Novogradac & Company Llp

This week's podcast will feature two topics. First, we're going to bring you an update on guidance from the IRS on its new tax preparer penalty rules. Second, we're going to discuss the significance of a change to Section 470 that was included in a technical corrections measure signed into law by President Bush late last month. Section 470 limits the ability of taxpayers to deduct losses allocable to property used by governments or other tax-exempt entities.