Headlines are swirling after several tax-related developments in Washington at the end of 2019. Join guests Ed Karl, vice president of taxation at the American Institute of CPAs (AICPA), Dan Smith, Lynn Mayabb and host Damien Martin, as they discuss the tax-related provisions of the Further Consolidated Appropriations Act, 2020 (Act), share what these modifications could mean for individuals and businesses and provide an inside look at what Ed and the AICPA are focusing on in the year ahead. Here’s what’s covered in our first episode of 2020:
The latest in tax legislation with Ed Karl
- Ed’s reaction to the Act, its contents and how the Act came to be @2:22
- Are changes needed to the disaster relief provisions? @4:12
- It’s hard to justify the use of temporary provisions @8:13
Changes for Qualified Plans with Dan Smith
- Dan’s experience with qualified plans and the history of 401(k)s @12:28
- The genesis of the SECURE Act’s provisions within the Act @16:15
- Modifications to pooled employer plans and what they mean for smaller companies @19:50
- “There’s a lot in there!” @26:59
- The remedial amendment period @28:38
- Other changes in the Act for qualified plans @31:58
- The most common error with qualified plans and things to watch for @49:23
- Closing thoughts from Dan @53:39
Individual Considerations After the Act with Lynn Mayabb
- How to approach the updates for individuals @56:36
- The two biggest changes and potential action needed by individuals @58:06
- Roth IRAs after the latest developments under the Act @1:04:57
- There’s no one-size-fits-all answer @1:05:57
- Taking a collaborative and holistic approach @1:11:14
- Other changes for individuals in the Act @1:12:21
- Key considerations and actions to take now @1:16:00
Other Developments & the Year Ahead with Ed Karl
- Recent guidance—and the need for it @1:17:37
- What are Ed and the AICPA watching and working on in 2020? @1:20:39
- The latest developments with the taxation of the digitalized economy @1:24:26
- Tax proposals and the AICPA’s response @1:29:27
- Amending returns after the Act @1:31:39
Learn more about our guests and get additional resources here.
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