IRS site not as popular; marketing’s place in talent acquisition; new blog; and other highlights from our favorite tax bloggers.
Limping along
- Tax Foundation (
https://taxfoundation.org/blog ): For the past few decades, policymakers have increasingly relied on the Tax Code to deliver major social spending initiatives. Meanwhile, IRS capacity hasn’t expanded to match major new responsibilities. The solution? - Tax Vox (
https://www.taxpolicycenter.org/ ): The IRS has limped through yet another season, “reduced to plugging staffing holes in customer service and returns processing by shifting workers around.” Processing delays and other problems have shown that the agency’s visible vulnerabilities now have less to do with enforcement and more with customer service. How that might make it tougher for the agency to secure funding down the road. - Bloomberg Tax and Accounting (
https://pro.bloombergtax.com/news-insights/ ): Yes, a lot has happened in the past 85 or so days — including a massive and curious year-over-year drop in taxpayer visits to the IRS website. - Federal Tax Crimes (
http://federaltaxcrimes.blogspot.com/ ): Highlights from the recent TIGTA report on FATCA, with strong encouragement for accounting pros to further investigate the report’s details. - Mauled Again (
http://mauledagain.blogspot.com/ : Whether affecting the New York subway or Pennsylvania state troopers, “most legislators do not have the sort of education and experience in economics, tax policy, engineering, corporate finance and similar disciplines” to hammer out real answers concerning fuel taxes. - Eide Bailly (
https://www.eidebailly.com/taxblog ): “And done right, Tax Day can be the launching point for rethinking and reshaping the boundaries of fiscal citizenship.” We have never seen a blogger actually print, “Bah. Humbug.”
Play by the rules
- Taxjar (
https://www.taxjar.com/resources/blog ): The challenge of sales tax in the sharing economy. - National Association of Tax Professionals (
https://blog.natptax.com/ ): This week’s “You Make the Call” looks at James, 20, and Charles, 19, brothers who each inherited IRAs from their deceased mother. Both are college students without scholarships; their wealthy dad pays more than half of their support. In 2021, each took an IRA distribution of $59,562, well more than the Kiddie Tax unearned income threshold. Each also has earned income of $7,500. James attended school for five months, from August to December 2021, and is considered a full-time student. Charles is not considered a full-time student since he enrolled in only 11 credits as opposed to the 12 that the university requires for full-time status. Do the brothers have to file an 8615? - TaxConnex (
https://www.taxconnex.com/blog- ): What online-seller clients need to know about registering to collect and remit sales tax. - Avalara (
https://www.avalara.com/us/en/blog.html ): Home-rule rules, well, rule when it comes to online sellers’ obligations of extremely local sales taxes. - HBK (
https://hbkcpa.com/insights/ ): A private foundation is exempt under IRC Sec. 501(c) (3) but does not meet the requirements to be considered a public charity. Such an organization must comply with complicated rules governing assets and activities — including, as this article addresses, the requirement to make annual qualifying distributions to avoid significant excise taxes. - Procedurally Taxing (
https://procedurallytaxing.com ): A look at a summary opinion of Wheeler v. Comm’r that further explores the limits of relief from community property taxation under IRC Sec. 66(c).
Forms and functions
- Boyum & Barenscheer (
https://www.myboyum.com/blog/ ): What to remind them about the big tax differences between S and C corps. - CPA Growth Trends (
https://www.cpagrowthtrends.com/ ): Marketing’s role in talent acquisition varies, but the need for marketing, HR and recruiting efforts to work together smart and fast in this area has never been more important. - Henry+Horne (
https://www.hhcpa.com/blogs/ ): What to remind them about SS-4s. - AICPA Insights (
https://www.aicpa.org/blog ): Among the important points of organizations properly filing their federal 8822-B is pinning down just who are the “responsible parties.” - Canopy (
https://www.canopytax.com/blog ): The top 10 accounting trade shows that are must-attends this year.
Surprise, surprise
- Solutions for CPA Firm Leaders (
http://ritakeller.com/blog/ ): Age discrimination is the latest hiring minefield for firms. - Tax Pro Center (
https://proconnect.intuit.com/taxprocenter/ ): Seven “surprising yet proven” ways to gain new referral clients starts with making your services shine their brightest. - Taxing Subjects (
https://www.drakesoftware.com/blog ): A look at this year’s second update of the RRC FAQs. - The Wandering Tax Pro (
http://wanderingtaxpro.blogspot.com/ ): Look at what Bart had to write on the blackboard this week.
New to us
- Yeater & Associates (
https://yeaterassociates.com/blog/ ): This Greeley, Colorado, CPA firm offers a host of financial topics, including local small-business taxes, the importance of a personal balance sheet and if an accountant’s still needed after a client gets QuickBooks. Welcome!
