The well-oiled firm; refundable credits in states; taxing settlement money; and other highlights from our favorite tax bloggers.
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Read my tips
- The Wandering Tax Pro (
http://wanderingtaxpro.blogspot.com/ ): How "No Tax on Tips" is misleading. - Tax Vox (
https://www.taxpolicycenter.org/taxvox ): Some taxpayers will be able to deduct gratuities received this year. Except Congress has largely punted on who, what and how. - Boyum & Barenscheer (
https://www.myboyum.com/blog/ ): The latest tax developments on 529s, especially given the One Big Beautiful Bill Act. - Yeo and Yeo (
https://www.yeoandyeo.com/resources ): OBBBA's (somewhat predictable) effects on some clean energy incentives. - Eide Bailly (
https://www.eidebailly.com/taxblog ): Just a few months ago, withholding tax was far more top-of-mind for cross-border tax and transfer pricing planning than were tariffs. Despite the new attention on tariffs, withholding isn't going away. - Tax Foundation (
https://taxfoundation.org/blog ): OBBBA alters several components of the U.S. international corporate tax regime, including the base erosion and anti-abuse tax (BEAT). - Withum (
https://www.withum.com/resources/ ): President Trump is expected to issue an executive order encouraging greater use of private equity and other private market investments in defined contribution retirement plans.
Oil change
- Canopy (
https://www.canopytax.com/blog ): Cash flow, knowledge transfer and founders with technical knowledge transitioning to owners who can run a business are among strategies for "running a well-oiled firm." - Berkowitz Pollack Grant (
https://www.bpbcpa.com/articles-press-releases/ ): Favorite opening of the week: "No matter how much income you earn each year, the IRS wants to know." What to remind them about one of tax prep's most nagging questions in the gig era: Hobby or business? - Armanino (
https://www.armanino.com/articles/ ): A SOX compliance assessment isn't just a box to check: It's a strategic opportunity to strengthen a company's financial foundation. How to help them understand how the process works and how to prepare. - Wiss (
https://wiss.com/insights/read/ ): Clients who deferred capital gains using Qualified Opportunity Funds should watch the calendar: The Dec. 31, 2026, deadline for recognizing those deferred gains is only some 17 months away.
Hidden meanings
- TaxProf Blog (
http://taxprof.typepad.com/taxprof_blog/ ): A recent article examines the role of merit and desert in tax policy, concepts frequently invoked in political debates to support social and economic reforms. How they're often infused with meanings that advance political, rather than policy, agendas. - Institute on Taxation and Economic Policy (
https://itep.org/category/blog/ ): Refundable tax credits have been huge in state tax policy conversations this year. - Current Federal Tax Developments (
https://www.currentfederaltaxdevelopments.com/ ): The recent Tax Court decision in Adrienne Mennemeyer v. Commissioner of Internal Revenue offers insights for tax pros regarding the taxability of settlement proceeds, the deductibility of business expenses, and penalties for failure to timely file. - The Tax Times (
https://www.thetaxtimes.com ): A look at recent IRS info on trends in compliance through FY23. - Taxnotes (
https://www.taxnotes.com/procedurally-taxing ): This fourth entry in the series profiles Tax Court Judge Courtney D. Jones.
