Federal Tax Update: The Sound of Silence

https://vimeo.com/379496947

https://www.currentfederaltaxdevelopments.com/podcasts/2019/12/14/2019-12-16-the-sound-of-silence

 

This week we look at:

• IRS does not have the discretion to waive repayment of advance premium credit
• Employer who reimburses employee when transit card fails to function has to include amount in wages per CCA
• IRS issues more proposed regulations on state tax issues and charitable contributions, but remains silent on passthrough tax issues
• IRS grants relief from use of tax basis capital account on partnership K-1s for one year