When to file on 8821; RMDs and the extension; cloud concerns; and other highlights from our favorite tax bloggers.
Human nature
- Canopy (
https://www.canopytax.com/blog ): Every tax professional knows that they need special permission to access private information on behalf of their client. Many tax professionals use the Form 2848, but there’s a case for proactively filing the Form 8821 first. - Solutions For CPA Firm Leaders (
http://ritakeller.com/blog/ ): The advantages of growing your own team members. - Palm Beach Accounting and Financial Services (
https://www.pbafs.com/blog ): If you have a client beginning to consider the ins and outs of transferring wealth thoughtfully, here are a few details. - AICPA (
https://blog.aicpa.org/ ): Favorite opening of the week: “CPAs are humans, too.” Workplace relationships matter.
Time outs
- Don’t Mess with Taxes (
http://dontmesswithtaxes.typepad.com/ ): If you’ve got a client who’s an older retirement account owner and freaking out because the April deadline for their first required minimum distribution is almost here, tell them to take a breath. - National Association of Tax Professionals (
https://blog.natptax.com/ ): The latest word on what has and hasn’t been extended. - Current Federal Tax Developments (
https://www.currentfederaltaxdevelopments.com ): And this time the IRS much more narrowly defines the taxpayers affected by the COVID-19 emergency. - Taxbuzz (
https://www.taxbuzz.com/blog ): Exploring the many, many myths of filing an extension for business returns (No. 5: The IRS will let your state know about your tax extension).
Corners of law
- Federal Tax Crimes (
http://federaltaxcrimes.blogspot.com/ ): In United States v. Avery, may be a fairly routine holding but for one, why did the defendant not challenge the substantive reasonableness of the restitution portion of her sentence? - Taxing Subjects (
https://www.drakesoftware.com/blog ): A new phishing threat targeting unemployment benefits with fake websites to trick visitors into providing sensitive personal and financial information. - Procedurally Taxing (
https://procedurallytaxing.com ): Four opinions that may not represent major shifts in the way the Tax Court approaches collection due process but do address discrete corners of the law. - Boyum & Barenscheer (
https://myboyum.com/blog/ ): According to the Nonprofit Times, only 41 percent of not-for-profits have whistleblower policies. This is a mistake and here’s why.
Looking for answers
- Mauled Again (
http://mauledagain.blogspot.com/ ): A look at putting the mileage-based road fee to a real, practical test. - Eide Bailly (
https://www.eidebailly.com/taxblog ): Senate Finance Chairman Ron Wyden, D-Oregon, has said he intends to release a document on international tax proposals, but where it goes from there is unclear. - Taxjar (
http://blog.taxjar.com/ ): Omnichannel Retail: What it is and how it affects sales taxes. - Tax Foundation (
https://taxfoundation.org/blog ): Are excise taxes on beverages a good substitute for income taxes? They’re wondering so in West Virginia. - TaxProf Blog (
http://taxprof.typepad.com/taxprof_blog/ ): Plastic pollution is a matter of increasing global concern. Are taxes any answer? - Sagenext (
https://www.thesagenext.com/blog ): Choosing the right remote access solution for your business. - Sikich (
https://www.sikich.com/insights/ ): One of the best and most efficient benefits of moving from an on-premises ERP solution to the cloud is that all updates for the ERP are automatic. But these updates being automatic gives many on-premises clients pause. How much will these updates disrupt business?
