In the blogs: Coming to a boil

The IRS reaches north; no questions asked on the Mars minis; new on the block; and other highlights from our favorite tax bloggers.

Coming to a boil

• Tax Vox (https://www.taxpolicycenter.org/): With Congress locked in debate over a big new tax and spending bill, policymakers are battling over the costs and economic benefits of many proposals. One way to measure those is dynamic scoring, a tool that makes it possible to better understand how policy changes affect the overall economy and how those economic effects in turn impact the budget. A look at the basics.
• National Association of Tax Professionals (https://blog.natptax.com/): The NATP and Drake Software are hosting “Taxes Today,” a virtual free roundtable. First up: the Advance Child Tax Credit payments, the opening of PTIN season and current legislation updates. 
• HBK (https://hbkcpa.com/insights/): Some of the latest details of what’s in and what’s out of “Build Back Better.”
• Eide Bailly (https://www.eidebailly.com/taxblog): Favorite opening of the week, in the “Tax Deal Simmers” roundup: “Something might happen this week. Or maybe not.”
• Taxbuzz (https://www.taxbuzz.com/blog): Some end-of-year tax strategies hold up despite pinballing proposals.
• Don’t Mess with Taxes (http://dontmesswithtaxes.typepad.com/): What to remind them about their best tax moves this month, from whittling the FSA to fine-tuning the W-4.
• Wolters Kluwer (https://www.wolterskluwer.com/en/solutions/tax-accounting-us/industry-news): Insert pun containing “high” or “pot” here: As more states legalize marijuana for medical or recreational use, the IRS has begun a cannabis/marijuana initiative to increase voluntary compliance with the tax law while also identifying and addressing non-compliance.

Questions, class?

• Surgent Income Tax School (http://www.theincometaxschool.com/blog/): Current clients are gold: Conventional wisdom holds that they’re usually not nearly as costly (or as much of a pain) to retain compared with securing a new client. Is that true? Of course it is. Here’s a breakdown of the numbers.
• Taxjar (http://blog.taxjar.com/): If you and your clients aren’t asking this now, you probably soon will be: Can remote employees create tax nexus?
• Solutions for CPA Firm Leaders (http://ritakeller.com/blog/): What often hinders a firm from moving forward quickly? Try “some partners.”

Service with a smile

• The Tax Times (https://www.thetaxtimes.com): Northern Exposure Dept.: The IRS can obtain a Canadian couple’s bank records to aid that nation’s investigation of their tax liabilities, a California federal court has ruled.
• Sovos (https://sovos.com/blog/?region=united-states): The IRS has proposed reducing the required e-filing threshold for businesses, from 250 information returns to 100 for the 2021 reporting season. The proposed new regs also change how a business determines the number of returns required to be e-filed. And final regs on the matter likely loom.
• Current Federal Tax Developments (https://www.currentfederaltaxdevelopments.com/): The IRS has released the official draft of the proposed 7203, “S Corporation Shareholder Stock and Debt Basis Limitations,” to be used to report S corporation stock basis, debt basis and allowed/disallowed losses.
• Procedurally Taxing (https://procedurallytaxing.com): A centralized partnership audit regime was enacted as part of the Bipartisan Budget Act of 2015 to replace the TEFRA and electing large partnership audit regimes. A reminder of what makes BBA unique.

Sweet and short

• Mauled Again (http://mauledagain.blogspot.com/: Contemporary takes on holidays seem to continue with “The Tax Consequences of Halloween Candy Buy-Back Programs.” Three bucks for every pound, from a dental office — and part of a growing trend. Bet they get buried in candy corn, but the question for here is, does this constitute “income” for the kids? Spooky.
• Federal Tax Crimes (http://federaltaxcrimes.blogspot.com/): In United States v. Lieber, the court denied a defendant’s motion to suppress statements made during a custodial interview by FBI agents after his arrest on the initial indictment charging nontax crimes. “The opinion is very short and very well-written.”
• Taxing Subjects (https://www.drakesoftware.com/blog): Tips using the internet from the Security Summit include why convenient isn’t always safe, and lusty rounds of Spot the Scam.

New to us

• Taxconnex (https://www.taxconnex.com/blog-): This player in the sales tax compliance field offers a buffet of fine articles on the subject. Recent topics cover top skills needed to manage sales tax, what’s happening with states that don’t have a sales tax and how to respond to jurisdictions’ many, many notices. Welcome!