Spidell's Federal Tax Minute

This week we're discussing the clean vehicle credits that are available through dealerships.

This week we're covering Forms 1099-NEC and 1099-K and the issues that can arise when certain payments appear on both of these forms.

This week we're covering the beneficial ownership reporting requirement which starts January 1, 2024, for certain entities formed in 2024.

This week we're covering durable powers of attorney and when they may apply to represent a taxpayer in federal tax matters.

This week we're covering some things to keep in mind for taxpayers who have an HSA or an FSA, as the end of the year approaches.

This week we're discussing planning tips for leveraging capital gains and losses.

This week, we're covering the basics of reverse mortgages, such as the types available, eligibility requirements, and more.

This week we're covering the time period for filing an estate tax return only for the purpose of making a portability election.

This week we're covering some expanded features to the IRS's Tax Pro Account system.

This week we're covering the recently issued Clean Vehicle Credit guidance that addressed several open questions.

This week we're covering some common questions we receive regarding gift tax returns.

This week we're discussing some planning tips for certain Tax Cuts and Jobs Act provisions that will be sunsetting in 2025.

This week we're covering recent guidance from the IRS that answers many of the questions practitioners have been asking about research-related expenses.

This week we're covering centralized partnership audit regime audits and why a partnership should elect out of CPAR if it's able to.

This week we're covering centralized partnership audit regime audits and why a partnership should elect out of CPAR if it's able to.

This week we're talking about new proposed regulations and a new form for reporting proceeds from the sale of digital assets.

This week we're covering the e-file requirement for information returns, including Form 8300 which is filed after receiving cash payments of over $10,000.

This week we're covering the kiddie tax and investment decisions that will reduce the child's unearned income.

This week we're covering the provisions of the Department of Education's new Saving on a Valuable Education student loan repayment plan.

This week we're talking about the IRS's information return filing portal and some issues that may arise when registering to use it.

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

This week we're covering the five-year rule for Roth IRA contributions and payouts, and which contributions start the five-year period.

This week we're covering the income tax and self-employment tax reporting requirements for taxpayers who receive a minister's housing allowance.

This week we're covering a tax professional's responsibility when it comes to the Employment Retention Credit and studies prepared by another firm.

This week we're talking about §1031 exchanges and when it might be a good idea not to enter into an exchange transaction.