Kaye Thomas emailed me with an observation regarding one issue in the new law.  It turns out that though prior drafts of the bill and the Joint Committee's report on the bill indicated expanding the general rule on the Kiddie Tax one more year, that provision is not included in the final bill.  Rather, only the "student" provision is added to the bill.

The materials have now been updated, and can be downloaded from the original link at http://edzollars.com/2007-05-25_New_Law.pdf .

The new Congress has passed its first major tax bill with changes that are meant to grant relief to small businesses, but which also have revenue raisers that will impact a number of clients.  The President has indicated he will sign the bill, so over the Memorial Day weekend we can all read up on the new law to start our summer.

The materials are available for download at http://edzollars.com/2007-05-25_New_Law.pdf .

The podcast is sponsored by Leimberg Information Services, located on the web at http://www.leimbergservices.com .

We look at the recent case of Pediatric Affililates, P.A., (2007-1 USTC ¶50,477) where the Third Circuit Court of Appeals upheld the U.S. District Court of New Jersey's determination that the taxpayers were liable for unpaid payroll taxes that their payroll service had walked off with.  The case is instructive for the types of responsibilities under the tax law a taxpayer is unable to delegate to a third party.

The materials can be downloaded at www.edzollars.com/2007-05-18_Payroll_taxes.pdf .

The podcast is sponsored by Leimberg Information Services, located on the web at www.leimbergservices.com .

This week we look at Proposed Regulations under Section 152 to clarify the treatment of divorced parents, regulations that would both serve to document what has developed under the current temporary regulations and case law and add some new quirks-including the ability to revoke a waiver that was to apply to a future year by the custodial parent.

The materials for the podcast can be found at http://www.edzollars.com/2007-05-08_Dependent.pdf . 

And that noise you hear jingling in the beginning of the podcast is my cat deciding to walk in the room at the beginning of the podcast and the tags on his collar.

The podcast is sponsored by Leimberg Information Services, located on the web at http://www.leimbergservices.com .