Buyback fallacy; change proposed for quarterly taxes; solidifying client relationships; and other highlights from our favorite tax bloggers.
Now the fun begins
- Eide Bailly (
https://www.eidebailly.com/taxblog ): All the news on the Democrats’ latest tax plan. - Tax Foundation (
https://taxfoundation.org/blog ): Stock buybacks have gained a bad rap in recent years as policymakers have blamed them for a range of economic ills, from encouraging a focus on short-term profits to reduced investment. Now they’re in headlines again out of Washington — but research shows that taxing stock buybacks would not be the right policy solution to encourage long-term investment or lift wages. - Don’t Mess with Taxes (
http://dontmesswithtaxes.typepad.com/ ): Think you know quarterly deadlines? “Rep. Debbie Lesko (R-Arizona) has introduced H.R. 4214, also known as the Tax Deadline Simplification Act. It would change the currently not-really-calendar-quarter estimated tax payment deadlines to the uniform quarterly schedule.” - Avalara (
https://www.avalara.com/us/en/blog.html ): Left Out to Dry Dept.: Nevada shuts down DTC shipping for breweries, distilleries and retailers. - Boyum & Barenscheer (
https://myboyum.com/blog/ ): What to remind your startup clients (were there any such hearty souls last year?) about the American Rescue Plan Act of 2021 and its new path that could allow such companies to qualify for up to $100,000 of employee retention credits in the third and fourth quarters this year. - Current Federal Tax Developments (
https://www.currentfederaltaxdevelopments.com/ ): A look at the recent employer guidance from the IRS for reporting COVID sick and family leave pay on 2021 W-2s. - Sovos (
https://sovos.com/blog/?region=united-states ): Among VAT trends, what should you know about the liability of third-party aggregators?
Survival modes
- Sikich (
https://www.sikich.com/insights/ ): What to remind them about RMDs and inherited IRAs. - Mauled Again (
http://mauledagain.blogspot.com/ ): In light of planners’ shenanigans lately, is it finally time to limit the life insurance proceeds exclusion? - The Tax Times (
https://www.thetaxtimes.com ): According to news reports, in the recent Denise Sadjian Curcio and Kenneth Curcio v. Commissioner, the Tax Court held that a woman wasn't responsible for a liability on taxes she filed with her former husband because she lacked the tax knowledge to know the liability would be unpaid. - Taxing Subjects (
https://www.drakesoftware.com/blog ): What to remind them about recent IRS hurricane-related filing and payment relief.
Powerful stuff
- Canopy (
https://www.canopytax.com/blog ): Among four ways to develop strong and long-lasting relationships with your client base are timeliness, delivering what you promise and actually valuing their input. - Solutions for CPA Firm Leaders (
http://ritakeller.com/blog/ ): Ignore leadership development at your firm’s peril. - Taxbuzz (
https://www.taxbuzz.com/blog ): What to remind them about taxes and HSAs. - Wolters Kluwer (
https://www.wolterskluwer.com/en/solutions/tax-accounting-us/industry-news ): Five steps to help businesses of every size harness the “power of big data.” Two keys: affordability and visuals.
