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.
The commentary is brief, and you should not take a position on the items discussed until you thoroughly examine it with authoritative sources. All topics can be found discussed in further length at Tax Notes Today.
Topics in this installment include:
- Final regulations on State and Local Tax Deduction Limit
- Bad Debt Deduction Denied
- “Set-Aside” Approval Allows Accumulation for private foundations
- No one likes Proposed Tax Capital Reporting by Partnerships
- Modified Outside Basis Method
- Modified Previously Taxed Capital Method
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. Check out his Tax Updates video playlist.
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