Get that 1040V in the mail; OBBBA's ongoing effects; it's beginning to look a lot like Christmas; and other highlights from our favorite tax bloggers.
It could happen to you
- Don't Mess with Taxes (
http://dontmesswithtaxes.typepad.com/ ): Tips for the next big lottery winner. - TaxConnex (
https://www.taxconnex.com/blog- ): The liability for sales tax non-compliance is clear for companies. What about for CPAs? - The National Association of Tax Professionals (
https://blog.natptax.com/ ): The One Big Beautiful Bill Act reshaped many parts of the tax and health coverage landscape, Perhaps most notably in the Affordable Care Act, the very spot many tax pros look for coverage for clients if not for themselves. How those affected should look for significant shifts in how they enroll, pay and remain insured. - Taxable Talk (
http://www.taxabletalk.com/ ): The IRS, that agency infamous for trouble with written correspondence, has changed the mailing address for about half the country's 1040-V series mailing addresses. Best to know early. - Wiss (
https://wiss.com/insights/read/ ): What is outsourced accounting and how can it benefit your clients and firm? - AICPA & CIMA Insights (
https://www.aicpa-cima.com/blog ): The sneaky threat of burnout and the benefit, too often overlooked, of self-care for CPAs. - The Rosenberg Associates (
https://rosenbergassoc.com/blog/ ): How working closely with a smaller firm over several years has painted a portrait of sustainable success.
Just keeps rollin'
- Tax Foundation (
https://taxfoundation.org/blog ): The OBBBA provision limiting deduction of gambling losses might cause individuals to owe taxes on imaginary income, incentivizing gamblers succeeding on thin margins to exit the U.S. or try their luck in illicit markets. - CLA (
https://www.claconnect.com/en/resources?pageNum=0 ): The OBBBA didn't steamroll everything. Though it did roll back certain energy incentives, tax credit transferability remains largely intact, creating a clear runway to transact credits for the next several years and keeping this powerful tax planning strategy in play. - Boyum & Barenscheer (
https://www.myboyum.com/blog/ ): From craft brewing techniques to kitchen automation, breweries have seen major innovation recently — which many operators didn't realize would be an R&D kegger around now thanks to the OBBBA. - Yeo & Yeo (
https://www.yeoandyeo.com/resources ): How the OBBBA's effect on the SALT deduction will influence tax planning. - Tax Vox (
https://www.taxpolicycenter.org/taxvox ): Congress and the Trump administration have undertaken a range of immigration policies that could have consequences for state and local government budgets. These policies, if they discourage tax filing, reduce federal financial support and remove economic contributors from communities, could strain the finances of many states and localities.
No longer a sprint
- Virginia - U.S. tax talk (
https://us-tax.org/about-this-us-tax-blog/ ): What happens to your everyday nest egg when you're denaturalized or voluntarily surrender your green card? Suddenly accessing retirement savings becomes a maze of tax rules, withholding requirements and international complexities. How do you withdraw funds without losing a chunk to U.S. taxes? Are these accounts still part of your U.S. taxable estate at death? - Taxjar (
https://www.taxjar.com/resources/blog ): Favorite opening of the week: "The holiday shopping season is no longer just a sprint; it's a marathon in a constantly evolving retail landscape." The most successful retailers plan ahead, and here are the latest strategies in operational readiness, including sales tax compliance so ecommerce-heavy clients have stockings hung with care in advance. - Taxing Subjects (
https://www.drakesoftware.com/blog ): Cut-rate Drake is scammers' latest bait. - Avalara (
https://www.avalara.com/blog/en/north-america.html : Diapers, feminine hygiene products and incontinence products are exempt from Missouri state and local sales and use tax starting Aug. 28. - Sovos (
https://sovos.com/blog/ ): Reform seeks to simplify the complex Brazilian tax system, the highlight being introduction of new taxes. How the reform will transform the national tax system.
Access and opportunities
- Parametric (
https://www.parametricportfolio.com/blog ): Four ways to manage taxes as loss-harvesting opportunities fade. - Massey and Company (
https://masseyandcompanycpa.com/blog/ ): What to remind them about accessing their return transcript.
