In the blogs: Fair exchanges

Costs of moving; fee on estate tax closings; top Twitter accounts to follow; and other highlights from our favorite tax bloggers.

Fair exchanges

• Federal Tax Crimes (http://federaltaxcrimes.blogspot.com/): A look at FBAR filing requirements for virtual currencies.
• National Association of Tax Professionals (https://blog.natptax.com/): This week’s “You Make the Call” looks at John, who is single, healthy and 57. He planned an early retirement for January 2020. After talking to his employer and the company’s 401(k) plan administrator about his retirement, distributions were set up to begin in February 2020. When the stay-at-home order was announced in March, the company he retired from closed its doors for good. Will John be able to apply the COVID-19 emergency distribution relief to the distribution received in February?
• Tax Warriors (https://www.taxwarriors.com/blog): Moving a business to a new state is a complex decision. Do your clients know this? What to tell them.
• TaxPro Center (https://proconnect.intuit.com/taxprocenter/): What to tell them — at least for today — about the security of taxpayer data.
• Taxjar (http://blog.taxjar.com/): How e-commerce sellers can handle sales taxes and that inevitable fallout of the holidays, returns.
• IRS Mind (http://www.irsmind.com/blog/): The 12 steps to an offer in compromise.

In with the new

• Current Federal Tax Developments (https://www.currentfederaltaxdevelopments.com): The IRS has proposed regulations to begin charging a user fee of $67 for an estate tax closing letter.
• TaxProf Blog (http://taxprof.typepad.com/taxprof_blog/): Will this be the year of the tax attorney?
• Turbotax (https://blog.turbotax.intuit.com): What to remind them about taxes on their holiday bonuses.
• Tax Girl (https://www.forbes.com/sites/kellyphillipserb/): Best of the Best: The top tax Twitter accounts to follow in the new year.
• Taxing Subjects (https://www.drakesoftware.com/blog): A look at the recent IRS safe harbor for the management or operation of qualified residential living facilities.
• Taxable Talk (http://www.taxabletalk.com/): It’s time to start your 2021 mileage log.
• Bloomberg Tax (https://pro.bloombergtax.com/news-insights/): One accounting firm’s look at helping clients submit applications for another round of federal relief loans.
• Solutions for CPA Firm Leaders (http://ritakeller.com/blog/): What’s it take for a CPA firm to have a shot at real greatness?

And we quote

• Don’t Mess With Taxes (http://dontmesswithtaxes.typepad.com/): A Snitch in Time Dept.: “My mother would not have made a very good Internal Revenue Service Whistleblower Office employee,” the blogger says, following with a brief history of the office and how the pandemic has affected it.
• Mauled Again (http://mauledagain.blogspot.com/): For decades, sports franchise owners who pretend to be poor have sought tax breaks that ultimately burden those who aren’t wealthy. Casino owners have jumped into the tax break buffet. And now comes a tax break “pumped out” to the developer of a water park in Atlantic City, New Jersey.
• Procedurally Taxing (https://procedurallytaxing.com): This wish list of tax administration for 2021 includes “heavy emphasis” on the role the IRS plays in the economic health of our nation. And a nod to a page deep in IRS.gov on IRS operations during COVID-19: “Mission-critical functions continue,” which is updated periodically with information about the status of return processing, check payment processing, mailing of notices, power-of-attorney processing and many other items.
• Rubin on Tax (http://rubinontax.floridatax.com/): Apply this quote on the aforementioned $67 on estate tax wherever needed: “While the fee amount is not outrageously high, it is always irksome when the government charges members of the public before the government will discharge its duty. In this case, that is particularly so.”