Highlights of some of our favorite tax-related blogs from the past week.

Are you ready for the 8th?

  • Backtaxeshelp: Our favorite opening of the week: “Are you ready for this election to finally be over?” As the insult to our intelligence drags into its final hours, a last look at each candidate’s tax plans and the implications therein.
  • Bloomberg BNA Software: Trump’s use of net operating losses. Note: “Despite the estimated $200 billion in NOL assets sitting on the books of Fortune 1000 companies, many of these organizations do not fully leverage NOLs.”
  • The Wandering Tax Pro: Missing e-mails. Claims of innocence. More missing e-mails, officials shrugging shoulders or at times just absent amid angry and questioning voices. How were we so blind? Thing is, blogger Robert Flach isn’t talking about Clinton...
  • Tax Analysts: When Democrats use taxes to destroy monopolies – and the long, long heritage therein, all the way back to a 1930s Texas representative.

Reasoned necessity

  • John R. Dundon II EA: Too often year-end tax planning involves helping clients scramble to shift money and assets around before the sand runs out of the calendar. One more assertive step: Plan charitable donations to make next year.
  • BNA blogs: Some immediate history behind the International Accounting Standards Board displaying (“out of savvy civility and reasoned necessity?”) more deference toward other national rule makers worldwide.
  • Due Diligence: In this week’s collection: “CFPB to Examine Discriminatory Lending Practices”; “From Shadow Branches to Shadow Banks”; “Feds Investigate BoA, Chase, Citi, Others”; and “Wells Fargo Employee? Denied Overtime? Now Is the Time.”
  • Roth & Co.: With a nod to the spooky holiday just gone by, how one Kansas man got five years for dressing up as an IRS rep to bully former girlfriends and business partners.
  • Procedurally Taxing: Lewis v. IRS shows a real “number of procedural gears in motion.” Focus of the case: the impact of the release of the federal tax lien. But much more overflows here, from water lines to bankruptcy to a lack of time to file a return. Quite a read; make some popcorn first.

What a pain

  • H&R Block: This Will Hurt a Bit Dept.: A look at medical ID theft, featuring one of our favorite phrases of the week (“breadcrumbs for fraudsters”) as it relates to health-care records or accounts.
  • Federal Tax Crimes: Smoking is bad for you: In United States v. Armstrong, a defendant was charged with tax evasion, tax perjury and a host of other black spots – all related to profits from a scheme to evade Tennessee cigarette tax stamps.
  • IRS Tax Trouble: Partita Partners, LLC. v. United States shows that not all donations are created equal, especially if one of them is a facade easement. But of note: “Charitable deductions for facade easements are not new.”

The poor creature’s story

  • The Income Tax School: The pluses of online prep learning.
  • Rubin on Tax: Highlights of 2017 tax items subject to inflation adjustments.
  • Dinesen Tax Times: This entry into the tax glossary: “Rollover for Business Startup (ROBS)” transactions, in which a person uses existing retirement account money to fund the startup of a new business. If done right, of course, the transaction is tax-free.
  • Summing It Up: Not too many accounting blogs mention Edward Everett Hale, but the author of The Man Without a Country fits right into a discussion of why so many are giving up U.S. citizenship. (Hint: FATCA and other U.S. reporting regs). (Bonus question: Who played Lt. Philip Nolan in the 1973 TV movie?)

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