Scacpa's Weekly Federal Tax Update

Lynn Nichols Federal Tax Update Podcast June 12, 2018, edition   Listen as Lynn Nichols provides commentary on 6 Items pertaining to current developments in U.S. tax law. This week’s topics include: OUR PROGRAM THIS WEEK INCLUDES . . . . . .   Standard Mileage Rates Guidance Reflects TCJA Changes The IRS has issued guidance on the optional 2018 standard mileage rates to reflect amendments to sections 67 and 217 made by the Tax Cuts and Jobs Act. [Notice 2018-42; 2018-24 IRB 1; 5/25/2018]   Rollover of Plan Distribution From Estate Is Tax-Free The IRS ruled that a distribution from a decedent’s estate to the surviving spouse will be treated as having come directly from the decedent's retirement plan and that the spouse, who was eligible to roll over the amount to her own IRA, won’t have to include the funds in her gross income. [LTR 201821008, 2/2/2018, rel.5/25/2018     Unclaimed IRAs Handed Over to States Subject to Withholding Interests in a retirement account paid to a state unclaimed property fun