Features

In our December CALT Brief, we have lots to discuss: a review of key 2017 agricultural law & taxation developments, new tax law, new educational opportunities, and much more! Thanks to all for your support in 2017. We look forward to serving you in 2018!

On October 3, 2016, the Appeals division of IRS implemented changes to its case transfer and conference procedures. The agency issued a fact sheet to explain the changes. Anyone handling a taxpayer appeal should review the new guidance.

IRS has made it a lot easier for taxpayers and plan administrators to deal with the all-too-common missed 60-day IRA rollover window. In IRS Rev. Proc. 2016-47, IRS simplifies the waiver process and eliminates the need for a private letter ruling.

IRS has acquiesced in a 9th Cir decision allowing unmarried people to each deduct the limit of qualified residence interest. So, unmarried taxpayers can deduct interest paid on a $2M home purchase, while married taxpayers are limited to interest for $1M.

It is that time of year again. The Form 2290, Heavy Highway Vehicle Use Tax, for the July 2016 to June 2017 tax period, filing season is just beginning. And IRS is encouraging all taxpayers to take advantage of the e-filing option.

IRS recently released guidelines on how wrongfully-incarcerated taxpayers can take advantage of the new retroactive exclusion from income for any civil damages, restitution or other monetary award received in connection with their incarceration.

Injured spouse applications are commonly filed to protect a spouse from another spouse’s debt. The debt can be for enforceable past-due federal tax, state income tax, state unemployment compensation debts, child or spousal support...

Beginning January of 2017, IRS will begin to provide notification to individuals whose social security numbers have been used for employment purposes by a third-party.

IRS recently issued T.D. 9766, temporary regulations effective the later of August 1, 2016 or the first day of the latest starting plan year following May 4, 2016, to clarify the treatment of partners in a partnership that owns...

Section 6325(a) of the Internal Revenue Code directs IRS to release a Federal tax lien within 30 days of when the liability is fully paid or becomes legally unenforceable or the IRS accepts a bond for payment of the liability.

SB 106, signed into law on March 22, 2016, requires remote sellers with no physical location in South Dakota to remit sales tax and follow all procedures of the law.

A recent case reaffirmed that Form 8332, Release/Revocation of Release of Claim to Exemption for Child by Custodial Parent must be present to claim a child as a dependent.

The changes to social security benefits effective May 1, 2016, are scary, or at least that is what most of the internet articles would have you believe. In the overall scheme of social security benefits, the changes merely balance the playing field...

We've discovered there is some confusion out there regarding who pays self-employment tax on CRP income. Remember, Congress has excluded all CRP payments from self-employment tax for individuals receiving social security benefits.

IRS has announced that it will launch a new online taxpayer account system in late April. It also plans to put "Get a Transcript" back online soon after a long hiatus. While this online access is helpful, taxpayers are right to worry about identity theft.

They are frequent inconveniences during tax filing system. Many times they are straightforward and clear. But sometimes IRS Notices and Letters just make no sense. Read Kristy's helpful overview of understanding the IRS Letter and Notice process.

Governor Branstad signed HF 2433 into law on March 21. This is full coupling with federal tax provisions for 2015 (with the exception of bonus depreciation). This includes a $500,000 enhanced Section 179 deduction. This coupling is for one year only.

On December 28, 2015, IRS extended the deadlines for employers required to file Forms 1095-B and 1095-C. This means individual taxpayers may not receive their coverage information forms until after they file their returns. Check out our summary chart.

Affordable Care Act, Repair Regulations, Farm Income A-Z, HSAs, the list goes on of the webinars we're offering this fall. And, if you miss a live webinar, catch the replay on TaxPlace. We're still offering a one-year subscription for just $150.

It's been a busy month. Read our latest newsletter detailing some of the significant events impacting agricultural and tax law. Included is an overview of the ag exemption in workers comp and highlights of recent clean water litigation.

Following the February 18 repair regulations webinar, a number of questions were asked regarding the new repair regulations. Roger McEowen and Paul Neiffer collaborated to provide answers to 109 questions in this comprehensive document.

IRS and CMS reported on Feb. 20, 2015, that about 20% of issued 1095-A's were incorrect. Taxpayers who received them are being contacted and will receive new forms in March. They are to wait to file. If already filed? Further guidance from IRS to come!

In the wake of CoOportunity's collapse, IRS has issued Notice 2015-08 stating that small Iowa employers who offer plans that would have qualified for the small business tax credit prior to 2014 can take credit in 2015 if they are without SHOP option.

At the end of October, the IRS and the Social Security Administration issued several important updates for 2015. Included in these updates are 401(k) and IRA contribution limits, the wage base for social security, and more.

The Eighth Circuit Court of Appeals has reversed the tax court's opinion in Morehouse v. Commissioner and has ruled that CRP payments to non-farmers are rents from real estate, not subject to self employment tax. Read our analysis on the CALT website.