Scacpa's Weekly Federal Tax Update

Lynn Nichols Federal Tax Update Podcast July 23, 2018, edition   We are back after a short hiatus! Listen as Lynn Nichols provides commentary on 8 Items pertaining to current developments in U.S. tax law. This week’s topics include: How to Decide Whether an S Corp Is a Corporation In news analysis, Marie Sapirie discusses whether Treasury has the authority to say that an S corporation isn’t a corporation for purposes of the carried interest provision in the Tax Cuts and Jobs Act. [Tax Notes Today; 7/16/2018, Article by Marie Sapirie      IRS to Issue Regs on Suspension of Miscellaneous Itemized Deductions The IRS has announced its intention to issue regulations clarifying how newly enacted section 67(g), which eliminates miscellaneous itemized deductions for tax years beginning after December 31, 2017, and before January 1, 2026, affects the deductibility of some expenses that are incurred by estates and non-grantor trusts. [Notice 2018-61; 2018-31 IRB 1; 7/13/2018]      IRS Drops Donor Disclosure Req