Highlights of some of our favorite tax-related blogs from the past week.
- Tax Analysts: Blogger Jeremy Scott looks at the shock waves in the wake of the U.K. decision to say cheerio to the European Union – and the potential lack of tax fallout.
- John R. Dundon II EA: Drilling into IRS Form 1116, used to report foreign tax credits.
- Roth & Co.: “It’s FBAR Week!” says blogger Joe Kristan, with, among the many festivities, reporting foreign financial accounts on Form 114. The filing requirement, Joe adds, “combines a stupidly low filing threshold with absurdly harsh penalties.”
- The Tax Times: Yes, other international doings drove the Panama Papers from headlines recently. That sure doesn’t mean the feds have forgotten the massive info leak as fuel for upcoming prosecutions.
- Don’t Mess With Taxes: The Electronic Tax Administration Advisory Committee recent annual report recommended that the IRS expand its electronic filing efforts and digital strategy in customer services. Too bad that when the ETAAC called with this news the IRS phones were all busy.
- The Wandering Tax Pro: Robert Flach examines House Speaker Paul Ryan’s recent “blueprint for tax reform.”
- A Taxing Matter: “Congressional Republicans have just released their "new" corporate tax proposal. As usual for the GOP, the proposal again calls for steep cuts in the corporate tax rate.” A look at the response from Lloyd Doggett, the Texas Democrat and member of the House Ways and Means Committee “who has fought for fairer corporate tax laws and elimination of the tax dodges used by so many of the hugely profitable multinational corporations.”
- Backtaxeshelp: Advising clients who are about to retire to make time amid golf and grandkids for another feature of the golden years: the taxman.
- IRS Problem Solver Blog: The podcast transcript on “6 Tips to Protect Yourself from IRS Scams and Tax Fraud.”
- Federal Tax Crimes: A look at U.S. v. Biyiklioglu, in which a defendant convicted and sentenced for wire fraud, aggravated ID theft, tax evasion and money laundering raised “several arguments” as to why the whole mess was just terribly unfair.
- Due Diligence: In this week’s collection: “How to Fight the Puppy Killers… and Win”; “AIDS Clinic Kickback Scheme Leads to Jail”; and “Good News for Wisconsin Uber Drivers.”
- Mauled Again: In the ins and outs of Slavin v. Comr, in which taxpayers’ rental properties tanked in the matter of producing “sufficient income.” Or, more simply, “Losing a Tax Deduction When Finances Go Bad.”
- Summing It Up: Do your homework: R&D credits present new opportunities for some manufacturer clients.
- Musings of a Burbank CPA: A look at Tax Mama Eva Rosenberg’s book Deduct Everything, an informative text for “the novice tax preparer to get their income taxes correctly prepared and filed … highly recommend this book to anyone considering preparing their own income tax returns as well as an information source.”
When the weather’s fine
- Rubin on Tax: Applicable Federal Rates for July.
- Solutions for CPA Firm Leaders: The more partners the merrier – and the better for your firm – as conference season kicks off.
- TurboTax: Off the grid, under the radar and before the semester begins: not-always-obvious ways to whittle college costs.
- Tax Vox: Derailed Dept.: The Washington region’s Metro commuter rail system problems with safety, management and funding.
- Tax Girl: As if the quiet nights and the house to you (and your spouse’s self) weren’t enough, here are “12 Tips for Claiming Summer Camp Expenses on Your Taxes.”
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