Spidell's Federal Tax Minute

This week, we're covering the tips, overtime, and auto interest provisions in the tax bill that's working its way through Congress.

This week, we're covering the pros and cons of using AI tools in your tax practice.

This week we're covering proposed changes that the pending tax bill would make to the state and local tax deduction limit.

This week, we're covering some of the key provisions in the draft tax legislation that was released on May 12.

This week, we're covering Form 1099-K matching problems and how to solve them.

This week, we're covering expanded features of the IRS's Individual Online Account tool.

This week we're covering some recent updates regarding Social Security benefits.

This week we're covering tax legislation focused on improving IRS services.

This week, we're covering the proposed changes to update Treasury Department Circular 230, which governs practice before the IRS.

This week we're covering the provisions of the Federal Disaster Tax Relief Act of 2023.

This week, we're covering some federal filing updates to be aware of for the start of the 2025 filing season.

This week we're covering some temporary relief for reporting certain digital asset transactions.

This week we're covering some recent upgrades to the IRS's Business Tax Account tool.

This week we're covering some considerations following the recent beneficial ownership reporting suspension.

This week we're covering the new IRS form for making an IRC §83(b) election and the basics of §83.

This week we're covering the Form 15400 dealer report that taxpayers receive when a vehicle qualifies for one of the clean vehicle credits.

This week we're covering the tax policy changes that we may see when President Trump returns to the White House in 2025.

This week we're covering the benefits of health savings accounts, including account portability.

This week, we're covering some of the tax benefits available to military members serving in a combat zone.

This week we're discussing when legal fees may still be deductible above the line on the 1040.

This week, we're discussing what to consider when choosing a trustee to manage assets in a trust.

This week, we're covering continuing care retirement communities and medical expenses.

This week we're discussing wealth planning with intrafamily loans.

This week we're covering new Form 7217 for reporting property distributed by partnerships in either a liquidating or nonliquidating distribution.

This week, we're talking about the risks of a compromised CAF number and the IRS's process for handling these.

This week we're talking about the exemption that “large” companies have from beneficial ownership information reporting requirements.

Certain provisions of the SECURE 2.0 Act could affect amounts reported on Form W-2.

This week we're talking about how taxpayers can know when a call from a private collection agency is legitimate.

This week we're discussing RMD requirements for inherited Roth IRAs.

This week we're discussing registration tips for using the IRS's IRIS portal for information returns.

This week we're discussing the advantages and disadvantages of filing married filing separate versus married filing joint.

This week we're discussing the multifactor authentication requirement for tax professionals to safeguard sensitive client information.

This week we're talking about Form 2553 and the ways it can be used beyond just for making an S corporation election.

This week, we're talking about the credit for electric and hybrid vehicles, and some clarifications to be aware of.

This week we're discussing the mega back-door Roth and what's required to be able to take advantage of this strategy.

This week, we're covering the latest guidance on digital asset reporting.

This week we're discussing Roth SEP and SIMPLE IRAs, how to report contributions, and planning tips.

This week, we're covering investment strategies for young adults and children.

This week, we're covering changes that the Social Security Administration is making to simplify the disability evaluation process.

This week, we're talking about final regulations the IRS has released for increased clean energy project benefits.

This week we're discussing limited partners and self-employment tax, and some recent cases on this issue.

This week we're covering the requirements for the New Energy Efficient Home Credit available to builders and contractors.

This week we're covering the tax effects of financing solar panels through the PACE and HERO programs.

This week we're covering the private collection agencies used by the IRS, and how to know if a call from one of these agencies is legitimate.

This week we're talking about repaying Social Security benefit overpayments, and some recent policy changes regarding these payments.

This week we're covering when a taxpayer is and is not required to file an amended return.

This week we're discussing homeowners association dues and assessments and when they're deductible.

This week, we're covering Form 1098-Q, which provides information on qualified longevity annuity contracts.

This week we're covering two avenues still available for taxpayers who missed the Employee Retention Credit voluntary disclosure program.

This week we're covering the basics of restricted stock units including the disposition of stock acquired through restricted stock units and basis issues.

This week we're covering the new tax deal that's in the works and how it's tied to the Employee Retention Credit.