Current Federal Tax Developments for the week of May 14, 2018: Change in the Air. 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:
- Taxpayer had to include son’s savings account in determination of solvency
- 2019 HRA amounts announced by the IRS
- IRS changes Section 382 recognized built-in gain/loss safe harbors due to changes made by TCJA
- Revenue procedure issued to deal with requests to change accounting methods due to ASC 606 adoption for financial statements
- General automatic method change revenue procedure annual update published by IRS
- Taxpayer found to have no asset to sell and, due to that, income was ordinary and not capital in nature
An audio only version of the broadcast can be streamed/downloaded below.
The articles for this week's updates can be found in the PDF you can download below: