This is the Current Federal Tax Developments for the week of November 21, 2016, brought to you by your state society of CPAs and Nichols Patrick, CPE.
This week we look at:
A taxpayer who thought limited records were needed for a 100% business used car
A religious organization denied exemption for coffee shop
MoneyGram really is a bank per Fifth Circuit
Taxpayer fails to show lack of tax avoidance in related Section 1031 exchange
IRS issues pair of delays - one for delivering Forms 1095-B and C for 2016 and another for reporting tuition paid, not billed, on Forms 1098-T for 2017
The audio version of this week's podcast can be downloaded below
A PDF of the articles for this week can be downloaded below.