New Podcast | 3-25-2019

This week’s podcast focuses on the following items: QBI and disallowed passive losses Minister’s housing allowance ruled to be acceptable under the U.S. Constitution Pilot had no profit motive for business related to vintage World War II aircraft IRS suspends two Revenue Rulings related to active trade or business issues under §355 Relief from underpayment […]

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New Podcast | 3-7-2019

This week’s podcast focuses on the following items: Tax Refunds and the 2019 Tax Returns A look at the special rules under §111 for tax benefit and how it impacts state tax refunds from 2018 returns No Fifth Amendment defense against assertion that taxpayer is trafficking under §280E IRS grants extension of time to file […]

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New Podcast | 2-25-2019

This week’s podcast focuses on the following items: State found to illegally discriminate against federal law enforcement retirees due to tax break for state law enforcement retirees IRS decides expanded availability of meal delivery means fewer meals are truly for the convenience of the employer IRS acquiesces in case regarding meals for hockey teams Politico […]

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NCDOR Warns of Scams Targeting Taxpayers

Agency Offers Guidance to Help Combat Identity Theft and Fraud RALEIGH –The North Carolina Department of Revenue (NCDOR) today issued a warning to taxpayers to be aware of criminals fraudulently posing as tax agents to collect fake payments. Over the past few years, the NCDOR has received increasing reports of taxpayers being contacted via phone […]

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New Podcast | 2-11-2019

This week’s podcast focuses on the following items: Situations where an employer can recover HSA funds from employee accounts IRS decides taxpayers can use Rev. Proc. 2018-60 even if currently using an impermissible method of accounting Taxpayer reasonably relied on CPA’s advice and escapes penalties Airline passenger discovers he can’t sue the TSA for his […]

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Taxpayers Need More Penalty Relief Says AICPA in Letter to IRS

When the Tax Cuts and Jobs Act (TCJA) was passed in late 2017, it affected millions of individual taxpayers and tax preparers. As part of its implementation, the IRS adjusted its withholding tables. However, the adjusted withholding tables did not account for factors such as the elimination of personal and dependency exemptions or reduced itemized […]

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IRS Employees Taking Hardship Exemptions During Shutdown

Internal Revenue Service employees who have been called back to work without pay during the partial government shutdown are increasingly taking advantage of a benefit known as a “hardship exemption,” which could delay tax refunds during tax season despite actions by the Trump administration. Last week, the Treasury Department released a revised contingency plan for the government […]

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