Scacpa's Weekly Federal Tax Update

Lynn Nichols Federal Tax Update Podcast May, 03 2019, Episode 39 Listen as Lynn Nichols provides commentary on 4 Items pertaining to current developments in U.S. tax law. IRS Official: Good Recordkeeping Protects Against Bad Clients Documentation can save practitioners whose clients ignore their advice and apply for tax-exempt status, even when they know they don’t qualify, according to an IRS Office of Professional Responsibility official. [Tax Notes Today; 4/29/2019, Article by Kristen Parillo]   IRS Grants Tax Exemption to Massachusetts-Based Satanic Temple   The Satanic Temple, a self-described nontheistic religious satanic organization based in Massachusetts, has been recognized as a church and granted tax-exempt status by the IRS. [Tax Notes Today; 4/29/2019, Article by Paige Jones]   Tenth Circuit Affirms Liability for Penalty for Overvaluing Easement The Tenth Circuit affirmed a Tax Court decision that held a couple liable for a gross valuation misstatement penalty for overstating the value o