This is Current Federal Tax Developments for the week of August 8, 2016 - The IRS Strikes Back. Current Federal Tax Developments is brought to you by the state CPA societies and Nichols Patrick CPE, Incorporated.
This week we’ll look at the following:
- AICPA has its turn to lose in court over IRS voluntary preparer licensing program
- An accountant losing his job didn’t cost him a deduction for an MBA degree
- IRS throws in the towel regarding home mortgage interest deductions for unmarried couples
- While a bankruptcy estate owned income taxes on income that was part of the estate, the debtor had to pay the self-employment tax
- The IRS attempts to bring the §2704 hammer back from the ashes
- The IRS decides to kick the can down the road on the new partnership audit rules by allowing an early “opt-in” decision to be made only after the notice of exam
The audio for the update can be streamed or downloaded below.
You can download a PDF with the articles for this week from the link below.