Emailing an unprotected return; Sec. 899; IRMMA tactics; and other highlights from our favorite tax bloggers.
Making choices
- Taxable Talk (
http://www.taxabletalk.com/ ): Just send that return for all to see: Missouri has joined New Jersey in the blogger's hall of shame for encouraging identity theft. - HBK (
https://hbkcpa.com/insights/ ): How manufacturing clients can survive the tariffs extravaganza. - Institute on Taxation and Economic Policy (
https://itep.org/category/blog/ ): As the D.C. region heads toward a likely recession, local policymakers will need to look to new revenue sources to help lessen the pain. Why lawmakers ought to adopt a simple reform that would raise revenue and make the District's business tax system fairer. - Withum (
https://www.withum.com/resources/ ): What to remind them about the mega backdoor Roth. - Virginia – U.S. Tax Talk: (
https://us-tax.org/about-this-us-tax-blog/ ): OBBBA won't be so beautiful for foreign persons if IRC Section 899 becomes reality. - Tax Vox (
https://www.taxpolicycenter.org/taxvox ): OBBBA does little to increase access to paid family leave but just tweaks a little-known and largely ineffective tax credit, doubling down on access through optional private insurance policies; this leaves workers with their employers' choices. How, luckily, lawmakers have other choices. - Current Federal Tax Developments (
https://www.currentfederaltaxdevelopments.com/ ): The Tax Court's recent Kramarenko v. Commissioner opinion "provides a crucial analysis for tax professionals concerning the interpretation and application of tax treaty provisions," particularly those related to exemptions for students, trainees and researchers. - The Sales Tax People (
https://sales.tax/expert-articles/ ): Why isn't sales tax just included in the purchase price of items? - Taxnotes (
https://www.taxnotes.com/procedurally-taxing ): Guest blogger Sherrill L. Trovato wonders how difficult the Tax Court exam for non-attorneys should be. - Yeo & Yeo (
https://www.yeoandyeo.com/resources ): A look at GASB Statement No. 101, "Compensated Absences," now effective for fiscal years ending June 30, 2025, and subject to audit.
Games of risk
- Vertex (
https://www.vertexinc.com/resources/resource-library/filter/field_asset_type/blog?page=0 ): This year's turbulence marks a good time to reassess evolving areas of risk. Since those areas are of great interest to CFOs, it makes sense for the tax leaders who report to finance chiefs to keep tabs on these issues. - Canopy (
https://www.getcanopy.com/blog) : How to start a firm, from specializations and client size to pricing, tech infrastructure and everything else. - CLA (
https://www.claconnect.com/en/resources?pageNum=0 ): How an ERP can improve project management for consulting firms (including, maybe, yours). - Wiss (
https://wiss.com/insights/read/ ): What to remind them about how spousal lifetime access trusts can fit into estate plans.
And counting
- The National Association of Tax Professionals (
https://blog.natptax.com/ ): This week's "You Make the Call" looks at Edna and Stacy, who each contributed $100 cash to a new LLC taxed as a partnership, Counting Cowgirls. Each has a 50% interest in the LLC, which immediately obtained an $800 loan to purchase a laser printer, qualifying for $320 of bonus depreciation. Can Edna and Stacy deduct this loss against their outside basis, or is the loss suspended? - U of I Tax School (
https://taxschool.illinois.edu/blog/ ): How to help older clients prep for the dreaded IRMMA on Medicare premiums. - Berkowitz Pollack Brant (
https://www.bpbcpa.com/articles-press-releases/ ): What to remind biz clients about preparing for hurricane season. - Eide Bailly (
https://www.eidebailly.com/taxblog ): West Virginia Senator Robert Byrd, "a lion of the Senate from a different era of politics," died in office 15 years ago, but his legacy lives on in the "Byrd Rule," which, on one level, "is why the tax legislation is happening in the first place."
