Federal Tax Update: Rise of The Syndicates

https://vimeo.com/444036369

 

https://www.currentfederaltaxdevelopments.com/podcasts/2020/8/2/2020-08-03-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