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:

2018-05-14 Current Federal Tax Developments