Highlights from some of our favorite tax bloggers this week.
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Well shut me down!
- Our Taxing Times: Extension due dates loom. Of course if the budget debate doesn't evaporate, getting your return processed by the IRS will be trying to get a whiskey in a ghost town's saloon. Nevertheless, a reminder to clients that penalties kick in after Oct. 15.
- Don't Mess With Taxes: What looms in the tax world after the government shutdown. Not to beat a dead, horse-like metaphor, but imagine all the dusty October 15 returns wisping around abandoned IRS offices, like some post-Zombie tax day. Makes you want to look for a saloon.
- Rubin on Tax: The IRS will issue inflation-adjusted transfer tax and foreign reporting items for 2014 based on fiscal year 2013 inflation, but it hasn't done so yet. Can't afford the ink cartridge.
- TaxFactor Blog: "If you're like most people, getting a letter from the IRS is something you dread." Bet it comes postage due. We'll stop now.
- John R. Dundon II EA: A sobering look at cutbacks through the many months at the IRS -- right at a time when some of the biggest tax-related issues in a generation hammered on the service's door.
But the band plays on
- Tax Vox: Down down down sinks a tax code rewrite into "Washington's partisan muck," writes blogger Howard Gleckman. "House Republicans reportedly are considering several ways to add a framework for tax reform to legislation needed to increase the federal government's borrowing authority." Could such a rider increase the chances of reform happening in the near future? Let's just say that muck hole is getting no more shallow lately.
- Tax Maven: Eight limitations of Public Law 86-272 Public Law, which "has become so outdated as to be dangerous." Here are limitations to watch for when advising clients on what constitutes nexus, along with a brief history of the 54-year-old rule to provide multi-state businesses a limited safe harbor from state income taxes.
- Tax Break: The TurboTax Blog: Another take on what the Affordable Care Act means to the client on the street.
- TaxProf Blog: An academic look at the IRS continuing defibrillation of the RTRP campaign "The validity of regulations promulgated by the Department of Treasury is a principal battleground in contemporary federal taxation. So far, the clash has had two phases: establishment and implementation. Phase one entailed the destruction of the citadel of tax insularity, the bastion within which tax specialists thought to keep themselves safe from having to learn and apply general administrative law ... It is now firmly established that tax, no less than other regulatory areas, is subject to the rules of administrative law." What about the dead horses?
- Roth & Co.: Don't Forget About the Davids Dept.: How the tax system needs reforming for small businesses, too.
- Taxable Talk: The saga of Donald Wanland, a "financially successful" attorney near Sacramento, Calif., who earned and filed more than $1.5 million in earnings from 2000 through 2003 and just kind of never did pay the $448,451 in taxes owed. Ah, the good ones start young: Wanland didn't pay all of his taxes in the 1990s either.
- Tax Girl: A mess for footballer Lionel Messi, plus 11 reasons Tax Girl never wants to own a house again.
Still have to make a living
- Clientwhys: How the mortgage industry has changed over the last five years with automation and advanced underwriting burdening the consumer, and how CPA firms and tax accountants responded. Also, how reviews on social media can help or stab your practice.
- The Tax Professional: So long, farewell, auf Wiedersehen, goodbye! Success of this beloved blogger's The Wandering Tax Pro means Mr. Flach can no longer maintain his other online writings, including this one. Fond farewell to a pro of tax who always spoke the plain truth.
- Mauled Again: Philadelphia's trying to deal with public schools in shoaling financial waters thanks to cuts in state funding. A look at the surprising uphill fight as always to convince the world that failing to educate the next generation is a bad investment -- and the equally surprising demand from some young well-to-dos on the matter.