Dumping bad clients; another crypto challenge; no IRS notice; and other highlights from our favorite tax bloggers.
Debt do us part
- Eide Bailly (
https://www.eidebailly.com/taxblog ): What's in Republicans' economic package (probably)? - Tax Vox (
https://www.taxpolicycenter.org/ ): Fave opening of the week: "You can see where this is going. As the U.S. gets ever closer to hitting its borrowing limit sometime this summer, Congress is stumbling towards its usual off-ramp…" - Virginia – US Tax Talk (
https://us-tax.org/about-this-us-tax-blog/ ): When can even a non-resident get snared by the U.S. gift tax? - Palm Beach Accounting and Financial Services (
https://www.pbafs.com/blog ): Reminders for newlywed clients include watching out for something borrowed so no one winds up too blue.
Well-worn paths
- Tax Pro Center (
https://proconnect.intuit.com/taxprocenter/ ): Getting Off the Hamster Wheel Dept.: How to take the occasion of season's end to dump the troublesome clients. - Procedurally Taxing (
https://procedurallytaxing.com ): Has the time come? "A Free Direct E-filing Tax Return System is a Fundamental Taxpayer Right." - Institute on Taxation and Economic Policy (
https://itep.org/category/blog/ ): Kansas lawmakers failed to override Gov. Laura Kelly's veto of a flat tax package and "the state narrowly avoided traveling again down the same disastrous yet well-worn path of deep income tax cuts." - Gordon Law (
https://gordonlawltd.com/blog/ ): The crypto world is witnessing "yet another" legal challenge as the exchange Coinbase Global files against the Securities and Exchange Commission for clarity on the regulatory status of digital assets. - TaxProf Blog (
http://taxprof.typepad.com/taxprof_blog/ ): A recent paper explores the three legs of international tax law and asks whether they're still valid.
Cruel months
- Marcum (
https://www.marcumllp.com/insights ): April's top five cybersecurity threats against businesses included phony QRCs and dodgy ChatGPT. - Sikich (
https://www.sikich.com/insights/ ): The basics of digital forensics, a key player in investigating cybercrime, preventing data breaches, providing evidence in legal cases, protecting intellectual property and recovering lost data. - Avalara (
https://www.avalara.com/blog/en/north-america.html ): Sales tax changes that occurred during April. - Current Federal Tax Developments (
https://www.currentfederaltaxdevelopments.com/ ): In Gage v. Commissioner, a taxpayer finds that a six-figure settlement to the Department of Housing and Urban Development by the end of 2012 gets made in 2013, at least for income tax purposes. - Tax Foundation (
https://taxfoundation.org/blog ): After the 2023 general election in March, Estonia's incoming coalition introduced plans to increase taxes over the next two years. The nation's tax system has consistently ranked as the most competitive amongst OECD countries. Will this change that? - Meyers Brothers Kalicka (
https://www.mbkcpa.com/insights ): A look at a report that the IRS is shutting down the Electronic Federal Tax Payment System accounts of certain private foundations; for security purposes — the agency is deactivating accounts that haven't been used for 18 months. Too bad, reportedly, that the IRS hasn't alerted any foundations at risk of having their accounts deactivated.
Working it out
- Mauled Again (
http://mauledagain.blogspot.com/ ): North Carolina is proposing elimination of state income tax on bonuses up to $2,500 and overtime pay, aiming to encourage employees to work extra shifts and help employers fill vacant jobs. But what if someone can't work extra shifts because of caring for family members, pursuing education or doing community service? - The Tax Times (
https://www.thetaxtimes.com ): For your next round of occupational trivia: The IRS can audit an average of 50 middle- and low-income taxpayers in the time it takes to audit one wealthy taxpayer or more-complex return. - TaxMama (
http://taxmama.com ): Real-life questions on job-related travel, interest on rental income and repair costs and skimpy withholdings highlight the need to talk to a tax pro early and often. - University of Illinois Tax School (
https://taxschool.illinois.edu/blog/) : A look at the unique animal that is farm tax reporting. - Boyum & Barenscheer (
https://www.myboyum.com/blog/ ): The latest on the ever-elusive Employee Retention Credit. - Don't Mess with Taxes (
http://dontmesswithtaxes.typepad.com/ ): The IRS "takes center stage" during Small Business Week with a Twitter chat on May 5 discussing some of the agency's biz resources. - Taxable Talk (
http://www.taxabletalk.com/ ): A reminder to use USPS Certified when snail-mailing to tax authorities — and even then it could take more than a week.
Nexus in line
- Armanino (
https://www.armanino.com/articles/ ): A reminder (and possible upsell opening) concerning the biggest accounting challenges of your e-commerce clients. - TaxConnex (
https://www.taxconnex.com/blog- ): What do e-commerce outlets overseas who are trying to crack into the U.S. have to think about when it comes to sales tax? (Given our patchwork system, a lot.) - Von Lehman CPA and Advisory Firm (
https://vlcpa.com/articles/ ): Delivery and installation charges are no longer taxable in Michigan. - Peisner Johnson
https://peisnerjohnson.com/blog/ ): The economic nexus skinny on New Jersey. - Taxjar (
https://www.taxjar.com/resources/blog ): Economic nexus in Missouri, a relative newcomer to the field.
