This week we look at the rules involving the reconciliation process in Congress, the path that it appears most likely any tax bill enacted to deal with the expiration of many TCJA provisions at the end of 2025.

An audio version of this week’s broadcast can be streamed or downloaded below

The slides for this week’s broadcast can be downloaded from the week below.

2024-11-11 Current Federal Tax Developments

This week we look at:

• Retirement plan limits announced by the IRS, basically completing the tax inflation adjustments for 2025

• IRS emailed Chief Counsel Advice outlines dealing with SECA and the net investment income tax issues arising from a BBA partnership exam

An audio only version of this week’s broadcast can be streamed or downloaded below.

A PDF with copies of the slides and links to the authorities cited can be downloaded below:

2024-11-04 Current Federal Tax Developments

This week we look at:

• IRS releases inflation adjusted numbers for most items aside from retirement plans for 2023

• IRS has more bad news for those who fail to pay over trust fund taxes to pay other expenses

• Another US District Court denies a preliminary injunction to bar enforcement of the BOI reporting rules

You can stream or download an audio version of the broadcast below.

A PDF of the slides and documents can be downloaded as a PDF via the link below:

2024-10-28 Current Federal Tax Developments

This week we look at

S corporation finds multiple ways to terminate its S status, asks IRS forgiveness which is granted

• IRS rules condoms are medical expenses for tax purposes

• IRS adds items to list of preventive care an HDHP can pay without the insured having met the annual deductible

• PTIN registration opens for 2025

• Staking income challenge returns to court

An audio version of this week’s broadcast can be downloaded or streamed below

A copy of the slides and citations can be downloaded via the link below:

2024-10-21 Current Federal Tax Developments

This week we look at:

• Additional BOI clarifications from online discussions regarding a CPA firm’s reporting obligations and confusions about reporting by entities that don’t register with a state for formation but which do file tax returns

An audio only version of this week’s broadcast can be streamed below:

The slides and citations for this week’s broadcast can be downloaded as a PDF below.

2024-09-09 Current Federal Tax Developments

This week we look at:

• DOJ has scheduled a December 2 hearing on the proposed rule to reschedule marijuana

• BOI reporting confusions that keep coming up as questions in online discussions - time to review

An audio only version of this week’s broadcast can be streamed or downloaded below

A PDF with this week’s slides and citations can be downloaded below.

2024-09-03 Current Federal Tax Developments

This week we look at:

• IRS announces the reopening of the ERC Voluntary Disclosure Program on somewhat less generous terms then the first program provided

• National Taxpayer Adviser discusses issues related to ERC Notices of Disallowance issued by the IRS

An audio only version of this week’s update can be streamed or downloaded below

A PDF with slides and this week’s links to cited documents can be downloaded below.

2024-08-26 Current Federal Tax Developments

This week we look at

• Online scams and tax deductions - why how that online scammer you found on a dating site manages to take your money can make a big tax difference

• IRS announces next steps in ERC program, will begin sending some checks in September

An audio only version of this week’s session can be downloaded and streamed below:

A PDF with copies of the slides and citations can be downloaded below:

2024-08-12 Current Federal Tax Developments

This week we look at: 

• Tax bill fails to clear a procedural vote in the Senate, reducing the likelihood we’ll see the bill enacted before this Congress leaves office

• US District Court declines to issue preliminary injunction requiring the IRS to terminate the ERC claim moratorium, but finds much the court liked in the plaintiff’s arguments.

An audio version of this week’s broadcast can be streamed or downloaded below:

A PDF with this week’s slides and citations can be downloaded from the link below.

2024-08-05 Current Federal Tax Developments

This week we look at:

• FinCEN adds two more questions to BOI FAQ page

• IRS adds five new warning signs for problematic ERC claims and announces new developments coming in ERC enforcement

• Chief Counsel Memorandum outlines position on tax exempt organizations dealing with §52 provisions for ERC

An audio only broadcast can be streamed or downloaded below:

A copy of the sides and links to the cited documents can be downloaded as a PDF below:

2024-07-29 Current Federal Tax Developments

This week we look at:

• Taxpayer can’t simply rely on tax software when preparing their return, even if they aren’t being nominated for Secretary of Treasury

• IRS finalizes SECURE Act/SECURE 2.0 Act required minimum distributions regulations

• IRS proposed regulations address the problem of determining the applicable age for those born in 1959

An audio only version of this week’s broadcast can be downloaded or streamed below

A PDF with the citations for this week’s podcast can be downloaded below:

2024-07-22 Current Federal Tax Developments