In the blogs: Ob-La-Di OBBBA

OBBBA and gambling; a billing lesson from bookkeeping; BOI 2.0; and other highlights from our favorite tax bloggers.

Ob-La-Di OBBBAe

• Avalara (https://www.avalara.com/blog/en/north-america.html: A look at the 1099-K threshold changes wrought by the OBBBA.
• Dean Dorton (https://deandorton.com/insights/): The series on OBBBA's impact on various professions and segments continues with a look at life sciences and construction.
• CLA (https://www.claconnect.com/en/resources?pageNum=0): How the agriculture industry won big.
• The National Association of Tax Professionals (https://blog.natptax.com/): What tax pros should know about the "no tax on tips" provision.
• The Wandering Tax Pro (http://wanderingtaxpro.blogspot.com/): "The deduction for tip income and overtime pay is just plain stupid and makes no logical sense. Tip income and overtime pay is earned W-2 income. Why should these types of W-2 income be deductible (exempt from federal income tax) and not other W-2 income? Why do waitresses, for example, deserve a deduction not available to secretaries or clerks?"
• The Tax Times (https://www.thetaxtimes.com): And here's what employees and employers can do now, as well as a look at challenges regarding updates to payroll systems, state regs and future Treasury rules on preventing abuse.
• Boyum & Barenscheer (https://www.myboyum.com/blog/): Investment and taxation implications.
• HBK (https://hbkcpa.com/insights/): Now's also the time to start planning for the big changes to estate taxes.

Challenges new and old

• AICPA & CIMA Insights (https://www.aicpa-cima.com/blog): A multipronged approach to alleviating the talent shortage.
• Tax Pro Center (http://taxprocenter.proconnect.intuit.com/): Here to Stay Dept.: How to get your firm truly set up for hybrid and remote work.
• The Rosenberg Associates (https://rosenbergassoc.com/blog/): The answer to one of life's deepest questions: How to pick a new managing partner.
• Vertex (https://www.vertexinc.com/resources/resource-library/filter/field_asset_type/blog?page=0): How tax teams can use agentic AI.
• Massey and Company (https://masseyandcompanycpa.com/blog/): What to remind them about handling an IRS audit.

Why to love enforcement

• National Taxpayer Advocate (https://www.taxpayeradvocate.irs.gov/taxnews-information/blogs-nta/): How the Taxpayer Assistance and Service Act includes the Taxpayer Advocate's recommendation to clarify TAS's ability to access certain types of IRS information, and what that means for TAS's independence.
• Tax Vox (https://www.taxpolicycenter.org/taxvox): Seems counter-intuitive, we admit, but cutting IRS enforcement is actually a disservice to taxpayers and opens the floodgates to unintentional errors. 
• Virginia – U.S. Tax Talk: (https://us-tax.org/about-this-us-tax-blog/): In Soroban Capital Partners LP v. Commissioner, a Tax Court decision upended assumptions about the self-employment tax exemption for limited partners in hedge funds, and by analogy to venture capital and private equity partnerships both in the U.S. and abroad.
• Don't Mess with Taxes (http://dontmesswithtaxes.typepad.com/): Victims of major natural disasters generally are eligible for a variety of federal filing relief, which the IRS eventually greenlights. A bill that would speed up that process awaits President Trump's signature.

Rent free

• Taxbuzz (https://www.taxbuzz.com/blog): What to remind biz clients about the key differences between employees and contractors.
• TaxConnex (https://www.taxconnex.com/blog-): What's left for sales tax holidays this year? Also, Florida finally ditches sales tax on commercial rent.
• Taxjar (https://www.taxjar.com/resources/blog): August sales tax due dates.
• The Sales Tax People (https://sales.tax/expert-articles/): How long do states have to audit your clients for sales taxes, anyway?