Talking Tax
344 episodes - English - Latest episode: 7 days ago - ★★★★ - 96 ratingsTalking Tax, from Bloomberg Tax, is a weekly discussion of the most pressing issues facing tax and accounting professionals. Each week the podcast features discussions with lawmakers, federal regulators, lawyers, and journalists. From the courts to Capitol Hill to the IRS, Talking Tax has it covered.
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Episodes
Hill Roundtable - Episode 71 - Capitol Hill Gets Involved in Tax Law Implementation
June 11, 2018 22:13 - 9 minutesThis summer is shaping up to be an important one for tax lawyers as they await regulations on some of the new tax law's most complicated provisions. Top Treasury Department officials have said guidance on the law's 20 percent deduction for pass-through businesses could come in early summer and proposed regulations on a one-time tax on companies' accumulated offshore earnings may follow shortly thereafter. House Ways and Means Committee Chairman Kevin Brady (R-Texas), who played a critical...
Talking Tax – Episode 71 – Accountants Roll Up Sleeves to Solve Blockchain Questions
June 01, 2018 19:15 - 21 minutesThe advent of blockchain’s ledger technology brings both opportunities and challenges for accountants. A set of working groups has been tasked this summer to sort through those technical challenges—as many as 200 issues have been identified so far. The groups are expected to make recommendations to the American Institute of CPAs later this year. Accountants' work is expected to change dramatically in the future because of the distributed ledger system. The initiative aims to help accounta...
Hill Roundtable - Episode 70 - Lawmakers Stick To Political Talking Points on Tax Overhaul
May 22, 2018 15:50 - 7 minutesCongress takes a look at IRS funding this week as lawmakers continue to hammer their partisan talking points on the 2017 tax act.
Talking Tax- Episode 70- ABA Tax Section Chair Previews Spring Meeting
May 09, 2018 22:27 - 10 minutesTax professionals will descend on Washington, D.C., May 10 for the American Bar Association tax section's spring meeting. The conference serves as an opportunity for top government officials to address recent developments and get feedback from practitioners on the year's regulatory agenda. A topic on nearly everyone's mind this year is the new tax law enacted at the end of 2017. The tax section's chair, Karen Hawkins, joined Talking Tax host Allyson Versprille to offer a look into what th...
Hill Roundtable- Episode 69- Path Emerges for Tax Law Fixes; Ways and Means Openings
May 01, 2018 14:25 - 7 minutesThe Senate could use Federal Aviation Administration legislation recently passed by the House as a vehicle for technical corrections to the 2017 tax act. The FAA bill (H.R. 4) that advanced April 27 would reauthorize the agency to collect aviation excise taxes and fund its operations with federal money deposited into the Airport and Airway Trust Fund, among other provisions. Programs would be authorized through 2023; the current authorization expires Sept. 30. The legislation now moves to the...
Hill Roundtable- Episode 68- Congress Grapples With Tax Overhaul Leftovers
April 20, 2018 20:21 - 11 minutesCongressional tax writers are aiming to shore up several tax issues—retooling the Internal Revenue Service, dealing with temporary tax provisions, and requiring online retailers to collect sales tax—left out of the 2017 tax act. The House just passed a package of bills that would establish an independent Office of Appeals at the IRS, boost cybersecurity, and update online systems. House Ways and Means Committee members also met to discuss the future of temporary tax credits and deductions, w...
Talking Tax- Episode 67- PwC's Pam Olson Provides Status Update on Tax Law Rules
April 20, 2018 20:17 - 13 minutesThe IRS faces a long list of tasks if it plans to complete all of the items on its priority guidance plan to implement the new tax law. The Internal Revenue Service has highlighted several projects, including the pass-through deduction under tax code Section 199A and new international base erosion measures, to address by June 30, the end of the agency's business year. Pam Olson, the U.S. deputy tax leader and Washington National Tax Services practice leader at PricewaterhouseCoopers LLP, j...
Talking Tax- Episode 66- Wayfair Tax 'Case of Millennium' to Have Far-Flung Impacts
April 19, 2018 19:16 - 21 minutesOn April 17, the U.S. Supreme Court heard oral arguments in the biggest state and local tax case in years. South Dakota v. Wayfair is a direct challenge to the high court’s 1992 ruling in Quill Corp. v. North Dakota, which prohibits states from imposing sales tax collection obligation on vendors lacking an in-state physical presence. The Justices explored a handful of topics during arguments, notably the role of Congress to regular inter-state commerce, the issue of compliance costs faced by...
Talking Tax- Episode 65- What FY Corporations Need To Know About Tax Code Section 15
April 19, 2018 18:03 - 16 minutesFor tax years beginning after December 31, 2017, the corporate tax rate under §11(b) was amended to remove the graduated rates in favor of a flat 21%. Additionally, for tax years beginning after December 31, 2017, §55(a) was amended, repealing the corporate alternative minimum tax. This led to questions regarding the applicable tax rates for a corporation whose tax year began before January 1, 2018 but after December 31, 2017. George Manousos and Jason Black of PricewaterhouseCoopers LLP’s Fe...
Hill Roundtable Episode 64 -Congress Wraps Up Tax-Focused Week
April 13, 2018 21:38 - 9 minutesHouse and Senate committees held several tax-focused events this week ahead of the April 17 tax filing deadline. Top Treasury Department, Internal Revenue Service, and Office of Information and Regulatory Affairs officials testified before lawmakers about the status of the 2018 IRS filing season and the process for reviewing and releasing tax regulations. OIRA and Treasury announced a deal that would allow the White House to review major tax rules before they are made public. The House Way...
Talking Tax- Episode 63- What Cryptocurrency Investors Need to Know for Tax Season
April 11, 2018 18:17 - 20 minutesLisa Zarlenga of Steptoe & Johnson, LLP, joins Talking Tax with host Andrea L. Ben-Yosef to discuss what tax advisors need to know about cryptocurreny. She discusses what cryptocurrency investors need to do as they file their returns, ICOs and airdrops and how they are taxed, and the impact of tax reform on cryptocurrency issues.
Talking Tax- Episode 62- More Answers to Come on Interest Deduction Limitation
April 06, 2018 22:01 - 14 minutesNew guidance on a tax law change limiting interest deductibility tells taxpayers that the IRS is making progress in helping businesses deal with the change, but some of the more challenging issues have yet to be broached. Tony Nitti, a tax partner at WithumSmith+Brown PC in Aspen, Colo., joins Talking Tax host Allyson Versprille to discuss the guidance—Notice 2018-28—and what it means for businesses. The amended tax code Section 163(j) limits the business interest deduction to 30 percent...
Talking Tax- Episode 61- Tax Cases at the Supreme Court
March 23, 2018 14:44 - 16 minutesIt's not every day the U.S. Supreme Court agrees to take on a tax case. The Supreme Court on March 21 decided a major tax case dealing with the obstruction of an IRS investigation when it ruled in Marinello v. United States that the Internal Revenue Service can only convict a taxpayer on obstruction charges when it can prove the taxpayer was aware of a pending tax-related proceeding, such as an investigation or audit, or that the taxpayer could "reasonably foresee that such a proceeding would...
Hill Roundtable- Episode 60- Omnibus Bill Could Include Tax Law Technical Fixes
March 19, 2018 19:18 - 9 minutesThe House plans to vote this week on the omnibus spending bill that will likely include a tax change for agriculture cooperatives. In addition to the provision that rebalances the tax treatment of agriculture cooperatives and corporate grain buyers, some GOP lawmakers are also looking to include technical fixes to some drafting errors in the tax law. The negotiations were ongoing as of late March 16. Reporters Laura Davison, Allyson Versprille, and Kaustuv Basu spoke with Talking Tax host M...
Talking Tax- Episode 59- Federal Tax Implications of Crowdfunding
February 15, 2018 16:16 - 23 minutesProfessor Charlene Luke, University of Florida Research Foundation Professor at the Levin College of Law, joins Talking Tax host Andrea Ben-Yosef to discuss the federal tax implications of crowdfunding. Professor Luke describes the different types of crowdfunding, reviews current IRS guidance, discusses the tax provisions--including those in the 2017 tax act—that apply to crowdfunding, and ends with suggestions as to how the IRS can help in this area. For more information, please see her ...
Talking Tax- Episode 58- Takeaways From the Recent ABA Tax Section Meeting
February 12, 2018 23:27 - 8 minutesThe American Bar Association Section of Taxation meeting in San Diego this month was all about how IRS and Treasury officials view the new tax law. The tax reform bill becoming law is only the first step: the Internal Revenue Service and Treasury Department will be providing guidance on the statute's provisions for years to come. During the meeting, Bloomberg Tax reporters spoke with government officials about how they plan to prioritize regulations as they implement changes to complex area...
Talking Tax - Episode 57- Differences in Pass-through, C Corporation Taxation
January 29, 2018 21:31 - 18 minutesThe new tax law lowers the corporate tax rate to 21 percent—a change that some lawmakers have suggested could prompt pass-through entities to convert to C corporations. Michael D'Addio, a principal in the New Haven, Conn., office of Marcum LLP who specializes in federal and state taxation, joins Talking Tax host Allyson Versprille to discuss the possibility of a mass conversion as a result of the different treatment of pass-throughs and C corporations. Under the new law, pass-through owne...
Hill Roundtable- Episode 56- Federal Tax Priorities for the Coming Year
January 22, 2018 22:52 - 12 minutesCongress now has a host of smaller tax issues to contend with after passing legislation overhauling many aspects of the Internal Revenue Code. The Republican-led House Ways and Means and Senate Finance committees are looking at ways to make corrections to, and address issues omitted from, the new tax law (Pub. L. No. 115-97). Tax writers will consider overhauling the Internal Revenue Service, streamlining tax-favored savings accounts for education and retirement, and passing legislation to e...
Talking Tax - Episode 55 - Bloomberg Tax Advisory Board Members Dissect New Tax Law
January 18, 2018 23:56 - 27 minutesThe new tax law made extensive changes to the U.S. tax code, setting up a massive need for stakeholders to understand the law's complexities and possibly rethink their tax plans. Bloomberg Tax reporters Sony Kassam and Laura Davison and news editor Colleen Murphy spoke with a group of tax practitioners, members of the Bloomberg Tax advisory board, about the tax act's (Pub. L. No. 115-97) effects over the next year and beyond on federal, state, and international tax issues. This episode's ...
Talking Tax- Episode 54- The European Union and the Digital Economy
January 10, 2018 17:20 - 27 minutesGary D. Sprague of Baker McKenzie joins Talking Tax with host Dolores Gregory for a discussion of the EU’s efforts to tax the “digital economy.” Gary is a regular contributor to the TM International Journal. In a recent column, he raised concerns about an EU proposal to adopt special rules for taxing companies that engage in business online – one creating a ‘digital’ permanent establishment and the other imposing a special levy on specific transactions – both of which represent a retrea...
Hill Roundtable- Episode 53- Getting into the Weeds of the New Tax Law
January 02, 2018 23:07 - 10 minutesThe Internal Revenue Service and Treasury Department are gearing up to implement the new tax law, a significant undertaking that will be their focus for 2018. At the same time, lawmakers will likely face the need to change some parts of the law as drafting errors and unintended consequences emerge. Republicans in Congress have already said they plan a technical corrections bill to clean up aspects of the tax changes. They may have to work with Democrats if they want to do anything more sweep...
Talking Tax- Episode 52- Bitcoin: Investment and Trading Tax Issues
December 21, 2017 18:03 - 25 minutesJim Calvin, of Deloitte LLP, joins Talking Tax with host Andrea L. Ben-Yosef to discuss bitcoin and how to view it from a tax perspective. Calvin explains how bitcoin works; addresses the most common questions he gets from clients about issues such as classification, wash sale and short sale rules, and how to determine which bitcoin has been sold; and discusses the new futures market in bitcoin from an investor and trader tax perspective.
Talking Tax- Episode 51- Deloitte Talks Major Shifts in International Tax Policy
December 20, 2017 19:05 - 14 minutesThe GOP's final tax bill includes significant changes in international tax policy. Jon Traub, managing principal for tax policy at Deloitte Tax LLP, and Chris Trump, a principal at Deloitte Tax who specializes in international taxation, join Talking Tax host Allyson Versprille to discuss the changes and how they will impact multinational companies. Traub is a former House Ways and Means Committee staff director and minority chief tax counsel. Before joining Deloitte Tax, Trump—no relatio...
Talking Tax- Episode 50- AMT Survival and Pass-Through Provisions: EY Talks Tax Reform
December 11, 2017 15:21 - 32 minutesLawmakers will need to hash out final details on the individual side of the tax code if they want to meet their end-of-the-year deadline to pass tax reform legislation. Ernst & Young LLP's U.S. tax reform leader Justin Shafer co-hosts an episode of Talking Tax with Bloomberg Tax reporter Allyson Versprille. They are joined in discussing the individual aspects of the House and Senate tax bills by David Kirk and Elda Di Re, both partners in the Private Client Services practice within EY’s Nat...
Talking Tax- Episode 49- A Tax Reform Discussion Featuring KPMG
December 06, 2017 21:19 - 10 minutesCongress is getting closer to enacting major tax legislation by the end of the year, but first the House and the Senate will have to reconcile key differences in their bills—a task that could prove difficult. John Gimigliano, principal in charge of the Federal Legislative and Regulatory Services group in KPMG LLP's Washington National Tax practice, joins Talking Tax host Allyson Versprille to discuss the disparities between the two proposals and the implications for the tax reform process. ...
Hill Roundtable- Episode 48- Negotiations Begin After Senate Clears Bill
December 04, 2017 22:22 - 6 minutesHouse and Senate lawmakers will begin to reconcile their tax plans this week with the hope of getting a bill to President Donald Trump before the end of the year. The House and Senate bills are now more closely aligned in how they approach deemed repatriation rates and deductions for state and local property taxes. But there are still some significant differences, including pass-through taxation and a Senate amendment that would retain the alternative minimum tax for corporations and indivi...
Talking Tax- Episode 47- The Interplay of Multiple Agency Guidance on Wellness Programs
November 22, 2017 17:41 - 24 minutesEmployers often offer wellness programs to promote employee health and reduce medical costs. Alan Tawshunsky of the Tawshunsky Law Firm PLLC in Washington sits down with Talking Tax host Andrea Ben-Yosef, an acquisitions manager with Bloomberg Tax's Tax Management journals, to discuss how to navigate the complex interaction of rules from the IRS and EEOC on provisions of the Affordable Care Act, Americans With Disabilities Act, and the Genetic Information Nondiscrimination Act to make sure t...
Hill Roundtable- Episode 46- Tax Reform Still Possible by End of Year
November 21, 2017 20:59 - 7 minutesRepublicans in Congress will have to navigate through tricky procedural, political, and policy hurdles to push through tax reform by year's end. Reporter Laura Davison spoke with Talking Tax host Matthew Beddingfield on Nov. 21 about the GOP's chances for successfully passing the tax plan and what difficulties lie ahead.
Talking Tax- Episode 45- A Tax Reform Discussion Featuring Dave Camp
November 15, 2017 18:53 - 10 minutesDave Camp, former chairman of the House Ways and Means Committee and now a senior policy adviser for PricewaterhouseCoopers, joins Talking Tax host Allyson Versprille to discuss how he sees the legislative process playing out for the GOP's tax plan. This episode of Talking Tax was recorded the morning of Nov. 15. Matters involving the Senate and House tax proposals are subject to change.
Talking Tax- Episode 44- A Tax Reform Discussion Featuring EY, Part 2
November 14, 2017 21:47 - 26 minutesThe Senate tax plan released Nov. 9 and amendments to the House bill (H.R. 1) bring new considerations for tax professionals as Republicans press forward with tax reform efforts. Bloomberg Tax reporter Allyson Versprille hosts this week’s Talking Tax alongside Justin Shafer, a partner and U.S. tax reform leader at Ernst & Young LLP, to discuss what practitioners should look for in the proposal, including revenue considerations, how the plan differs from the House bill, and what could come n...
Talking Tax- Episode 43- Navigating the New Partnership Audit Rules
November 07, 2017 21:17 - 29 minutesLisa Starczewski, of Buchanan Ingersoll & Rooney PC, joins Talking Tax with host Andrea Ben-Yosef to give an overview of the new partnership audit rules and proposed regulations. Starczewski highlights some of the more important aspects of the new partnership audit rules and proposed regulations, points out where the regulations have added new concepts to the rules, alerts practitioners to issues they may have missed, and advises on what practitioners need to do now, especially regarding am...
Talking Tax- Episode 42- A Tax Reform Discussion Featuring EY
November 03, 2017 17:35 - 21 minutesThe Tax Cuts and Jobs Act (H.R. 1) is here, and with it come several considerations for practitioners if the GOP tax reform effort is successful. Bloomberg Tax's Matthew Beddingfield hosts this week's Talking Tax alongside EY's U.S. Tax Reform Leader Justin Shafer, to discuss what practitioners should look out for in the new bill, including revenue considerations, international impact, and what's to come in the legislative process. EY tax policy experts Michael Mundaca, Jose Murillo, and Ca...
Hill Roundtable- Episode 41- Path to Tax Reform Continues, GOP Bill Coming Next Week
October 27, 2017 21:45 - 5 minutesCongressional Republicans expect to release a tax bill Nov. 1, and House leaders say they want to hold a vote by Thanksgiving. Reporters Colleen Murphy, Kaustuv Basu, and Laura Davison spoke with Talking Tax host Matthew Beddingfield on Oct. 27 about the process once the GOP bill is released, and what the proposed legislation might include.
Hill Roundtable- Episode 40- Budget Passage Paves Way for GOP Tax Reform Bill
October 20, 2017 22:15 - 6 minutesThe Senate has passed a budget that opens the door for Republicans to move forward with their tax plan, possibly in the coming week. Reporters Colleen Murphy, Kaustuv Basu, and Laura Davison spoke with Talking Tax host Matthew Beddingfield on Oct. 20 about GOP tax reform efforts, including what aspects of a tax bill have yet to be agreed on.
Hill Roundtable- Episode 39- Budget Is Must-Do Before GOP Tax Plan Moves Forward
October 13, 2017 20:04 - 7 minutesThe Senate still needs to pass a budget that includes reconciliation instructions before Republicans can move forward with their tax plan in the next few weeks. Reporters Colleen Murphy and Laura Davison spoke with Talking Tax host Matthew Beddingfield about GOP tax reform efforts, including how to raise revenue and finalize policy details that include state and local deductions.
Hill Roundtable- Episode 38- : Tax Framework Moves GOP Reform Efforts Forward
September 29, 2017 22:04 - 7 minutesThe GOP tax reform framework was released Sept. 27, but questions remain about how the plan will be paid for. Reporters Colleen Murphy and Laura Davison spoke with Talking Tax host Matthew Beddingfield about the plan, and the time crunch the party faces to pass a federal budget and tax bill.
Hill Roundtable- Episode 37- GOP Hopeful Tax Plan Details Will Drive Reform Efforts
September 18, 2017 21:44 - 7 minutesHouse Ways and Means Committee Chairman Kevin Brady (R-Texas) said details of the GOP's new tax reform plan will be revealed the week of Sept. 25. Reporters Colleen Murphy and Laura Davison spoke with Talking Tax host Matthew Beddingfield about the Republicans' efforts to come together on a unified tax plan while also working to pass a federal budget.
Hill Roundtable- Episode 36- Midterm Election Deadline Looms Over Tax Reform Efforts
September 11, 2017 22:01 - 7 minutesHouse Ways and Means Committee Chairman Kevin Brady (R-Texas) and House Speaker Paul D. Ryan (R-Wis.)are confident that tax reform will be passed this year. Reporters Colleen Murphy and Laura Davison spoke with Talking Tax host Matthew Beddingfield about the GOP's time crunch for implementing its new tax plan and what needs to be accomplished before midterm elections.
Hill Roundtable- Episode 35- GOP Takes Tax Reform Campaign on the Road
August 25, 2017 20:35 - 5 minutesHouse Speaker Paul D. Ryan (R-Wis.) and House Ways and Means Committee Chairman Kevin Brady (R-Texas) are taking their pitch for tax reform across the country. Reporter Kaustuv Basu spoke with Talking Tax host Matthew Beddingfield about the GOP campaign to promote the lawmakers' tax ideas, and what President Donald Trump will be doing to lend a hand.
Portfolio Podcast- The Minefields of Estate Planning and Carried Interest
August 17, 2017 22:00 - 20 minutesNavigating the complexities of estate planning with carried interest can quickly become a daunting task. N. Todd Angkatavanich, David A. Stein, and Andrew Haave of Withers Bergman LLP authored a Bloomberg BNA portfolio on the topic that walks readers through this complex area of wealth planning. Reporter Allyson Versprille spoke with Angkatavanich and Stein about what practitioners need to know when it comes to navigating carried interest planning under tax code Section 2701, avoiding pitfa...
Hill Roundtable- Episode 33- Looking Ahead to Post-Recess Tax Reform Action
August 07, 2017 21:12 - 6 minutesSenate Finance Committee Chairman Orrin G. Hatch (R-Utah) says Republicans will "hit the rich" in tax reform. Reporters Kaustuv Basu and Colleen Murphy spoke with Talking Tax host Matthew Beddingfield about the GOP's tax reform efforts as Congress is out for summer recess.
Tax & Accounting Podcast- Episode 32- GOP Plans Next Move After Health Care Bill Collapse
July 31, 2017 20:05 - 6 minutesSenate Republicans failed to repeal the Affordable Care Act last week, but efforts to pass health care legislation may not be over yet. Reporters Laura Davison, Kaustuv Basu, and Colleen Murphy spoke with Talking Tax host Matthew Beddingfield about the recent health care vote and what the GOP is doing to move forward on both health care and tax reform.
Tax & Accounting Podcast- Episode 31- House Budget Faces Challenges Out of the Gate
July 21, 2017 20:06 - 8 minutesThe House fiscal year 2018 budget resolution, which is the key to the GOP's full tax reform package, is facing difficulties as moderate and conservative Republicans have already attacked the measure. Reporters Laura Davison and Colleen Murphy spoke with Talking Tax host Matthew Beddingfield about the challenges Republicans face in passing the budget as they prepare for August.
Tax & Accounting Podcast- Episode 26- Draft Health Care Bill Faces Compromises Before Vote
June 23, 2017 21:56 - 8 minutesThe Senate is likely to vote the week of June 26 on a draft health care bill that would repeal the Affordable Care Act's taxes. Senate Republicans are working to compromise on various aspects of the legislation. Reporters Laura Davison and Colleen Murphy, along with reporting intern Jason Mast, sit down with Talking Tax host Matthew Beddingfield to discuss the GOP's ongoing health care efforts, as well as a mobile workforce bill (H.R. 1393) that would restrict states’ ability to tax nonres...