Channel: Ed Zollars' Tax Update Podcast 


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Ed Zollars Tax Update
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Website: http://edzollarstaxupdate.com
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Available Episodes (168)
After a bit of a break while I was out speaking in the past couple of weeks in Nevada, California, Ohio and Virginia we return to a Thanksgiving Day podcast dealing with self-employment...
Published: Thursday, 27 November 2008 17:00:00
Duration: 00:12:51
Size: 14.14 MB
Link
The podcast this week is based on a presentation I made Thursday at the Arizona Tax Institute on the current state of Section 6694. The session was scheduled back a few months ago,
Published: Sunday, 09 November 2008 14:08:00
Duration: 00:12:23
Size: 13.62 MB
Link
We continue with issues related to S Corporation debt and the many ways to end up not being able to use debts to deduct losses flowing through. This week we look at the Tax Court's
Published: Sunday, 02 November 2008 03:31:00
Duration: 00:11:57
Size: 13.15 MB
Link
The IRS has issued final regulations on S Corporation open account debt that will change the way that many clients have to deal with their loans to the corporation. These changes are...
Published: Tuesday, 28 October 2008 22:34:00
Duration: 00:11:05
Size: 12.2 MB
Link
Another taxpayer found out well after filing his return with less than stellar results from his trading activities that there had been an option to file an election under Â475(f) to...
Published: Sunday, 28 September 2008 12:54:00
Duration: 00:09:46
Size: 10.76 MB
Link
This is a travel podcast of sorts this week--the materials were prepared on a Southwest Airlines 737 flying from Phoenix to Baltimore, and recorded in the Hotel Roanoke in Roanoke,
Published: Sunday, 21 September 2008 16:57:00
Duration: 00:10:49
Size: 11.91 MB
Link
We look this week at a difference in application of IRC Â162(k) between the Ninth Circuit Court of Appeals and the United States Tax Court given the Tax Court's decision in Ralston
Published: Monday, 15 September 2008 14:52:00
Duration: 00:12:17
Size: 13.52 MB
Link
The Ninth Circuit Court of Appeals this week affirmed the Tax Court's decision in the case of Johanson and Melzig v. Commissioner, TC Memo 2006-105 involving alimony. In its original...
Published: Sunday, 07 September 2008 20:16:00
Duration: 00:11:07
Size: 12.24 MB
Link
Accounting issues we often run into involve the differences between tax and GAAP treatment of items, and this week we look at one such case involving the time for recognizing an expense....
Published: Sunday, 31 August 2008 22:34:00
Duration: 00:10:22
Size: 11.41 MB
Link
We review the requirements found in the regulations for obtaining the required support for a tax position, concentrating on the methods outlined in Reg. Â1.6662-4(d) in the definition...
Published: Monday, 25 August 2008 12:53:00
Duration: 00:24:13
Size: 26.65 MB
Link
This week we look at the Recent United States Court of Federal Claims decision in Fisher, Trustee v. United States, 2008 TNT 154-7 where the court sided with the taxpayer and held
Published: Sunday, 17 August 2008 19:42:00
Duration: 00:16:20
Size: 17.97 MB
Link
The IRS issued new proposed regulations to explain the reduction of the NOL substitute in an S corporation setting when cancellation of debt is excluded from the S corporation's income...
Published: Sunday, 10 August 2008 14:11:00
Duration: 00:15:58
Size: 17.57 MB
Link
This podcast is the sequel to a November 2006 podcast on the same case--that of Kadillak v. Commissioner where an individual who was caught by the dot bomb crash of the technology stock...
Published: Sunday, 03 August 2008 13:05:00
Duration: 00:11:48
Size: 12.98 MB
Link
In a special podcast, we look at the just passed American Home Rescue and Foreclosure Prevention Act of 2008, taking a detailed look at a few tax provisions in that bill of interest....
Published: Sunday, 27 July 2008 22:29:00
Duration: 00:21:39
Size: 23.82 MB
Link
In the past year we've talked a lot about the preparer standards and tax return positions. This week, in the case of Wadsworth v. Commissioner, TC Memo 2008-171, we see a real world...
Published: Sunday, 27 July 2008 13:17:00
Duration: 00:11:41
Size: 12.86 MB
Link
I gave a presentation at the offices of the Arizona Society of CPAs on the use of virtual machines to deal with the transition from Windows XP to Vista in a tax practice. This podcast...
Published: Monday, 21 July 2008 01:00:00
Duration: 00:27:52
Size: 30.66 MB
Link
The IRS issued new temporary regulations that deal with start-up and corporate and partnership organization costs. Interestingly enough, the new regulations now create an automatic
Published: Sunday, 13 July 2008 23:11:00
Duration: 00:15:09
Size: 16.68 MB
Link
The IRS this week issued some relatively unsurprising guidance on the treatment of life insurance and an S corporation's accumulated adjustments account, so this week we'll look at
Published: Sunday, 06 July 2008 23:06:00
Duration: 00:14:56
Size: 16.44 MB
Link
The IRS has issued new guidance in the form of a series of questions and answers related to Health Savings Account in Notice 2008-59. This podcast goes over the various items covered...
Published: Sunday, 29 June 2008 14:48:00
Duration: 00:23:28
Size: 25.83 MB
Link
This is part two of a series of two podcasts on the proposed regulations for preparer penalties released recently. .The materials are at http://edzollars.com/2008-06-23_Penalty.pdf
Published: Thursday, 26 June 2008 13:32:00
Duration: 00:23:17
Size: 25.62 MB
Link
This is the first of what will be a series of two podcasts on the proposed regulations for preparer penalties released here recently. Considering the length of the regulations and podcast,...
Published: Monday, 23 June 2008 02:49:00
Duration: 00:26:39
Size: 29.32 MB
Link
Securing our client's data is the responsibility of all of those in tax practice. This past week I gave a presentation at the Arizona Society of CPA's Financial Planning Conference
Published: Sunday, 15 June 2008 14:43:00
Duration: 00:26:29
Size: 29.14 MB
Link
This week we look at the step transaction doctrine and where the line is drawn when we deal with the application of the step transaction doctrine in the formation of a family limited...
Published: Sunday, 08 June 2008 13:53:00
Duration: 00:11:49
Size: 13.0 MB
Link
This week we look at a Court of Claims case that deals with an IRS examination and the imposition of the fraud penalty--a penalty the Court of Claims found was not justified. The case...
Published: Friday, 30 May 2008 14:22:00
Duration: 00:23:47
Size: 26.16 MB
Link
Simplified employee pensions (SEPs) are a popular retirement plan for extremely small businesses, with one of the key attractions being that don't require many of the formalities of...
Published: Saturday, 24 May 2008 13:36:00
Duration: 00:12:43
Size: 14.01 MB
Link
The Fifth Circuit came down with a ruling in Kornman Associates, Inc. v. United States on whether a taxpayer who set up a Son of BOSS style shelter would get the benefit that was expected--and...
Published: Saturday, 17 May 2008 14:45:00
Duration: 00:16:27
Size: 18.11 MB
Link
Since we've discussed mailing returns in previous podcasts, this time we look at the problems a taxpayer who tries to hand file a return can run into getting that done correctly. In...
Published: Saturday, 10 May 2008 22:19:00
Duration: 00:10:56
Size: 12.03 MB
Link
Partnership taxation is one of those areas where things may not work exactly as many practitioners expect, and those unexpected workings are things that tax shelter promoters have attempted...
Published: Sunday, 04 May 2008 21:38:00
Duration: 00:12:01
Size: 13.22 MB
Link
This week we follow the continuing saga of the self-employment tax and qualified joint venture that we've been following since the early part of this year. This week we analyze CCA
Published: Monday, 28 April 2008 13:07:00
Duration: 00:11:04
Size: 12.18 MB
Link
The issue of whether Â7502(c) provides the exclusive means to prove timely filing of a document by a taxpayer is addressed yet again by the courts--and what the Third Circuit had to...
Published: Sunday, 20 April 2008 20:00:00
Duration: 00:11:28
Size: 12.62 MB
Link
After a hiatus at the end of tax season, we return with a new show dealing with an issue of whether a payment to a person was compensation income or a gift. The case in question is
Published: Wednesday, 16 April 2008 17:41:00
Duration: 00:12:05
Size: 13.3 MB
Link
The self-employment tax is our topic for this week, specifically dealing with two topics. We revisit an issue last visited in the early days of the podcast (back in June 2005) of the...
Published: Saturday, 22 March 2008 23:28:00
Duration: 00:18:38
Size: 20.51 MB
Link
The question of whether a problem on a return was an error or a method of accounting is important, as we'll discuss this week looking at the Sixth Circuit's ruling in the case of Huffman...
Published: Sunday, 16 March 2008 14:41:00
Duration: 00:09:36
Size: 10.58 MB
Link
This week we look at the Tax Court's second pass at the case of Hubert v. Commissioner, TC Memo 2008-46, a case that sent back to the Tax Court by the Sixth Circuit Court of Appeals...
Published: Sunday, 09 March 2008 14:04:00
Duration: 00:09:15
Size: 10.18 MB
Link
The IRS has issued a safe harbor treatment for Â1031 exchanges involving property that previously had or subsequently has personal use. Revenue Procedure 2008-16 outlines the tests
Published: Sunday, 02 March 2008 23:01:00
Duration: 00:10:53
Size: 11.97 MB
Link
We revisit the issue of what exactly is timely filing, revisiting an issue last covered in a podcast back in October of 2005. This time we look at the Tenth Circuit's opinion in the...
Published: Sunday, 24 February 2008 14:09:00
Duration: 00:09:28
Size: 10.43 MB
Link
This podcast was originally recorded to go up last week, but the new tax bill displaced it so a week late we'll look at something that might have escaped your notice in the tax bill...
Published: Sunday, 17 February 2008 13:40:00
Duration: 00:14:14
Size: 15.67 MB
Link
Congress passed the Economic Stimulus Package of 2008 this week that makes a few, but significant, tax law changes for 2008. This podcast talks about what Congress did and what we need...
Published: Saturday, 09 February 2008 14:44:00
Duration: 00:11:49
Size: 13.0 MB
Link
A listener who was following along in some discussions on the Arizona Society of CPAs sent me an email suggesting that perhaps it might be useful to look at the issues involved with...
Published: Monday, 04 February 2008 09:00:00
Duration: 00:19:18
Size: 21.24 MB
Link
The issue of what is a capital asset is looked at in the Ninth Circuit's decision in Trantina v. United States, 2008 TNT 7-8. In this case, an insurance agent was arguing that payments...
Published: Sunday, 27 January 2008 12:23:00
Duration: 00:10:19
Size: 11.35 MB
Link
This week we look at Revenue Procedure 2008-12 and final regulations under Â7216, both of which deal with taxpayer authorizations for the use or disclosure of tax return information...
Published: Monday, 21 January 2008 09:00:00
Duration: 00:18:30
Size: 20.36 MB
Link
The Supreme Court today decided the issue of whether investment fees paid by a trust was subject to the 2% of adjusted gross income limitation. The Supreme Court in Knight v. Commissioner...
Published: Thursday, 17 January 2008 02:21:00
Duration: 00:11:46
Size: 12.95 MB
Link
We look at a case where the IRS failed in an attempt to argue that a transaction had no economic substance or otherwise failed under the anti-abuse partnership regulations. The case...
Published: Monday, 14 January 2008 09:00:00
Duration: 00:14:31
Size: 15.98 MB
Link
We look at a case that illustrates the application of Section 108 in a situation with recourse debt. While this case would likely have been covered by the relief in the Mortgage Foregiveness...
Published: Monday, 07 January 2008 09:00:00
Duration: 00:10:55
Size: 12.03 MB
Link
The IRS celebrated the end of 2007 by releasing three Notices late on December 31 that provide guidance on the application of the revised preparer penalties contained in the Small Business...
Published: Tuesday, 01 January 2008 14:01:00
Duration: 00:14:26
Size: 15.89 MB
Link
In this podcast, we look at a case where a shareholder attempted to argue that, in fact, the S corporation's election had been terminated a decade before due to an agreement with the...
Published: Monday, 31 December 2007 07:00:00
Duration: 00:11:50
Size: 13.02 MB
Link
In this podcast we look at highlights of three of the five bills affecting taxation that Congress passed prior to leaving town, specifically the Tax Increase Prevention Act of 2007,...
Published: Thursday, 27 December 2007 23:56:00
Duration: 00:11:41
Size: 12.87 MB
Link
In a recent Tax Court decision on the home sale exclusion under Section 121, the IRS and the taxpayers split the decision--the IRS lost in its attempt to claim the taxpayer did not
Published: Wednesday, 26 December 2007 09:00:00
Duration: 00:16:24
Size: 18.05 MB
Link
The IRS has issued Notice 2008-1 that details how an S corporation shareholder can qualify for the self-employed health insurance deduction under Â162(l) even if the policy is in the...
Published: Monday, 24 December 2007 15:35:00
Duration: 00:09:00
Size: 9.9 MB
Link
After a not so short hiatus, the Tax Update podcast is again posted, this time looking at IRS Revenue Ruling 2008-5 that deals with issue of a taxpayer selling securities at a loss
Published: Saturday, 22 December 2007 14:07:00
Duration: 00:12:27
Size: 13.7 MB
Link
Two days, two revisions: the IRS on September 25 issued proposed regulations to revise Circular 230 Â10.34, and the next day finalized regulations that also made changes to the same...
Published: Wednesday, 26 September 2007 21:53:00
Duration: 00:13:50
Size: 15.23 MB
Link
The IRS released a Chief Counsel Advice (CCA 200734021) that dealt with how to interpret the language found in Section 121(d)(5) that, in certain cases, will allow a taxpayer to treat...
Published: Friday, 31 August 2007 12:44:00
Duration: 00:09:31
Size: 10.48 MB
Link
The Second Circuit Court of Appeals decided that the Tax Court had been too quick to dismiss a penalty under Â6662 in the Estate of Thompson, decided last week, but that the Court was...
Published: Sunday, 26 August 2007 13:27:00
Duration: 00:14:13
Size: 15.64 MB
Link
We once again revisit the Cohan rule, but this time in the context of a much larger taxpayer than we normally look at, in the case of Tyson Foods, Inc and Subsidiaries vs. Commissioner,...
Published: Friday, 20 July 2007 23:18:00
Duration: 00:10:23
Size: 11.43 MB
Link
Equitable ownership of a home can grant a taxpayer a deduction for mortgage interest and taxes even when the taxpayer is not the legal owner. While the taxpayer in the case of Nair
Published: Saturday, 14 July 2007 15:36:00
Duration: 00:10:36
Size: 11.67 MB
Link
We finish up the look at Â6662, this time looking at the substantial understatement penalty, as well as the exceptions to this penalty. The material for this week's podcast can be...
Published: Monday, 09 July 2007 01:18:00
Duration: 00:17:25
Size: 19.18 MB
Link
For Independence Day we take a look at a new set of standards released by the American Institute of CPAs' Consulting Services Executive Committee that will take effect for engagements...
Published: Wednesday, 04 July 2007 13:23:00
Duration: 00:23:10
Size: 25.5 MB
Link
Given that in both the changes to Circular 230 paragraph 10.35 back in 2005 and the recent revisions to Section 6694, it seems appropriate to review the penalties that can be imposed...
Published: Saturday, 30 June 2007 15:41:00
Duration: 00:23:33
Size: 25.92 MB
Link
This week we look at recent cases where the IRS lost a statute of limations case. In the case of Bakersfield Energy Partners, LP, 128 TC No. 17, the question was whether an overstatement...
Published: Thursday, 21 June 2007 13:02:00
Duration: 00:09:15
Size: 10.18 MB
Link
The IRS this past week issued Notice 2007-54 which grants partial relief from some of the changes made to the preparer penalties under Section 6694(a), delaying full implementation
Published: Sunday, 17 June 2007 13:52:00
Duration: 00:02:38
Size: 2.91 MB
Link
We further analyze the new law, this time looking in detail at the preparer penalty provisions and the change in the trigger for where the preparer penalty under Section 6694(a).The...
Published: Friday, 01 June 2007 23:15:00
Duration: 00:15:44
Size: 17.31 MB
Link
Kaye Thomas emailed me with an observation regarding one issue in the new law. It turns out that though prior drafts of the bill and the Joint Committee's report on the bill indicated...
Published: Tuesday, 29 May 2007 13:20:00
Duration: 00:00:55
Size: 1.02 MB
Link
The new Congress has passed its first major tax bill with changes that are meant to grant relief to small businesses, but which also have revenue raisers that will impact a number of...
Published: Saturday, 26 May 2007 00:47:00
Duration: 00:14:39
Size: 16.12 MB
Link
We look at the recent case of Pediatric Affililates, P.A., (2007-1 USTC Â50,477) where the Third Circuit Court of Appeals upheld the U.S. District Court of New Jersey's determination...
Published: Friday, 18 May 2007 18:06:00
Duration: 00:11:50
Size: 13.03 MB
Link
This week we look at Proposed Regulations under Section 152 to clarify the treatment of divorced parents, regulations that would both serve to document what has developed under the
Published: Wednesday, 09 May 2007 00:15:00
Duration: 00:15:31
Size: 17.08 MB
Link
A taxpayer without a regular place of business can still obtain a deduction for travel away from home if the taxpayer can establish that he/she has a home. In two cases (Jason Ayala...
Published: Friday, 27 April 2007 23:08:00
Duration: 00:09:51
Size: 10.84 MB
Link
The IRS on April 23 released guidance on the application of monetary penalties to practitioners, their employers, firms and related entities for violations of Circular 230 as authorized...
Published: Tuesday, 24 April 2007 13:18:00
Duration: 00:17:17
Size: 19.02 MB
Link
When Section 6501(c) refers to a false and fraudulent return, does the IRS need to show that the taxpayer was involved in the fraud to get the benefit of the unlimited statute of limitations...
Published: Saturday, 10 March 2007 14:06:00
Duration: 00:09:53
Size: 10.88 MB
Link
The IRS has again issued guidance indicating their displeasure with a marketed shelter that promises benefits via the literal application of partnership provisions in the IRC. In CCA...
Published: Sunday, 25 February 2007 01:46:00
Duration: 00:14:33
Size: 16.02 MB
Link
Congress doesn't necessarily make the law work as consistently as practitioners want it to work. This week we look at four different provisions in the Internal Revenue Code and their...
Published: Sunday, 18 February 2007 02:20:00
Duration: 00:15:43
Size: 17.29 MB
Link
Back in February of 2006, I did a podcast on medical reimbursement plans and went over the Speltz case where the taxpayer prevailed in a medical reimbursement plan provided for her
Published: Saturday, 10 February 2007 13:59:00
Duration: 00:20:53
Size: 22.97 MB
Link
Congress passed a number of incentives in the Tax Relief and Health Care Act of 2006 meant to make Health Savings Accounts (or HSAs) more attractive to taxpayers. We'll take a look
Published: Saturday, 03 February 2007 00:29:00
Duration: 00:11:11
Size: 12.31 MB
Link
We look at the case of a traveler who got bitten when she attempted to make use of the hotel to get a package picked up by a private delivery service-a package that happened to contain...
Published: Saturday, 27 January 2007 17:38:00
Duration: 00:12:24
Size: 13.64 MB
Link
This week we look at an IRS memorandum that argues against the position taken by a taxpayer arguing that his transaction literally complies with Section 731 and 732. The IRS argued
Published: Saturday, 20 January 2007 02:43:00
Duration: 00:14:14
Size: 15.66 MB
Link
The IRS has issued Notice 2007-7 that explains the distribution provisions in the Pension Protection Act of 2006. In the podcast, we look at some of he provisions contained in this
Published: Saturday, 13 January 2007 15:13:00
Duration: 00:15:19
Size: 16.86 MB
Link
Sometimes life just doesn't seem fair. Like when you exercise stock options from your former employer, and the stock price drops 20% from the date you told your employer to exercise...
Published: Saturday, 06 January 2007 23:42:00
Duration: 00:11:41
Size: 12.87 MB
Link
The mark to market election under Section 475(f) can have a major impact for individuals that were unsuccessful in their attempt to become a day trader-which turns out to be the majority...
Published: Saturday, 30 December 2006 21:12:00
Duration: 00:14:07
Size: 15.53 MB
Link
This week the IRS decided to send a warning to accrual basis taxpayers that the IRS has some very specific ideas on the proper application of the recurring item exception. We look at...
Published: Sunday, 24 December 2006 03:57:00
Duration: 00:14:56
Size: 16.44 MB
Link
Congress got around to passing the extenders in the Tax Relief and Health Care Act of 2006 early on Saturday morning, which picked up a number of the items that expired at the end of...
Published: Saturday, 09 December 2006 16:55:00
Duration: 00:11:17
Size: 12.42 MB
Link
The issue of whether an individual is or isn't considered an active participant in a retirement plan can be complex, as the taxpayer found out in the case of Colombell v. Commissioner,...
Published: Saturday, 02 December 2006 19:57:00
Duration: 00:14:27
Size: 15.91 MB
Link
Given that the IRS and courts had a short week, we look back this week at a ruling from a few weeks back, as well as a related ruling from a year ago, that deal with the accountable...
Published: Saturday, 25 November 2006 16:32:00
Duration: 00:09:38
Size: 10.6 MB
Link
The IRS has released a simplified method that businesses can elect to use to compute the amount of their refund for the federal long distance excise tax that the IRS finally agreed
Published: Friday, 17 November 2006 19:07:00
Duration: 00:13:06
Size: 14.42 MB
Link
83(b) elections were all the rage, especially for those with stock options during the dot com bubble--and now many of those individuals regret the election. This week the Tax Court
Published: Saturday, 11 November 2006 13:50:00
Duration: 00:14:54
Size: 16.4 MB
Link
The podcast this week deals with the case of Estate of Landers, TC Memo 2006-230, where an estate's co-administrator attempted to seek a finding that there was reasonable cause for
Published: Saturday, 04 November 2006 01:00:00
Duration: 00:09:34
Size: 10.53 MB
Link
The Tax Court this week reasserted its previously stated position on the treatment of the GST grandfathering provision for trusts in existence on September 25, 1985 when a party holds...
Published: Friday, 27 October 2006 13:05:00
Duration: 00:09:33
Size: 10.51 MB
Link
The IRS has proposed regulations that will radically change the taxation of private annuities, making Revenue Ruling 69-74 obsolete as of October 18. We discuss the new treatment the...
Published: Saturday, 21 October 2006 00:00:00
Duration: 00:13:00
Size: 14.31 MB
Link
In a relatively slow tax news week, the Tax Court issued yet another published opinion dealing with the coordination of the capital loss rules of Â1211 and the alternative minimum tax....
Published: Saturday, 14 October 2006 01:01:00
Duration: 00:10:15
Size: 11.29 MB
Link
This podcast covers a number of recent tax developments, including dealing with the burning issue of whether a preparer must sign the client's copy of the return, a recent case involving...
Published: Saturday, 07 October 2006 01:43:00
Duration: 00:12:23
Size: 13.64 MB
Link
The issue of whether a service provider is properly treated as a contractor or employee is an important issue for many small businesses. In the case of Orion Contracting Trust v. Commissioner,...
Published: Saturday, 30 September 2006 00:45:00
Duration: 00:11:43
Size: 12.9 MB
Link
The documentation rules for charitable contributions can create situations where taxpayers lose the right to claim a deduction even though they made it and, by the time they get to
Published: Thursday, 21 September 2006 11:58:00
Duration: 00:10:03
Size: 11.07 MB
Link
We look at a case involving the statute of limitations and the issue of reliance on IRS advice. In the case of A. L. Katz J. L. Miller v. United States the United States Court of Claims...
Published: Saturday, 16 September 2006 00:57:00
Duration: 00:08:25
Size: 9.28 MB
Link
Securing data has become a key issue for professionals, given recent high profile thefts of computers and drives containing sensitive client information. This week we look at some of...
Published: Saturday, 09 September 2006 04:00:00
Duration: 00:14:14
Size: 15.67 MB
Link
This week we deal with the issues involved with having cars that are used by employees, and the various rules that employers need to deal with in that situation. While arguably not
Published: Friday, 01 September 2006 19:00:00
Duration: 00:13:34
Size: 14.93 MB
Link
Paying your children to work in your business can make sense both for the business and from a family tax planning standpoint, but you have to take care to justify that the children
Published: Saturday, 26 August 2006 13:53:00
Duration: 00:12:43
Size: 14.0 MB
Link
We look at a case this week that deals with the continuing problems of employee related options that were exercised when the stock was at a high price, but whose price collapsed before...
Published: Saturday, 19 August 2006 13:48:00
Duration: 00:12:07
Size: 13.35 MB
Link
This week we look at a provision buried in the Pension Protection Act of 2006 that involves employer owned life insurnace. The provision in question renders the death benefit taxable...
Published: Saturday, 12 August 2006 01:31:00
Duration: 00:16:34
Size: 18.23 MB
Link
Taxpayers get their advice from a lot of sources, and we often end up having to defend our own advice against other sources. This week we have two cases that show that all advice is...
Published: Friday, 04 August 2006 23:16:00
Duration: 00:12:00
Size: 13.21 MB
Link
Is a distribution made to a surviving spouse that was rolled to her IRA but can be traced to her deceased spouse's IRA account eligible for the death benefit exception to Section 72(t)?...
Published: Saturday, 29 July 2006 00:50:00
Duration: 00:13:37
Size: 14.99 MB
Link
And now for something completely different-coverage of FASB. Well, actually there is a tax angle to this one, as FASB has issued FASB Interpretation 48 in final form in June that will...
Published: Friday, 21 July 2006 22:51:00
Duration: 00:18:00
Size: 19.81 MB
Link
The logic of the application of the IRC to specific situations at times seems to defy common logic, and this week we look at a specific case of such. In this case, the Tax Court decided...
Published: Saturday, 15 July 2006 13:04:00
Duration: 00:10:06
Size: 11.13 MB
Link
The issue of the taxation of prepaid purchase discounts that may need to be refunded if purchase goals are not met has resurfaced as the Ninth Circuit Court of Appeals reversed the
Published: Saturday, 08 July 2006 13:36:00
Duration: 00:15:47
Size: 17.37 MB
Link
For our one year anniversary show, we take a look at the newly released regulations under Section 199 as they define construction found at Regulation Â1.199-3(m). These definitions
Published: Saturday, 01 July 2006 00:06:00
Duration: 00:12:26
Size: 13.68 MB
Link
A few weeks ago (back in April) we looked at the case of Ruckreigel where a taxpayer lost an IRS challenge on whether a debt was truly from the shareholders to the corporation due to...
Published: Saturday, 24 June 2006 00:00:00
Duration: 00:13:00
Size: 14.31 MB
Link
Another Circuit chimes in on the issue of the FICA taxation of payments made in exchange for tenure rights as part of an early retirement package offered to teachers. In a combined
Published: Saturday, 17 June 2006 13:28:00
Duration: 00:10:16
Size: 11.31 MB
Link
The IRS on May 15 issued a Headliner on their website directed at tax professionals that attempted to explain the treatment of policies purchased by a single employee shareholder of...
Published: Saturday, 10 June 2006 04:03:00
Duration: 00:11:51
Size: 13.05 MB
Link
A special podcast this week of interest to practitioners (and their clients) who bulk filed paper extensions with the Fresno Service Center. The IRS recently admitted to a mistake in...
Published: Sunday, 04 June 2006 21:07:00
Duration: 00:05:51
Size: 6.44 MB
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Divorce settlements at times are frustrating for tax preparers to work with, since they often leave dangling the issue of whether payments were or were not intended to be alimony and,...
Published: Saturday, 03 June 2006 13:57:00
Duration: 00:10:28
Size: 11.53 MB
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For Memorial Day, the podcast will take a break from tax related topics and consider rather some issues that arise when you, like many this weekend, are traveling and take your laptop...
Published: Saturday, 27 May 2006 13:41:00
Duration: 00:16:04
Size: 17.69 MB
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We finally have a 2005 extender bill, albiet missing a few extenders and with a few surprises (some good, some not so great). The President signed the bill into law this week, so it's...
Published: Saturday, 20 May 2006 00:08:00
Duration: 00:13:06
Size: 14.41 MB
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Taxpayers who take distributions from retirement plans prior to attaining age 59 1/2 have to deal with a confusing set of rules of which distributions are and are not eligible to escape...
Published: Friday, 12 May 2006 23:52:00
Duration: 00:18:17
Size: 20.12 MB
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The Tax Court looked at the interaction of the $3,000 capital loss limitation and the alternative minimum tax basis adjustment on the sale of shares originally obtained via the exercise...
Published: Friday, 05 May 2006 21:00:00
Duration: 00:14:49
Size: 16.3 MB
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Shareholder debt to S corporations has proven to be a minefield for shareholders and their advisers, and the taxpayer and their adviser in the case of Ruckriegel v. Commissioner managed...
Published: Friday, 28 April 2006 22:06:00
Duration: 00:12:46
Size: 14.05 MB
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Much of the information that taxpayers need to deal with their tax obligation arrives via the U.S. mail. But what happens when that mail is delivered to the wrong address and either...
Published: Saturday, 22 April 2006 11:57:00
Duration: 00:09:49
Size: 10.81 MB
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Can adopting a child, an apparently voluntary endeavor, qualify as an unforseen circumstance for purposes of obtaining an early exclusion of gain from the sale of a home under Section...
Published: Saturday, 15 April 2006 11:52:00
Duration: 00:14:32
Size: 15.99 MB
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The case of Benson v. Commissioner, TC Memorandum 2006-55, provides a look at the issue of what constitutes adequate disclosure under Section 6501(e)(1)(A)(ii) for purposes of avoiding...
Published: Saturday, 08 April 2006 00:00:00
Duration: 00:11:21
Size: 12.49 MB
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We look at the exclusion for personal injuries under Section 104 this week, as well as the nature of a reasonable cause for purposes of escaping the imposition of a penalty. We use
Published: Saturday, 01 April 2006 00:11:00
Duration: 00:11:20
Size: 12.47 MB
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This week we look at the issues and limitations involving the Cohan rule and its use in tax compliance and representation work. The materials can be downloaded from http://edzollars.com/2006-03-25_Cohan.pdf. The...
Published: Saturday, 25 March 2006 00:47:00
Duration: 00:09:31
Size: 10.48 MB
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This week we look at some issues revolving around payroll tax deposits, including the IRS and Social Security Administration recent caution about the use of payroll services to deposit...
Published: Saturday, 18 March 2006 01:11:00
Duration: 00:11:31
Size: 12.68 MB
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In honor of the upcoming March 15 filing deadline for calendar year corporations, this week we look at the issue of just what is a "qualified personal service corporation" and, perhaps...
Published: Saturday, 11 March 2006 00:00:00
Duration: 00:13:32
Size: 14.9 MB
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This week's podcast arose from a discussion that began on the California Society of CPAs TaxTalk group on Yahoo about the widespread use of Circular 230 disclaimers. There seems to...
Published: Saturday, 04 March 2006 11:10:00
Duration: 00:13:21
Size: 14.69 MB
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This week we look at issues surrounding what are medical expenses for various tax purposes, as well as a case where the taxpayer successfully defended hiring her spouse as employee,...
Published: Saturday, 25 February 2006 01:02:00
Duration: 00:16:32
Size: 18.2 MB
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We take a bit of a break from developments to talk about the issues and methods of tax research this week. We look at how to learn to efficiently deal with research issues that arise...
Published: Saturday, 18 February 2006 01:00:00
Duration: 00:20:43
Size: 22.79 MB
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This week's program discusses charitable remainder trusts in light of the IRS granting relief from an issue they first seemed to have discovered last year regarding the potential state...
Published: Saturday, 11 February 2006 00:00:00
Duration: 00:14:00
Size: 15.42 MB
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This week we take a look at the Tax Court's application of the charitable documentation regulations to two real world cases. In the case of Kendrix v. Commissioner a former IRS CID...
Published: Saturday, 04 February 2006 00:30:00
Duration: 00:14:12
Size: 15.63 MB
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Congress hates employees--that's a fact of life that a worker learns the hard way in the case of Alley v. Commissioner, (TC Summary Opinion 2006-4) that we discuss this week. Mr. Alley...
Published: Saturday, 28 January 2006 00:37:00
Duration: 00:13:29
Size: 14.85 MB
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This week we finally get a break from the Schedule D developments and move on to a new topic. We discuss simplified employee pensions, including the basic rules that apply to them,...
Published: Saturday, 21 January 2006 02:34:00
Duration: 00:12:42
Size: 13.98 MB
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In what has become an unintended series of podcasts, we deal once again (and hopefully for the final time) with the IRS's revisions to the Schedule D instructions, and the subsequent...
Published: Saturday, 14 January 2006 02:00:00
Duration: 00:09:32
Size: 10.5 MB
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While highly unofficial at this point, the IRS has begun circulating a "clarification" of the Schedule D issue. This special podcast discusses this email document and what it means...
Published: Monday, 09 January 2006 00:45:00
Duration: 00:09:49
Size: 10.81 MB
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This week we look at the updated uniform definition of a child and other changes to the dependency exemption under Section 152 that Congress passed last year, as well as a technical...
Published: Saturday, 07 January 2006 01:00:00
Duration: 00:13:26
Size: 14.79 MB
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We mark six months of podcasts this week (the first Tax Update was posted right after Apple opened up the iTunes music store to podcasts). To close out the year and get ready for...
Published: Saturday, 31 December 2005 01:00:00
Duration: 00:16:08
Size: 17.76 MB
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For our Christmas Eve edition of the podcast we look at the controversy that has arisen about a modification the IRS made to this year's Schedule D instructions. In the 2005 edition...
Published: Friday, 23 December 2005 23:00:00
Duration: 00:13:16
Size: 14.6 MB
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This week we look at adequate disclosure under Revenue Procedure 2005-75 for purposes of escaping the substantial understatement penalty under Section 6662(a). Download the materials...
Published: Saturday, 17 December 2005 01:00:00
Duration: 00:13:02
Size: 14.35 MB
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This week we look at the issue of legal fees and settlement, and the tax status of such. We'll look at the result in the Hauge case where a taxpayer and the partnership she owned...
Published: Saturday, 10 December 2005 01:00:00
Duration: 00:09:24
Size: 10.35 MB
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Be sure to download the materials from http://edzollars.com/2005-12-03_Alimony_Defintion.pdf. This week's podcast deals with the tax issues related to alimony, and looks at two recent...
Published: Saturday, 03 December 2005 01:00:00
Duration: 00:13:30
Size: 14.87 MB
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This week we look at a case involving two doctors who receive funds from the local school to use for the education of their autistic child. The doctors attempted to claim they were...
Published: Saturday, 26 November 2005 01:00:00
Duration: 00:10:29
Size: 11.53 MB
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We look at a recent private letter ruling where the IRS made it clear that taxpayers who use the 60 day rollover rule to "borrow" from their IRA do so at their own risk, even if events...
Published: Saturday, 19 November 2005 01:00:00
Duration: 00:05:05
Size: 5.6 MB
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This week's podcast is based on my presentation today at the Arizona Society of CPAs' Arizona Federal Tax Insitute held at the Arizona Biltmore. The Biltmore is located just south...
Published: Saturday, 12 November 2005 02:20:00
Duration: 00:10:53
Size: 11.97 MB
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This podcast deals with three cases that dealt with attempts to have the court deal with the substance of a transaction as opposed to its form. We'll discuss why the IRS can succeed...
Published: Saturday, 05 November 2005 01:38:00
Duration: 00:06:25
Size: 7.07 MB
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This week we look at two recent Tax Court cases that dealt with contributions to charity and the values of the items donated. In one case, the item donated was a car while in the
Published: Friday, 28 October 2005 23:18:00
Duration: 00:05:35
Size: 6.16 MB
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This week we discuss the issues surrounding the use of the mail and electronic filing to prove a filing date. The materials can be downloaded from this link and can be referred...
Published: Friday, 21 October 2005 22:30:00
Duration: 00:07:20
Size: 8.07 MB
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Today Anthony Forschino, Legilsative Liaison for the Arizona Department of Revenue spoke at the Arizona Society of CPAs Arizona DOR Liaison Luncheon about legislation passed
Published: Thursday, 20 October 2005 23:34:00
Duration: 00:05:35
Size: 6.14 MB
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This podcast is based on the September 20 presentation I gave for the Arizona Society of CPAs on the changes to Circular 230 that became effective over the summer. The manual that...
Published: Saturday, 15 October 2005 05:00:00
Duration: 00:25:10
Size: 27.69 MB
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This week we look at two Tax Court opinions released on the same day that both dealt with whether a transaction represented a loan to the taxpayer or was income. The cases are Teymourian...
Published: Saturday, 08 October 2005 01:35:00
Duration: 00:05:34
Size: 6.14 MB
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Comments sparked by an online discussion on Yahoo Groups Taxprofessionals group with Drew Edmundson. I wanted to clarify that I didn't mean to be completely negative about Microsoft...
Published: Wednesday, 05 October 2005 05:00:00
Duration: 00:02:18
Size: 2.54 MB
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This is a recording of a presentation made on the morning of September 27 at the Virginia Accounting & Auditing Conference on the Accounting Office of the Future (or at least that's...
Published: Saturday, 01 October 2005 05:00:00
Duration: 00:20:20
Size: 22.37 MB
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This file contains a correction/clarification to yesterday's KETRA update. As is pointed out in this program, Section 303 of the Act does limit these higher rates to provision of
Published: Friday, 30 September 2005 00:08:00
Duration: 00:00:28
Size: 0.53 MB
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This quick update summarizes the items contained in the Katrina Emergency Tax Relief Act of 2005 (KETRA), concentrating on those items that have impact across the country, as well as...
Published: Wednesday, 28 September 2005 10:46:00
Duration: 00:01:46
Size: 1.95 MB
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This week's podcast deals with arbitration awards and IRA accounts. What happens when a taxpayer is awarded an amount in arbitration regarding the management of an IRA account, but...
Published: Saturday, 24 September 2005 05:00:00
Duration: 00:05:17
Size: 5.82 MB
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No, we're not talking about reconsidering your vote from last November. Rather, this week's podcast deals with both the automatic and discretionary extensions the IRS grants to make...
Published: Saturday, 17 September 2005 01:02:00
Duration: 00:11:21
Size: 12.5 MB
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Today's podcast reports on the Arizona Society of CPAs' Arizona Department of Revenue Liaison luncheon today. Speaking at the lunch was Christie Comanita, Manager in the Tax Policy...
Published: Thursday, 15 September 2005 23:30:00
Duration: 00:04:52
Size: 5.36 MB
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This weeks podcast deals with two recent cases, one a win for taxpayers and one a loss. You can download the material (which consists of the two cases) from this link. In the first...
Published: Friday, 09 September 2005 07:00:00
Duration: 00:05:57
Size: 6.55 MB
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This week we look at a recent decision (Brooks v. Commissioner, TC Memo 2005-204) involving the impact of repaying S corporation debt during the year when, at the beginning of the year,...
Published: Friday, 02 September 2005 17:15:00
Duration: 00:05:09
Size: 5.68 MB
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Given the disaster that has taken place on the Gulf Coast with Hurricane Katrina and its aftermath, Ive put together a quick and dirty summary of some of the tax issues involved in
Published: Thursday, 01 September 2005 01:33:00
Duration: 00:04:40
Size: 5.14 MB
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Weekly podcast 12 dealing with children of divorced parents. A recent Tax Court Summary Opinion (Oman v. Commissioner, TC Summary Opinion 2005-110) potentially sheds some new light...
Published: Friday, 26 August 2005 16:00:00
Duration: 00:08:05
Size: 8.91 MB
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Weekly podcast 11, dealing with the solar energy provisions of the Energy Tax Incentives Act of 2005 and the related credits available under Arizona income tax law. The Podcast Materials...
Published: Friday, 19 August 2005 13:02:00
Duration: 00:04:37
Size: 5.08 MB
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Arizona Tax Update podcast report on the Arizona Society of CPAs Arizona Tax Liaison Committee luncheon today at the Phoenix Doubletree Guest Suites at the Gateway Center (44th Street...
Published: Friday, 19 August 2005 00:29:00
Duration: 00:01:58
Size: 2.17 MB
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Podcast 10, produced and uploaded on a MacIntosh mini just for something different to do. This is the first of what I hope will be a set of three podcasts dealing with the Energy Bill...
Published: Thursday, 11 August 2005 23:00:00
Duration: 00:05:04
Size: 5.57 MB
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A general update on tax developments this week, including a summary on two new tax bills, two revenue rulings that were published, and a discussion of the IRS announcement of National...
Published: Saturday, 06 August 2005 01:54:00
Duration: 00:05:54
Size: 6.49 MB
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Postcast 8 on uninsured medical reimbursement plans--a structure that's not for everyone, but which is a perfect fit in the right situation. Download the materials via the ezollars.libsyn.com...
Published: Friday, 29 July 2005 08:00:00
Duration: 00:05:22
Size: 5.91 MB
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TaxUpdate goes Live! Podcast 007 dealing with reportable transactions and the penalty for failure to disclose added by last year's law. Download materials that consist of the Powerpoint...
Published: Wednesday, 27 July 2005 01:07:00
Duration: 00:18:11
Size: 20.01 MB
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Weekly show 6 dealing with employee business expenses and reimbursable plans per IRC Section 62(c). You should download the "handout" in addition to listening to the podcast itself....
Published: Sunday, 24 July 2005 12:49:00
Duration: 00:07:02
Size: 7.75 MB
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Weekly show 6 dealing with employee business expenses and reimbursable plans per IRC ÃÂ62(c). You should download the "handout" in addition to listening to the podcast itself. The...
Published: Friday, 22 July 2005 22:00:00
Duration: 00:07:02
Size: 7.75 MB
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Show 5.5 (not a weekly show--kind of a "special report"). This show presents a "first day" view of the Strangi decision issued today by the Fifth Circuit Court of Appeals. The Fifth...
Published: Monday, 18 July 2005 22:39:00
Duration: 00:03:43
Size: 4.09 MB
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Show number 5. The self-employed health insurance deduction under IRC Section 162(l) is covered by this podcast. The information for the podcast is found at http://www.edzollars.com/SelfEmployedHealthInsurance.pdf....
Published: Saturday, 16 July 2005 01:30:00
Duration: 00:03:34
Size: 3.93 MB
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This week's "regular" podcast (assuming two weeks make this regular) deals with how three states determine if a trust or estate is a resident or nonresident entity, as well as containing...
Published: Friday, 08 July 2005 23:45:00
Duration: 00:04:27
Size: 4.91 MB
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Updated discussion of self-employment matters to cover matters raised by posters to Yahoo Groups' taxupdate discussion group. The IRS poster referenced is at: http://www.irs.gov/p
Published: Tuesday, 05 July 2005 20:02:00
Duration: 00:02:45
Size: 3.03 MB
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The status of self-employment tax and limited liability companies. This a portion of a presented made at the Phoenix Tax Workshop. The materials for the full presentation, which also...
Published: Saturday, 02 July 2005 16:00:00
Duration: 00:03:25
Size: 3.77 MB
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A summary of the tax laws passed and signed into law in the most recent Arizona legislature session, based on a summary presented to the Phoenix Tax Workshop. You should download the...
Published: Saturday, 02 July 2005 11:00:00
Duration: 00:03:06
Size: 3.42 MB
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