Current Federal Tax Developments

Keeping CPAs Up to Date on Tax Matters

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Current Federal Tax Developments for the week of January 6, 2020: Beginning a New Decade Case from the Archive: Taxpayer Shows How to Win When the IRS Claims Your Business is a Hobby Taxpayers who have SFR prepared won't see a §199A deduction in the SFR 2020 auto mileage rates issued at the last minute Charitable contributions of virtual currency guidance issued by IRS in FAQ Taxpayers can't raise substance over form argument since the taxpayer picked the form Final Qualified Opportunity Fund regulations issued by the IRS IRS issues updated guidance on withholding on pensions

2020-01-06 Beginning a New Decade

January 04, 2020 by Ed Zollars, CPA

This week we look at:

  • Case from the Archive: Taxpayer Shows How to Win When the IRS Claims Your Business is a Hobby

  • Taxpayers who have SFR prepared won’t see a §199A deduction in the SFR 2020

  • Auto mileage rates issued at the last minute

  • Charitable contributions of virtual currency guidance issued by IRS in FAQ

  • Taxpayers can’t raise substance over form argument since the taxpayer picked the form

  • Final Qualified Opportunity Fund regulations issued by the IRS

  • IRS issues updated guidance on withholding on pensions

The articles on this week’s update can be downloaded in the PDF below:

2020-01-06 Current Federal Tax Developments

January 04, 2020 /Ed Zollars, CPA
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