Lynn Nichols Federal Tax Update (April 12, 2021): More Guidance on Employee Retention Credit, Among 8 Topics
Welcome to the Federal Tax Update Podcast, hosted by Lynn Nichols. This is presented as a member benefit by the South Carolina Association of CPAs. It is produced to provide current information about developments in U.S. tax law, such as cases, ruling, IRS pronouncements and expert comments on hot topics.
Trending in this edition:
More Guidance on Employee Retention Credit
Revised Practice Unit on when return position might be based on ‘reasonable cause’ and taxpayer acted ‘in good faith’
IRS guidance on calculation of gain or loss from partnership distributions
Reporting requirements on pandemic-related emergency financial aid provided to college students
Information about various IRS letters sent to taxpayers about their impact payments and/or rebate credits … is there action required?
FTC carryback and carryover instructions and how to apply ordering rules
Race car expenses not ‘necessary’ in home construction and remodeling business
IRS defines ‘restaurant’ for fully deductible business meal allowance
All commentary is brief, and you should not take a position on the items discussed until you thoroughly examine it with authoritative sources. The topics can be found discussed in further length at Tax Notes Today.
“I have relied on Tax Analysts® to provide reliable and timely analysis of Federal tax developments for over 30 years. The ‘headnotes’ you see here are from ‘Tax Notes Today,’ the preeminent source of accurate information and analysis of important developments and trends in Federal taxation,” Nichols says.
A federal tax specialist for 50 years, Lynn Nichols provides tax consulting services to CPA firms on complex federal income tax issues, professional standards in tax practice and effective tax practice management.
By Gregory|2021-04-20T17:54:13-04:00April 13th, 2021|COVID-19, Educate, Regulatory, Tax|Comments Off on Lynn Nichols Federal Tax Update (April 12, 2021): More Guidance on Employee Retention Credit, Among 8 Topics