Current Federal Tax Developments

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2019-05-20 Schedule D Problem

Current Federal Tax Developments for the week of May 20, 2019: Schedule D Problem

  • Review Wolters Kluwer IRS response and other issues

  • IRS releases a new worksheet for computing tax when there are 25% or 28% gains

  • Tax Court finds IRS did not have authority to find Medicare difficulty payments nontaxable in Notice 2014-7

  • CA10 agrees with Tax Court that S corporation cannot accrue wages on participants

  • Taxpayer materially participated in activity under facts and circumstances test

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2019-05-20 Schedule D Problem Ed Zollars, CPA (Kaplan Financial Education)

The PDF below contains the articles for the developments discussed in this week’s broadcast.

2019-05-20 Current Federal Tax Developments