23K
Downloads
366
Episodes
The FICPA podcast is to inform and educate our members & the CPA community with today’s hottest issues. Our mission is to serve our members, enhance their competency & professionalism, support professional standards, promote the value of our members & advocate on behalf of the CPA Profession.
Episodes
2 days ago
2 days ago
https://vimeo.com/947543909?share=copy
https://www.currentfederaltaxdevelopments.com/podcasts/2024/5/17/2024-05-20-erc-battles-continue
This week we look at:
- DOJ issues proposed rule that would remove cannabis businesses from loss of most business deductions under IRC §280E
- Filing date relief issued for those impacted by Ohio tornadoes from March
- IRS National Fraud Counsel speaks on ERC exams in ABA Tax Section webinar
- Tax adviser files suit to attempt to force the IRS to start processing ERC claims
- Tax Court imposes penalty for raising frivolous claims against taxpayer who argued wages are not income (among other things)
Tuesday May 14, 2024
Tuesday May 14, 2024
https://vimeo.com/945334377?share=copy
This week we look at:
- IRS gives update on final results for ERC voluntary compliance program and discusses the future
- The taxpayer’s contract did not make payment contingent on the success of research
- DOJ announces CPA firm barred from promoting CRAT/single premium annuity shelter
- IRS provides information on CAF “under review status” and changes to requesting transcripts
Monday May 06, 2024
Monday May 06, 2024
https://vimeo.com/943025614?share=copy
https://www.currentfederaltaxdevelopments.com/podcasts
This week we look at:
- IRS releases Fact Sheet on disaster provisions for retirement accounts added by SECURE 2.0 Act
- DC Circuit reverses Tax Court ruling that IRS does not have assessment authority for failure to file a report under IRC §6038(b) (Form 5471)
- Electric vehicle final regulations issued
- Department of Justice begins process to move marijuana from Schedule I to Schedule III which would cause §280E to no longer limit deductions for cannabis businesses
- Lack of any written records on time President/COO spent on activities or even estimate time spent on qualified research activities doomed attempt to claim a credit under IRC §41(a)
Monday Apr 29, 2024
Monday Apr 29, 2024
https://vimeo.com/940427506?share=copy
This week we look at:
- Final regulations issued on credit transfer provisions of the Inflation Reduction Act
- Tax Court rules the law does mandate a minimum level of attention by a supervisor when approving a proposed penalty
- IRS announces the end of the Direct File pilot and will announce the next steps shortly
Monday Apr 22, 2024
Monday Apr 22, 2024
https://vimeo.com/937007922?share=copy
This week we look at:
- IRS again waives penalties for certain RMD distributions for inherited IRAs and retirement plans, but indicates this should be the last time
- FinCEN adds more Q&As to BOI FAQ for the first time since January
Monday Apr 01, 2024
Monday Apr 01, 2024
https://vimeo.com/929341969?share=copy
This week we look at
- Tax Court reverses position on validity of a regulation it had upheld four years ago
- US Supreme Court hears oral arguments in case involving estate tax value of a corporation that received life insurance to redeem the majority shareholder’s estate
- IRS Criminal Investigation Divisions announces update on COVID relief related investigations and convictions
Monday Mar 25, 2024
Federal Tax Update: ERC Voluntary Disclosure Program Is Over - What Next
Monday Mar 25, 2024
Monday Mar 25, 2024
https://vimeo.com/926912400?share=copy
This week we look at:
- As ERC voluntary compliance program ended, IRS release discusses agency’s plans going forward
- Senate Finance Chair Wyden indicates there be a cloture vote in the Senate on House passed tax bill
- IRS issues proposed regulations to make SPA CRAT arrangements listed transactions
- IRS asks Supreme Court to overturn Culp decision
Monday Mar 18, 2024
Federal Tax Update: Last Call to Enter ERC Voluntary Disclosure Program
Monday Mar 18, 2024
Monday Mar 18, 2024
https://vimeo.com/924422473?share=copy
This week we look at:
- FinCEN gives formal notice of appeal of CTA BOI case
- Deadline rapidly approaching for entering first ERC voluntary disclosure program
- Arizona lawmakers write the IRS about tax status of 2023 state rebates
- Court of Appeals finds it is barred from hearing appeal of Tax Court dismissal of small case
Monday Mar 11, 2024
Federal Tax Update: FinCEN Announces Enforcement Reaction to Alabama Case
Monday Mar 11, 2024
Monday Mar 11, 2024
https://vimeo.com/921816386?share=copy
This week we look at:
- FinCEN announces position on handling BOI enforcement following National Small Business United v. Yellen
- IRS issues warning about companies peddling “doctor’s notes”
- Tax Court warns taxpayer about litigating an issue the taxpayer had previously litigated and lost on for a prior year
Monday Mar 04, 2024
Federal Tax Update: Court Questions Constitutionality of the CTA
Monday Mar 04, 2024
Monday Mar 04, 2024
https://vimeo.com/918946036?share=copy
This week we look at:
- CTA found to violate Constitution by US District Court
- Tax Court issues ruling on impact of SECURE 2.0 Act statute change on returns filed before December 29, 2022 effective date of the Act
- IRS warns about need to reconcile premium tax credit on Forms 1040 after seeing an increase in the number of returns being filed without the required reconciliation