offered for tax shelters by the IRS for small business accounting or §163(j) Taxpayers informed how to deal with inventory issues when opting out of application of §471(a) Forms 3115 for automatic method changes to be faxed in beginning in August Copyright 2020, Kaplan, Inc.

60 minAUG 3
Comments
2020-08-02 Rise of the Syndicates

2020-07-27 Third Time to Court on Conservation Easement

This week we look at: Discussions continue on fourth COVID bill in the Senate SBA announces the agency will begin accepting lender's documents for PPP loan forgiveness on August 10 (maybe) IRS releases percentages for the premium tax credit for 2021 IRS position taken for strategic reasons in another conservation easement case doesn't bind the agency in a case with an unrelated taxpayer Second Circuit agrees with Tax Court that property was note used in a trade or business Copyright 2020, Kaplan, Inc.

47 minJUL 26
Comments
2020-07-27 Third Time to Court on Conservation Easement

2020-07-18 The Tax Court Deals with Debt Issues

This week we look at: IRS describes letters issued for Form 7200 when various issues arrive Loan was nonrecourse since lender did not take route that could have lead to deficiency judgment Debt failed to be qualified principal residence interest IRS proposes to add Schedules K-2 and K-3 for international partnership issues PTIN fees to return next year Copyright 2020, Kaplan, Inc.

43 minJUL 19
Comments
2020-07-18 The Tax Court Deals with Debt Issues

2020-07-12 BBA Audit Flowchart

This week we look at: W2s will report FFCRA sick and FMLA pay to each employee Congress extends PPP loan program through August 8, 2020 FAQ looks at the tax implications of receiving a CARES Provider Relief Payments Depreciation limits for vehicles for 2020 released by the IRS §265(a)(1) does not bar deduction under UBIT rules for a charity Flowchart for BBA CPAR audit regime published by the IRS Copyright 2020, Kaplan, Inc.

28 minJUL 13
Comments
2020-07-12 BBA Audit Flowchart

Latest Episodes

2020-09-21 Revised Forms Issued for COVID-19 Relief

This week we look at: IRS discusses options for expedited private letter ruling requests Web page for marijuana industry posted by the IRS Corporation by law had no shareholders, thus no S election was possible Draft form to be used by self-employed to claim COVID-19 sick pay credits published Final version of Form 941-X to be used to revised 2Q 2020 Forms 941 released Copyright 2020, Kaplan, Inc.

31 min1 d ago
Comments
2020-09-21 Revised Forms Issued for COVID-19 Relief

2020-09-14 What is Not Part of a Signature

This week we look at: A California decisions discusses the concept of domicile for state residency status IRS publishes special per diem rates for FY 2020/2021, including high-low rates Medicaid coverage of COVID-19 testing and diagnostic services is not minimum essential coverage Tax Court looks at the effective date for a change in innocent spouse provisions An IP PIN ruled not to be part of the signature for an electronically filed tax returns Copypright 2020, Kaplan, Inc.

52 min1 w ago
Comments
2020-09-14 What is Not Part of a Signature

2020-09-07 Remember the SECURE Act

This week we look at: IRS loses in an attempt to challenge a contribution of closely held stock to charity Notice issued giving guidance on retirement plan changes enacted at the end of 2019 Second new version of Form 941 for 2020 released in draft form Minister discovers he won't qualify to be paid social security or Medicare coverage due to not understanding employment taxes and pastors IRS publishes web page on BBA Centralized Partnership Audit Regime Copyright 2020, Kaplan, Inc.

56 min2 w ago
Comments
2020-09-07 Remember the SECURE Act

2020-08-31 Excellent Guidance to Confirm Fears

This week we look at: Crowdsourcing platform payments made in convertible virtual current for performing microtasks is taxable income Payroll tax holiday guidance finally released by Treasury days before holiday is scheduled to begin IRS temporarily expands and simplifies use of e-signatures SBA issues new PPP guidance with de minimis owner rule and rules related to rents and mortgages as nonpayroll costs Copyright Kaplan, Inc.

54 min3 w ago
Comments
2020-08-31 Excellent Guidance to Confirm Fears

2020-08-24 The Week of the Two Letters

This week we look at: Qualified plan loan offset amount proposed regulations issued to deal with TCJA plan loan rollover provision US Chamber of Commerce and other organizations issue letter describing issues with payroll tax holiday Presidential memo IRS warns employees to wait to file Forms 941-X on second quarter 2020 941s until new form released in late September Chair of Ways & Means asks to IRS to pause sending notices that may relate to unopened payments and IRS complies two days later IRS begins accepting 2019 amended individual returns electronically Payments of interest on 2019 tax refunds are being paid out to taxpayers Copyright Kaplan, Inc.

46 minAUG 23
Comments
2020-08-24 The Week of the Two Letters

2020-08-10 Deferring Employee FICA - Forgiveness?

This week we look at: Summary of §163(j) final regulations SBA publishes PPP loan forgiveness FAQ IRS reminds employers of ability to establish leave sharing plans for employees to provide COVID-19 relief Proposed revenue procedure released to allow qualified residential living facilities to be §163(j) real estate businesses IRS updates qualified plan safe harbor distribution notices for SECURE Act and CARES Act changes President issues memorandum providing for deferral of employee OASDI, but leaves open issue of whether amounts will be forgiven Copyright 2020, Kaplan, Inc.

45 minAUG 9
Comments
2020-08-10 Deferring Employee FICA - Forgiveness?

2020-08-02 Rise of the Syndicates

This week we look at: IRS releases multiple regulation project texts on TCJA items No syndicate relief offered for tax shelters by the IRS for small business accounting or §163(j) Taxpayers informed how to deal with inventory issues when opting out of application of §471(a) Forms 3115 for automatic method changes to be faxed in beginning in August Copyright 2020, Kaplan, Inc.

60 minAUG 3
Comments
2020-08-02 Rise of the Syndicates

2020-07-27 Third Time to Court on Conservation Easement

This week we look at: Discussions continue on fourth COVID bill in the Senate SBA announces the agency will begin accepting lender's documents for PPP loan forgiveness on August 10 (maybe) IRS releases percentages for the premium tax credit for 2021 IRS position taken for strategic reasons in another conservation easement case doesn't bind the agency in a case with an unrelated taxpayer Second Circuit agrees with Tax Court that property was note used in a trade or business Copyright 2020, Kaplan, Inc.

47 minJUL 26
Comments
2020-07-27 Third Time to Court on Conservation Easement

2020-07-18 The Tax Court Deals with Debt Issues

This week we look at: IRS describes letters issued for Form 7200 when various issues arrive Loan was nonrecourse since lender did not take route that could have lead to deficiency judgment Debt failed to be qualified principal residence interest IRS proposes to add Schedules K-2 and K-3 for international partnership issues PTIN fees to return next year Copyright 2020, Kaplan, Inc.

43 minJUL 19
Comments
2020-07-18 The Tax Court Deals with Debt Issues

2020-07-12 BBA Audit Flowchart

This week we look at: W2s will report FFCRA sick and FMLA pay to each employee Congress extends PPP loan program through August 8, 2020 FAQ looks at the tax implications of receiving a CARES Provider Relief Payments Depreciation limits for vehicles for 2020 released by the IRS §265(a)(1) does not bar deduction under UBIT rules for a charity Flowchart for BBA CPAR audit regime published by the IRS Copyright 2020, Kaplan, Inc.

28 minJUL 13
Comments
2020-07-12 BBA Audit Flowchart
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