2021-11-18 Hurry Up and Wait for Tax Season
Play

This week we look at:

  • Amounts advanced by partner were a debt leading to income for other partners

  • Auto valuation COVID-19 relief for employers

  • Final qualified plan loan offset rules

  • Opening of electronic filing pushed back to February 12

  • IP-PIN program now open nationwide

An audio only version of this week’s update can be streamed or downloaded below

A PDF with articles for this week’s update can be downloaded below:

2021-11-18 Current Federal Tax Developments

Simply Tax
Simply Tax
Damien R. Martin, CPA
2021 Tax Filing Season Begins! #118
The American Institute of CPAs (AICPA) Tax Policy & Advocacy Team and volunteer members continually monitor and advocate on legislative, regulatory, and administrative tax matters. The team has been off to an active 2021, following a remarkably busy 2020. Guests Amy Wang and Alex Scott of the AICPA Tax Policy & Advocacy Team join host Damien Martin to share updates and provide insight into the current areas the team is closely watching and working in. Here’s what’s covered: * [03:20] Update on virtual currency-related tax issues and the AICPA comment letter on IRS virtual currency guidance (February 28, 2020) * [07:45] Insights on partnership tax basis capital reporting and the AICPA comment letter on Notice 2020-43 regarding tax capital reporting (September 15, 2020) * [16:07] Form 1065 instruction updates and the AICPA comment letter on the draft Form 1065 instructions (December 7, 2020) * [17:47] The latest on the Organisation for Economic Co-operation and Development (OECD) digital tax developments and AICPA advocacy efforts * AICPA policy paper: Taxation of the digitized economy(Revised May 2019) * AICPA comment letter on key elements essential to modification of the international tax system (May 2019) * AICPA comment letter on Pillar One and income allocations between jurisdictions (October 2019) * [22:33] Forms 5471 and 5472 penalty issues * [26:14] Section 163(j) guidance and AICPA advocacy efforts * AICPA comment letter on final and proposed regulations – pass-through issues (December 21, 2020) * AICPA comment letter on Section 163(j) international and exempt organization issues (December 21, 2020) * [36:20] Advice on the 2021 tax filing season Learn more about our guests and get additional resources here. GET MORE “SIMPLY TAX” We’re excited to also provide video content to strengthen your tax mind! Check it out on our YouTube channel. A complete archive of our episodes is available on our website and YouTube playlist. We’d love to hear from you! Email feedback and questions to SimplyTax@bkd.com. Connect with Damien on social media! LinkedIn | Twitter | Instagram | YouTube
43 min
18Forty Podcast
18Forty Podcast
18Forty
Rabbanit Rachelle Fraenkel: How Can God be Found After Trauma? [God 3/3]
In this episode of the 18Forty Podcast, we sit down with Rabbanit Rachelle Fraenkel—speaker, educator, and yoetzet halacha— about the effects of tragedy on emunah. In 2014, Rabbanit Rachelle Fraenkel’s son Naftali was kidnapped and murdered in a tragic terror attack. The week before the world learned of his fate was sad but hopeful, leaving many feeling crushed by the outcome. Despite this impossible situation, Rachelle was lauded as displaying emunah, faith, in Hashem, remaining optimistic but devoid of expectation. -How did or didn’t Rachelle’s tragedy impact her emunah in God? -What expectations can people have of God when they pray? -What expectations can people not have of themselves when they pray? -What should our relationship with God be during difficult times? -And how should we console those who are themselves going through difficult times? Tune in to hear Rachelle talk about emunah in the face of tragedy, and how one can blend optimism and realism. References: Yosl Rakover Talks to God by Zvi Kolitz The Blessing of a Broken Heart by Sherri Mandell Scholarly Mentions: Emmanuel Levinas For more, visit https://18forty.org/topics/god. Rabbanit Rachelle Fraenkel is a teacher of Torah at Nishmat and the director of Matan’s Hilchata Institute. After her son Naftali was kidnapped and killed along with Gilad Sha’er and Eyal Yifrah in 2014, Rachelle became an international speaker and teacher. Rachelle speaks from the sharpest edges of human experience and her words are marked by a deep wisdom. Listen to Rachelle to hear from a profoundly learned and experienced teacher of Torah and life.
1 hr 23 min
Mostly Money
Mostly Money
Preet Banerjee
90: We need to talk a lot more about not dying with Dr. Daren Heyland
There is a BIG difference between End Of Life Planning and Serious Illness Planning. If you think estate planning is getting your wills and powers of attorney or healthcare directives set up for taking care of things when you die or are about to die, you might be making a big mistake. If you end up in an ER, the doctors aren't going to look at any end of life planning you might have in place if they think they can still save your life. This requires a whole different way of thinking about planning for serious medical illnesses. On the show today I speak with critical care physician, Dr. Daren Heyland, who is going to give us a look behind the scenes at what really happens when people and their loved ones are making decisions about their medical care when they are seriously ill, or terminal. We’ve talked a bit about estate planning on the podcast before, and my guest recently attended a financial planning seminar where the positioning of how and when certain parts of an estate plan come into place could have used some fine tuning.  He’s also going to discuss an initiative he’s been spearheading, called the Plan Well Guide, *Plan Well Guide is a FREE tool to help people learn about medical treatments and prepare them for decision-making during a serious illness, like COVID-19 pneumonia for example. *  Find out more here: Company: https://planwellguide.com/ Twitter: https://twitter.com/darenheyland Facebook: @planwellguide Twitter: @plan_well_guide Instagram: @plan_well_guide LinkedIn: https://www.linkedin.com/in/daren-heyland-2b674a185/   *Guest Bio:*  Dr. Daren Heyland is a critical care doctor at Kingston General Hospital and a Professor of Medicine and Epidemiology at Queen’s University. He currently serves as the Director of the Clinical Evaluation Research Unit (CERU) at the Kingston General Hospital.  For over a decade he chaired the Canadian Researchers at the End of Life Network (CARENET), which has a focus on developing and evaluating strategies to improve communication and decision-making at the end of life
48 min
Search
Clear search
Close search
Google apps
Main menu