Scacpa's Weekly Federal Tax Update

Lynn Nichols Federal Tax Update Podcast February, 06 2019, Episode 31 Listen as Lynn Nichols provides commentary on 3 Items pertaining to current developments in U.S. tax law. This week’s topics include: S Corporation Denied Deduction for Energy Efficient Buildings A U.S. district court granted the government summary judgment in a suit seeking the return of erroneous refunds it made to a couple, finding that their electrical contracting S corporation wasn’t entitled to deductions under section 179D for energy efficient commercial building property because the buildings were not placed in service in the year they claimed. [United States v. Dennis F. Quebe et ux.; No. 3:15-cv-00294, 1/25/2019]   Fifth Circuit Vacates Late-Filing Penalty Decision for Government The Fifth Circuit vacated a district court decision that held that a couple’s reliance on their accountant to e-file their return didn’t provide reasonable cause for their late filing and granted the government summary judgment, finding that there i