Highlights of some of our favorite tax-related blogs from the past week.
- The Wandering Tax Pro: Timely Final Word: The blogger’s client recounts memories of how the current presidential hopeful once upon a time consistently shorted sub-contractors “by 5% to 10% and didn’t care if they sued him. Ultimately they would settle with him, taking a 5%-plus haircut, and Trump always came out ahead.”
- Tax Girl: We admit that much like SweeTarts, a candidate who lays it on the table early on the trail can be refreshing. How the Donald actually told a Fox microphone that he wants to put H&R Block out of business (don’t get thrilled he meant by simplifying the tax code). He also insisted that he didn’t need to enter the White House with a clear tax plan. Pass the Skittles.
- Tax Vox: Meanwhile, will Scott Walker cut taxes in his nation just as he did in his state of Wisconsin? Does Hillary Clinton seem at all interested in fundamentally restructuring the code? Tune in next week, same Bat Time.
A wide net
- Bond Beebe’s It’s Taxing: How the Surface Transportation and Veterans Health Care Choice Improvement Act, newly signed, also manages to implement changes in due dates for business returns beginning with 2016.
- Rubin on Tax: More details on the above, including due dates for FBAR/FinCEN Form 114, partnership income tax returns (1065) and S corporation forms 1120S and C corp 1120s, among others.
- Philadelphia Estate and Tax Attorney blog: Oh, and the act also changed the six-year statute of limitations to apply to understatements of income that resulted from taxpayers overstating tax basis when calculating sales. This change overturns the Home Concrete case where the Supreme Court ruled that understatements of income as a result of basis miscalculations would not trigger the statute of limitations.
- Don’t Mess with Taxes: A few “tech-savvy staffers” from TV land who might help the feds fight growing tax and government site hacking. “Television offers a wonderful view of modern superwomen.” About time. Edith Bunker’s homespun sense might help, too.
- Tax Analysts: Why can’t Congress seem to make progress on permanent tax extenders? Is money from lobbying and campaign donations really to blame? Blogger Jeremy Scott looks at Harvard professor Lawrence Lessig’s opinion on the matter.
- Mauled Again: A longtime advocate of mileage-based road fee, a “21st century means of financing road infrastructure,” examines recent serious dissatisfaction with the concept.
- Tax Policy: Blogger Stephen Entin looks at restoring solvency to Social Security as the program turns 80. Happy birthday and here’s to many more, with any luck.
Cases in point
- Federal Tax Crimes: A look at the United States v. Boitano, in which the Ninth Circuit panel held that filing is an element of a tax perjury crime.
- Procedurally Taxing: A look at the Florida Bankers Association decision that the D.C. Circuit recently handed down, specifically how the state of the law as it relates to the Anti-Injunction Act and its relationship to the IRS is far from clear and, in a subsequent post, “why the Florida Bankers dissent got this one right.”
- Due Diligence: In this week’s roundup: “We Will Give a Loan to Anyone Who Can Fog a Mirror”; “If They Steal from Mom, What Will They Do to You?”; “Tax Fraud Sends New York Couple to Prison”; and “The Long Arm of the IRS.”
- The Income Tax School: It doesn’t pay to sit on your hands with Schedule C clients: “5 Changes to the Tax Code You Should Know About.” Also, getcha new tax laws here!
- ClientWhys: Had your “ah-ha!” moment with online yet? What you might need to look for regarding a potentially big marketing breakthrough.
- Liberty Tax: Forsaking All Other Tax Breaks Dept.: What to remind clients about concerning health-care credits and marriage.
- Taxing Subjects: Did any of your clients get an IRS Letter 5591 or 5596 regarding the filing status of their 8962? Another Obamacare detail.
- Tax Maven: Restricted Stock Units make a handy-dandy way for companies to provide equity-based compensation to employees, but how do they differ from stock options and restricted stock, especially in terms of taxes?
- H&R Block blog: Suppose your client becomes one of the millions hit annually with ID theft? A look at the info sieve that the IRS has become, along with what we all need to know about big data breaches.
- TurboTax Blog: Even as you or your clients pack the SUV with dorm-room staples, eying the tax savings inherent in higher-ed looms large. What to remember about back-to-school savings you may not see until next April.
- Backtaxeshelp: Let’s start with the notion that Americans actually like paying taxes and move on from there .
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