In the blogs: A world of fraud
January 31, 2017, 12:51 p.m. EST
W-2 scams, e-mail scams, phone scams, and other highlights from our favorite tax bloggers this week.
What’ll they think of stealing next?
- Tax Girl (http://blogs.forbes.com/kellyphillipserb): Can you hear me? Answer this question “yes” and scammers might use the recording to dive into your credit card, phone or utility accounts. Other yes/no questions can be “Are you the person responsible for paying the telephone bill?” and “Are you the homeowner?”
- Don’t Mess With Taxes (http://dontmesswithtaxes.typepad.com/): Remember that tax scam where crooks posing as company executives sent e-mails asking for workers' payroll data? Seems like yesterday (in fact it was last spring, and even nailed an employee of the NBA’s Milwaukee Bucks), but it’s back.
- Intuit Proconnect (http://taxprocenter.proconnect.intuit.com/): Another look at the W-2 e-mail scam, including poseurs’ assumed roles and sensitive info requested.
- H&R Block (http://blogs.hrblock.com/): Under-reported income, unfiled returns, lurid headlines about a scam-filled life beneath the radar: Who exactly does go to prison for tax evasion?
- Procedurally Taxing (http://www.procedurallytaxing.com/): A look at filing refund claims for the wrongly jailed. Just as tough as it sounds.
- Bloomberg BNA (http://www.bna.com/news/#!topic=istax&type=isblogpost): An out-of-state corporation is not liable for California franchise tax based solely on its minority interest in a manager-managed LLC, the California Court of Appeal recently affirmed in Swart Enterprises, Inc. v. Cal. Franch. Tax Bd. For taxpayers who previously filed California corporate franchise tax returns based on such interests, should they file a refund claim?
- IRS Tax Trouble (http://www.irstaxtrouble.com/category/tax-blog/): In Brown v. Commissioner, the court addresses whether taxpayers can claim a deduction for taxes paid by a defunct S corporation in the current year when the taxes are owed by the corporation for prior tax years. Many taxpayers don’t realize they can claim a deduction for taxes in this situation.
- Mauled Again (http://mauledagain.blogspot.com/): Clearest opening of the week: “Sometimes the simplest things get complicated, and often unnecessarily so.” To wit, Tilden v. Comr., where a taxpayer trusted a lawyer to file a petition with the Tax Court and the lawyer used postage that hung the letter in the mail system past the due date. Simplest is as simplest does.
- The Income Tax School (http://www.theincometaxschool.com/blog/): Last reminder of the dots and dashes of the many many many many new things to know and pass on about this season’s returns.
- Taxable Talk (http://www.taxabletalk.com/): As tax docs continue flying this time of year, should your client just accept a deliberately wrong 1099? A past situation reveals what can happen, practically speaking, and how to proceed.
- Turbotax (http://Blog.turbotax.intuit.com): Ah, little can make a client crankier than “one of the stranger parts of the Tax Code” for those who itemize: when state and local refunds can be taxable for the following year.
- Taxjar (http://blog.taxjar.com/): What the 1099-K means for serious Amazon sellers.
- Dinesen Tax (http://dinesentax.com/blog): Helping you make sure that small-biz clients make sure to know the crucial difference between independent contractors and employees.
- Sageworks (https://www.sageworks.com/blog/default.aspx): Lending to small biz is a cornerstone of growth-oriented banks and credit unions – exactly the type of institutionalized folks small-business owners might dread to approach. How to make this experience smoother for everyone.
- Rubin on Tax (http://rubinontax.blogspot.com/): A reminder that FBARs have a new due date this year: April 18.
- Tax Vox (http://taxvox.taxpolicycenter.org): Could be a tough year for the states – there are still 50 for the moment – as two out of three enter this year with deficits even though 32 states spent less in real terms in 2016 than 2008. Then there are the gathering fiscal storm clouds in Washington.
- Solutions for CPA Firm Leaders (http://ritakeller.com/blog/): It does take all kinds. “In an accounting firm, you need great partners and great managers,” including partners with the vision and managers with the knack for carrying out partners’ wishes and keeping the team focused.
- Tax Policy (http://taxfoundation.org/blog): Your handy-dandy FAQ on border adjustment, that buzzword of proposed change to the tax system and part of the House Republicans’ reform plan.
- Bloomberg BNA (http://bnas.wpengine.com/): Tax data analytics is all the rage in this age of big data, the underpinning of successful tax planning that’s now a top priority for many leading companies. A look at a recent article that discusses how companies can implement corporate tax data best practices, and explores new processes and automation techniques for achieving successful tax analytics and planning in the future.