Highlights from some of our favorite tax bloggers this week, and their various signs of the times.
In with the new
- Taxblawg: Does selling stock to take advantage of 2012 rates -- substantially lower than likely 2013 capital gains rates fall within the scope of Code Sec. 7701(o), “the relatively new economic substance statute codified as part of the landmark Health Care and Education Reconciliation Act of 2010?”
- The Wandering Tax Pro: The year in review, tax-development-wise. Didn’t notice tax forms had been moved from post offices to libraries.
- ClientWhys: Info for preparers regarding contacting the IRS about PTINs. One nugget: If the main 877 number is busy, try dialing in on the international line. The rates may be higher, but we’re coming into the time of year when your time is your money.
- Liberty Tax Blog: It’s still not too late to spend that FSA, as some employers offer 10-week extensions in their deadlines. Grab those Band-Aids and new glasses frames!
- California Tax Attorney Blog: When you give, careful what you receive: A check written in 2012 that does not clear until 2013 is at risk of being a 2013 gift, not a 2012 gift, since the donor could have stopped payment before it cleared.
- Taxable Talk: What time is it, kids? “It’s time once more for that prestigious award, the 2012 Tax Offender of the Year. To be considered for this award you must do more than cheat on your taxes. It has to be special; it really needs to be a Bozo-like action or actions.”
- Our Taxing Times: A year-end thank you and what the blog has meant to Trish McIntire. A heartfelt discussion about starting -- and, more important, maintaining -- your own blog.
- Mauled Again: A tax prep “nightmare” re-awakening, and the common sense involved in dealing with a preparer who’s under any type of professional investigation.
- Rubin on Tax: Hands across the water: Expats have a lot to keep in mind before making U.S. persons recipients of gifts or testamentary transfers.
- Backtaxeshelp: The IRS warning that the AMT change could hit 33 million households.
- Solutions for CPA Firm Leaders: Before your accountants and tax preparers hit the bricks to visit clients for tax season, make sure their hair is combed, their pleats pressed, and that in all other ways they make the representation you want from your practice.
- H&R Block Blog: Being born in the last minute of 2012 is more than a precious gift to your parents and a headline in the local paper -- it’s the last 60 seconds for parents to qualify for the Child Tax Credit of $1,000.