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 | 3-19-2019

This week’s podcast focuses on the following items: Software glitches in the first years under TCJA Lump sum social security benefits are part of MAGI for the premium tax credit Safe harbor statements have to be signed and then attached to electronically filed returns as a PDF Taxpayer’s mistake in listing old address on tax […]

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Changes to Work-Related Deductions

There are often costs associated with doing your job, but which ones can you deduct on your tax returns? The Tax Cuts and Jobs Act made some changes to work-related deductions that you should know about as you prepare to finalize your 2018 tax return this year. Below, the AICPA provides a timely update and […]

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New Podcast | 3-12-2019

This week’s podcast focuses on the following items: Items causing confusion over §199A on discussion forums as returns are prepared Treasury announces changes in temporary regulations and subregulatory guidance Recipients of sexual harassment and sexual abuse settlements with confidentiality clause allowed to deduct legal fees Gambling loss triggered by impulse control problem side effect of […]

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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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Update—NC-3 e-Filing for Tax Year 2019

On February 19, 2019, NCACPA met with Department of Revenue leaders to discuss the Department’s responses to our proposed solutions for NC-3 e-filing. The Association could not have done this work without the help of members Barb Sarvis, Elizabeth Monday, Jack Harris, and Drew Edmundson—as well as the many members who shared input on Connect. […]

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New Podcast | 2-18-2019

This week’s podcast focuses on the following items: Fix for auto depreciation quirk added by TCJA released by IRS A subtrust qualified as a conduit trust for IRA distribution purposes AICPA asks for relief from the potential impact of syndicate rules on small business tax relief Form 1065 instructions add a requirement for certain partnerships […]

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Monitor “Returns Filed Per PTIN” for Suspicious Activity

Beginning the week of Feb. 25, 2019, the IRS is expanding the availability of “Returns Per PTIN” information in the PTIN system to all PTIN holders. Previously the information had been available only to PTIN holders with a professional credential or who participated in the Annual Filing Season Program. A minimum number of 50 returns […]

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