A place for taxation and accounting professionals to discuss their trade. Joe Manchin (D-W.Va.) and Kyrsten Sinema (D-Ariz.). If you think you have been blocked in error, contact the owner of this site for assistance. You can now obtain the ERC and the Paycheck Protection Program loan, but not on the same wages. Learn how proposed regulations may limit the benefit of lifetime gifting to preserve large estate tax exclusions, Know how and when to complete Schedules K-2 and K-3, Prepare your clients for new reporting requirements under the Corporate Transparency Act (failure to comply means massive penalties or jail), Maximize tax benefits for research expenditures, Make sure your clients arent missing out on Employee Retention Credits its not too late, Be prepared for the return of excess business loss limitations, Understand the expanded business interest limitation for 2022 and how your clients will be affected, Attend in November or December and use tax planning strategies based on new laws and proposed changes to help your clients, Solve California tax problems with our firsthand info from the FTB, Be ready to provide California tax basis for partnerships/LLCs, See when making another passthrough entity elective election is a good idea, Help your clients avoid Californias mandatory e-pay penalties, See why more businesses are going to owe California tax, Make sure your clients are complying with CalSavers to avoid hefty penalties, Discuss the current status of worker classification and AB 5. While we have seen some federal tax legislation, the changes have been far more limited than many expected. This week were covering some of the basics of incentive stock options and how and when to recognize income. Generated by Wordfence at Sat, 4 Mar 2023 10:53:22 GMT.Your computer's time: document.write(new Date().toUTCString());. You should consult the IRS or your tax professional regarding the federal tax treatment of these payments. H|TMo0+H?DJ"mnh@P8p7&K2ePAi*FIi+/C>a1@.` Atomized Theory, Inc.All rights reserved. Planning and strategy for your most valuable clients Spidell's Federal Taxletter is a monthly newsletter plus a searchable online archive of back issues that keeps you at the leading edge of the issues that will impact your clients, from healthcare to trusts and from LLCs to virtual currencies. the place to be if you want to be part of a wonderful community of practitioners. One could add Form 8275 disclosure if nervous about penalties. To assist you in this endeavor, our year-end tax letter also includes articles on the evolving world of digital assets, happenings at the IRS, information reporting, new international tax issues and reporting as well as the latest in state and local taxation. 85-39, 1985-1 C.B. This webinar is designed to meet the requirements for the specified number of hours of continuing education for the California Board of Accountancy. 21. Spidell's Federal Tax Minute Sep 29 2022 4 mins This week we're covering employer health insurance mandate letters that the IRS is sending to initiate assessing employer shared responsibility payments. Both of these enjoy strong support on both sides of the aisle. Wordfence is a security plugin installed on over 4 million WordPress sites. We California tax professionals are lucky to have them in our corner. Its rare, but even sometimes common sense will prevail with the IRS. 0 If you are not completely satisfied with this course in any way,we will provide you with a full refund, hassle-free. Convert your webinar registration to a live seminar for a nominal additional fee. Access from your area has been temporarily limited for security reasons. The need for clarity in the federal oversight and tax treatment of digital assets is rapidly escalating. As always, you may switch from one webinar date to another, to the on-demand webinar version, or to the self-study version FOR FREE. The intended recipients of this communication and any attachments are not subject to any limitation on the disclosure of the tax treatment or tax structure of any transaction or matter that is the subject of this communication and any attachments. Spidell's Federal Tax Minute. 2022 Spidell Publishing, Inc. P.O. Access from your area has been temporarily limited for security reasons. HT]o@|W]>R)|T-%"*!RR|o8[*r^g;kIe7S'*8n:]kS2dq8SOZQac.DS4C\m2ppE@w@*JHC((XR]+F`D(GT.Z#pQ 3h.EVzT~>~uP/MM-,AZ28_$g6EH8] ZBu19_|8p8cBD+}k"ifr9Gmf*KC&Os? Following the midterm elections, any tax legislation is largely dependent upon the composition of the next Congress. Spidell's Federal Taxletter Free CPE for CPAs, EAs, and CRTPs Caltax.com user guide Authors and Speakers News 2023-14: California will conform to October 16 deadline extension (March 2, 2023) California will conform to October 16 deadline extension (March 2, 2023) Option to receive text messages from the FTB (February 28, 2023) Free with registration AB 150 client letter: Californias recently passed AB 150 allows owners of qualified S corporations, partnerships, or LLCs to greatly reduce their tax liability. I wonder why Dave did not conclude as to whether there is a more-likely-than-not, substantial-authority, or reasonable basis for his conclusion, which, btw, is simply. This week were covering the advantages and disadvantages of the married filing separate filing status. It should not be presumed that because a taxpayer did not get a 1099-MISC, their payment is not subject to federal tax. Delivery method: Self-Study. Today, you'll find our 431,000+ members in 130 countries and territories, representing many areas of practice, including business and industry, public practice, government, education and consulting. State Boards of Accountancy have the final authority on the acceptance of individual course for CPE credit. RtK=oeic[k_9BPSs0u~{NLxI(/Z^l|F|`,? sZ{V But it is not unusual at all for someone to make a statement that is not completely correct and omit the nuances that could cause a professional to come to a different conclusion. Viewing your IRS account information. cl-letter1040: 1040 engagement letter This letter is provided for information purposes, only. H|Tn0+xvi A[+3[$nRlJ\r+6?,gu rG,1/~z/w/>8ao{H&Dr'T16nk?HW*?9e>7;+O> 9BqO6a`/9FfaY. Besides the IRA, taxpayers continue to wait on further guidance pertaining to the many other tax provisions enacted over the past five years. You can also read the documentation to learn about Wordfence's blocking tools, or visit wordfence.com to learn more about Wordfence. And if it's not "income", what else is it? It excludes from income a qualified disaster relief payment. 139(b)(1) says that this is an amount paid to reimburse or pay reasonable and necessary personal, family, living, or funeral expenses incurred as a result of a qualified disaster. 139(c)(2) says that a federally-declared disaster is a qualified disaster.. 2802C Withholding Compliance Letter: This letter is mailed to taxpayers who have been identified as having under-withholding of Federal tax from their wages. IRS issues guidance on new Clean Vehicle Credit. 2023 Spidell Publishing, LLC All rights reserved. SECURE 2.0 allows for 529 plan rollovers to Roth accounts. endstream endobj 123 0 obj <>/Metadata 10 0 R/OpenAction 124 0 R/Outlines 15 0 R/Pages 120 0 R/StructTreeRoot 21 0 R/Suspects false/Type/Catalog/ViewerPreferences<>>> endobj 124 0 obj <> endobj 125 0 obj <>/MediaBox[0 0 612 792]/Parent 120 0 R/Resources<>/Font<>/ProcSet[/PDF/Text/ImageC]/XObject<>>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 126 0 obj <>stream Welcome to Spidell's Federal Tax Minute, a weekly podcast that focuses on federal tax news snippets to keep you up-to-date on the issues that affect your clients and your practice, in an audio format that you can access at your office or on your phone. Today, you'll find our 431,000+ members in 130 countries and territories, representing many areas of practice, including business and industry, public practice, government, education and consulting. Customer service representatives available Monday Friday 7:00 a.m. 5:00 p.m. PT. Our history of serving the public interest stretches back to 1887. Your satisfaction is our priority. Access from your area has been temporarily limited for security reasons. It has been a challenging year both economically speaking and in terms of tax planning. (a) Gross income does not include any payments received by an individual pursuant to Section 8161 of the Welfare and Institutions Code. If Democrats maintain control of the House and increase their majority in the Senate, they may pursue remaining policies from the original Build Back Better bill. House Republicans have offered a broadly stated policy proposal if they control the House in January. You can also read the documentation to learn about Wordfence's blocking tools, or visit wordfence.com to learn more about Wordfence. endstream endobj 129 0 obj <>stream Register now to lock in your early bird price. What about all the people that received less than $600? Follow the below process to obtain a tax ID verification letter from the IRS: Call the IRS support at 800-829-4933. The owner of this site is using Wordfence to manage access to their site. However, unless Democrats retain control of both houses of Congress, we expect little in the way of legislation for the next two years. Spidell's California Taxletter is a monthly newsletter plus a searchable online archive of back issues that keeps you ahead of California tax changes so they don't take you by surprise. Guaranteed. Not surprisingly, the bills piled up, and the Wilson's marriage broke down. Level: Update. You can also read the documentation to learn about Wordfence's blocking tools, or visit wordfence.com to learn more about Wordfence. The IRS will also charge you interest until you pay off the balance. If you are an owner in a qualified passthrough entity (S-corporation or Partnership) and incur a personal state tax liability in excess of $10,000 each year, then this bill may allow you to indirectly increase your annual state tax deduction on your personal income tax return, in excess of the $10,000 individual limitation, and as a result, The USPTO has given the SPIDELL'S CALIFORNIA TAXLETTER trademark a serial number of 78390234. Where would it go in a financual statement on GAAP? }|o_Rhsb.nm*Od#z 1 ]-=?kc0%W*]x&tf#o> Always 100% free to join, and This week were covering one of the provisions of the new SECURE 2.0 Act, which deals with 529 plan rollovers to Roth accounts. Recent articles address important issues: Furthermore, we are awaiting a number of regulations dealing with partnerships taxation. If you think you have been blocked in error, contact the owner of this site for assistance. Why does California think its income? hSmk0+>Y %Xf6Z"cNt]91aGpD$1K@G$#ogWW6cANT!e6\42*m4 HabQF{//uI,&L+bD5]62enw5.tH`g&,D>w(6x>?ool7b;]58&@9CbSn}k_LK_|oc>=H_ _U.8Cf_ 6Fn/Z1B w,&LSVWf&]g,0mq8on]T DU2YYxS=EO7 E(TOz[YoOz%Ylt$]P-".5 *EAs will receive a 2-hour federal tax self-study to ensure up to 8 hours of CPE. hbbd```b``:"oHH5d&WC`u`0{ I 6'..X 06$ PO BOX . You may be held personally liable if you are a partner. The PHE has been in place since January 27, 2020, and renewed throughout the pandemic. This course is designed to meet the requirements for 8 hours of continuing education for CPAs; 6 hours of Federal Update for EAs*; 6 hours of Federal Update and 2 CA for CRTPs; and 6.75 hours of General MCLE credit for attorneys. In this context, because need is not defined in terms of financial need, the general welfare exclusion applies equally to all residents of an affected area regardless of their income levels. Still trying to figure out how we are going to deal with this. Absent a definition, it's what the word commonly means. Finally, the CHIPS-plus Act includes over $52 billion for semiconductor facilities plus a 25% tax credit for semiconductor manufacturing. The information provided here is of a general nature and is not intended to address the specific circumstances of any individual or entity. Should Republicans gain control of both the House and the Senate, the Biden administration indicated any tax-related legislation passed would likely be vetoed. See Rev. FOLLOW SPIDELL. I typed in a comment, pointing out flush language in 163 that said opposite of what they were saying. *Discount valid through November 14, 2022. Spidell Publishing, Inc. has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual continuing education requirement imposed by the State of California for CTEC Registered Tax Preparers. Looking for emails or status updates from your e-filing website or software. Taxation; Accounting and Auditing; Ethics =)YyJ Please allow three business days to receive your client letter via e-mail. Your access to this service has been limited. The State Boards of Accountancy have final authority on the acceptance of individual courses for CPE credit. Why is California issuing a 1099? This new rule applies retroactively to 2020. Rul. Example: "401(k)", 2023 Post-Tax Season Update and Review (Various Dates), Spidells Analysis & Explanation of California Taxes 2023 Edition (The Big Blue Answer Book), Spidell's Analysis & Explanation of California Taxes. You can get copies of tax returns from the past 7 years. General tax preparation knowledge is required. vmd6HBNgUa0>)X$F%xuHHiq^ %g~GW-|\RJ*8V 1{` %[.yOJ)SfFI?;u ^. If you are a WordPress user with administrative privileges on this site, please enter your email address in the box below and click "Send". CA 95741-0157. ' Did you know that failing to report all of your income or overstating your For example, Rev. Wordfence is a security plugin installed on over 4 million WordPress sites. *Please allow 2 business days for e-mail delivery of your Tax Planning Client Letter and Checklist and Tips to Prepare Yourself and Your Office for Tax Season. Freer, EA, Thank you for attending and presenting your issues at the December 2021 Taxpayers' Bill of Rights Hearing. Spidell's Federal Tax Minute Spidell This webinar is designed to meet the requirements for the specified number of hours of continuing education for the California Board of Accountancy. That's fine, but one source is more authoritative than the other, and they should alert the class that the instructions are not consistent with the IRC and there might be some thought that needs to be given to the issue. CA has been late in issuing the payments and some were supposed to be mailed out by December 31. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. Message Board. Do you have questions about the different versions of our 2022/23 Federal and California Tax Update courses? We expect any legislation in the lame-duck session to be centered around items with bipartisan support. Spidell seminars have always been a step above. A challenging economy, ever-changing tax rules and rising interest rates make tax and business planning more critical than ever. Dates and locations will be announced soon.
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