Weekly podcast 12 dealing with children of divorced parents. A recent Tax Court Summary Opinion (Oman v. Commissioner, TC Summary Opinion 2005-110) potentially sheds some new light on the rule under the law in effect prior to 2005 about the dependency exemption for the noncustodial parent. The matter at hand is what happens if the divorce decree clearly provides that the noncustodial spouse should be given the exemption, but a proper Form 8332 isn�t filed with the return. The answer in this case may surprise some practitioners who have followed other cases through the Tax Court.

As well, the podcast discusses the importance of the changes made to Section 152 by last year�s tax law changes.

There are written materials you should download by clicking this link to look over while listening to the podcast.

Weekly podcast 11, dealing with the solar energy provisions of the Energy Tax Incentives Act of 2005 and the related credits available under Arizona income tax law.

The Podcast Materials for this podcast are available for download at http://ezollars.libsyn.com.

The Phoenix Tax Workshop is also now accepting memberships for next year’s programs. The cost for a one year membership is $260 for the first member of a firm, with discounts available for additional members from the same firm that are described on the websites. The dates of programs for the 2005-2006 are also now on the calendar on the organization’s website.

Arizona Tax Update podcast report on the Arizona Society of CPAs Arizona Tax Liaison Committee luncheon today at the Phoenix Doubletree Guest Suites at the Gateway Center (44^th Street & Van Buren).

Today’s presentation primarily dealt with legislative changes outside of the income tax, and the Arizona Department of Revenue’s current audit program related to purchases of furniture from a single out of state vendor in North Carolina.

Podcast 10, produced and uploaded on a MacIntosh mini just for something different to do. This is the first of what I hope will be a set of three podcasts dealing with the Energy Bill that President Bush signed into law on Monday.

Download the materials for this presentation from the http://ezollars.libsyn.com website, or simply go to http://www.edzollarstaxupdate.com.

Also discussed briefly on this podcast is some informaton on how I recorded it using Audacity on the MacIntosh (or the virtually identical Windows version). I also mention an interesting Internet streaming radio station, www.radiofreephoenix.com. If you grew up in Phoenix in the 1960s and 1970s and remember listening to KCAC, the original KDKB, Mike Condello and know who Comptom Terrace was named in memory of, it's an interesting listen. Maybe even if you don't know what any of that refers to as well...

A general update on tax developments this week, including a summary on two new tax bills, two revenue rulings that were published, and a discussion of the IRS announcement of National Research Project exams for S corporations for 2003 and 2004.

The materials should be downloaded from the ezollars.libsyn.com website to follow along with on the FICA presentation.