Thursday, June 18, 2015

Wolters Kluwer - Federal Tax Weekly

Federal Tax Weekly

  • Regs Require Corporate Partner To Recognize Gain On Deemed Exchange Of Stock For Appreciated Property 
  • Regs Would Implement Code Sec. 732(f) To Prevent Tax Avoidance By Corporate Members Of Partnership 
  • Consolidated Return Regs Tackle Circular Basis Problem And Member Loss Allocations 
  • IRS Launches Joint Effort To Combat Identity Theft Refund Fraud 
  • Agencies Issue Final Regs On PPACA’s Summary Of Benefits And Coverage 
  • IRS Updates Procedures For Pre-Approved Plans 
  • Some Form 8966 Filers Eligible For Extension/Waiver Of Electronic Filing 
  • Eighth Circuit Affirms Payment Of Wages From IRA-Owned LLC Was Prohibited Transaction 
  • IRS Issues Final Regs On Estate Tax Portability Election 
  • IRS Reminds Taxpayers Of FBAR/FATCA Obligations 
  • Tax Briefs 
  • Eleventh Circuit Rejects Res Judicata, Upholds IRS Claims Against Estate 
  • IRS Updates Oklahoma Disaster Relief 
  • Practitioners’ Corner: Can Summer Camp Costs Qualify For A Tax Credit? 
  • Washington Report 
  • Compliance Calendar

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Friday, June 12, 2015

ACA Transition Relief. June 30, 2015 Excise Tax Deadline.

Small employers (non Applicable Large Employers) that reimburse employees for the cost of individual health coverage – should adjust any applicable employer payment plans not in compliance with ACA by June 30, 2015

Insight on the Affordable Care Act
The IRS has provided transition relief and guidance for employers that reimburse employees for the cost of individual health coverage. Employer group health plans must abide by a number of rules, including the market reform rules adopted by the Affordable Care Act. Many small employers were shocked to learn last year that employee payment plans, under which they reimbursed their employees for the cost of obtaining individual health insurance, violated certain Affordable Care Act rules, and that they risked a $100 per day per affected employee excise tax if they continued using such an arrangement starting in 2014. This latest guidance offers transition relief, and clears up some confusion arising from previous IRS guidance.

Transition relief for 2014 and half of 2015
The excise tax will not be asserted for any failure to satisfy the market reforms by employer payment plans that pay, or reimburse, employees for individual health policy premiums or Medicare Part B or Part D premiums for 2014 for employers that are not Applicable Large Employers (ALEs) for 2014. Relief also extends from January 1 through June 30, 2015, for employers that are not ALEs for 2015. After June 30, 2015, such employers may be liable for the excise tax. ALE status is determined under the employer mandate rules.

-via CCH ClientRelateTM

Free webinar on the Affordable Care Act 
Complimentary Web Seminar
July 21, 2015
2 pm ET/11 am PT
Join top tax expert Mark Luscombe, JD, LLM, CPA as he discusses the Affordable Care Act (ACA) — the most recent decisions, developments, requirements and how it may impact your business.

 Topics include:
·         Implications of the Supreme Court decision in King v. Burwell on the Affordable Care Act
·         Preparing for the employer mandate starting in 2015/2016
·         Preparing for employer reporting starting in 2015
·         Reimbursement of employees for health insurance expenses
·         Anticipating the excise tax on “Cadillac” health plans starting in 2018
·         Legislative activity related to the Affordable Care Act in 2015

Get Guidance now on ACA:

·         CCH Learning Course: Employer Mandate of the Affordable Care Act
·         CCH Learning Course: Health Care Reform and Closely Held Businesses  
·         CCH Seminar Affordable Care Act: Understanding the Employer Mandate 
·         CCH Seminars Recordings Affordable Care Act

Wednesday, June 3, 2015

June 30th CPE Deadline Approaches.

CPE DEADLINE FOR 13 STATES: June 30, 2015 is fast approaching to fulfill CPE requirements in Connecticut, Delaware, Florida, Iowa, Kansas, Massachusetts, Michigan, Minnesota, Mississippi, New Hampshire, North Dakota, Oregon, and South Dakota. 

For the 11 states that have an Ethics requirement for this deadline, may we suggest these Regulatory Ethics CPE courses:

 Or State Ethics or Specialty CPE Courses
·         Ethics for Connecticut CPAs
·         Ethics for Delaware CPAs
·         A&A Specialty Libraries
·         Ethics for Oregon CPAs

Friday, May 1, 2015

Have You Repaired Yourself from filing all those Form 3115s?

Best practices on Tangible Property Regulations & Completed 3115s
Eric Wallace, CPA and Joe Gornick
Learning Repair Regs with Jared R. Rogers, CPA
from Wilson Rogers & Company, Inc.
Wendy Becker, Eric Wallace, Grace Hong
Thanks for the great on-site event.
Tangible Property Regulations: From Rules and Insights to Case Study
Examples and Applications with Completed 3115s
Upcoming Seminars on Repair Regs with Eric P. Wallace

Friday, April 17, 2015

The Aftermath.

Now that April 15th has passed, it was due time to get back into the fitness regimen we all promised to do.

Probably should have attempted to go to a less intensive class until I build up my stamina again.

"Jackknives for 5 minutes straight? Got it."

My realization that I'm a little behind the rest of the class during Crossfit intervals.

Tuesday, August 5, 2014

Free Webinar with CPE: Complying with Transfer Pricing: A Brave New World

Complying with Transfer Pricing: A Brave New World
AUGUST 6, 2014 

This webinar will discuss the changing landscape of transfer pricing enforcement and how it will impact international transfer pricing compliance.

You'll leave this webinar understanding the impact of OECD guidelines, the US dispute resolution process, practical ways to deal with global risk and how best to structure your international tax department to deal with changing conditions.

Topics include:

  • Impact of emerging countries and OECD country by country guidelines 
  • US reactions to global change and dispute resolution 
  • Taxpayer strategies to deal with global risk in the new environment 


Steven C. Wrappe, National Leader for Transfer Pricing Dispute Resolution (TPDR)
Deputy Head of Global TPDR, KPMG

Steve has nearly 25 years of client and government experience in transfer pricing. Prior to joining KPMG, he led the APA practice of two other Big Four Firms and was a partner with a global law firm. Before that, Steve was a Senior Attorney with the IRS APA Program. Steve’s transfer pricing controversy experience includes examination, appeals, alternative dispute resolutions, advance pricing agreement (APAs), mutual agreement procedures (MAP) and Customs agreements. He is one of the most experienced APA or MAP negotiators at any firm, with a combined experience of over 150 cases.

Wolters Kluwer, CCH