This week’s podcast covers the following developments:
- FBAR penalty limited to lower amount in old regulation
- Taxpayer had not started a business yet, so no current deduction allowed for expenses incurred
- IRS to issue regulations on SALT/charity workarounds, raises substance over form issue
- DC Circuit agrees with Ninth Circuit that partnerships with disregarded entity partners are subject to TEFRA (and presumably subject to CPAR) audits
You can listen to the podcast here, view the video version here, and read the corresponding notes here.
To stay current on federal tax updates, visit our podcasts page, where we upload a new episode each week.