Current Federal Tax Developments 2022

Slides (December 13 Session)

Slides (December 15 Update)

Example K-2/K-3 Forms

CFTD December Update Manual

Alternative Fuel Refueling Property Credit Materials

Spreadsheets for Examples from Session - Download the one for the day of your session

• Spreadsheet with Examples Outlined During the Day (December 2 Session Sheet)

• Spreadsheet with Examples Outlined During the Day (December 9 Session Sheet)

• Spreadsheet with Examples Outlined During the Day (December 13 Session - Arizona Society of CPAs/CalCPA Broadcast)

• Spreadsheet with Examples Outlined During the Day (December 20 Session)

Recent Developments

SECURE Act 2.0 Text - Part of the Consolidated Appropriations Act, 2023. SECURE 2.0 begins on page 2046.

Revenue Procedure 2023-8 - Text - Change of Accounting Method for Research and Experimental Expenditures

IRS Announces Plan to Release Proposed Regulations to Add Listed Transactions Whose Status Has Been Brought Into Question by Recent Court Decisions

Second Draft of Form 1065 Schedules K-2 and K-3 Instructions Revise Domestic Filing Exception

IRS Provides Relief Procedures for S Elections, Also Provides Will Not Issue Private Lettering Rulings Generally in Areas Covered by the Relief

IRS Delays Initial Effective Date of RMD Proposed Regulations, Grants Relief for Certain 2021 and 2022 Payments

IRS Grant of Refund Moots Case Attempting to Force a Court to Rule on Tax Status of Staking

Broad Beneficial Owner Reporting Requirements for Most Corporations and LLCs Come Into Effect in 2024

Taxpayer Not Qualifying for PPP Forgiveness That Applies for and Receives Forgiveness Must Pay Tax on the Forgiven Amount

AICPA Issues Proposed Revisions to Statements on Standards for Tax Services