2018-02-12 Changing the Rules During Tax Season
Current Federal Tax Developments for the week of February 12, 2018 - Change the Rules During Tax Season. Current Federal Tax Developments is brought to you by the state CPA societies and Kaplan Professional Education.
This week we look at the following items:
- The Bipartisan Budget Act of 2018 includes extenders and other items
- IRS updates priority guidance for TCJA items, adding 18 TCJA projects
- Special relief granted to those with pyrrhotite damage, allowing losses to be claimed on 2017 returns
- Qualified plan and IRA 2018 inflation adjusted figures will not have to change due to TCJA
- A journal entry did not create a shareholder debt, leading to a denial of multi-million dollar loss
- Engineer is potentially liable for penalties if positions on cost segregation study are not justified
The audio version of this week's program can be streamed or downloaded below:
A PDF containing articles on the items discussed can be downloaded via the link below: