Scacpa's Weekly Federal Tax Update

Lynn Nichols Federal Tax Update Podcast August 20, 2018, edition Listen as Lynn Nichols provides commentary on 8 Items pertaining to current developments in U.S. tax law. This week’s topics include: Final Regs Provide Substantiation Rules for Charitable Contributions The IRS has issued final regulations on the substantiation and reporting rules for charitable contributions at various monetary thresholds and for donated clothing and household items. The final regs also address the new definitions of qualified appraisal and qualified appraiser for noncash contributions and recordkeeping requirements for all cash contributions. [T.D. 9836; 7/27/2018]    Tax Court Correctly Dismissed Employment Tax Liability Challenge The Eighth Circuit held that the Tax Court properly dismissed on jurisdictional grounds an attorney’s claim that he did not owe additional employment tax on payments he received as the sole owner and officer of an S corporation, finding that because there was no actual controversy involving a