Voices

In the blogs: Surprising numbers

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Making partners bill; more distribution guidance; NATP winners; and other highlights from our favorite tax bloggers.

Surprising numbers

  • TaxProf Blog (http://taxprof.typepad.com/taxprof_blog/): While conventional wisdom (whatever that is anymore) holds that we should lower taxes on corporations because of international competition, two recent changes militate in favor of higher corporate taxes, which would close the deficit, fund social programs and reduce inequality.
  • Tax Foundation (https://taxfoundation.org/blog): In spite of the good evolution of the tax-to-GDP ratios in the Asia-Pacific region in 2018, tax revenues are likely to decrease significantly as a result of the COVID-19 pandemic and the associated economic crisis, according to the Organisation for Economic Co-operation and Development.
  • Solutions For CPA Firm Leaders (http://ritakeller.com/blog/): Billing clients should be routine. It should be a well- established habit. It’s not difficult, so don’t make it so. Pointers and a process to keep this vital chore humming. Our favorite line: “Each partner does their own billing from soup to nuts...”
  • Sagenext (https://www.thesagenext.com/blog): A look at the recent prevalence of and reasons behind widespread acceptance of multi-cloud strategies.
  • Sikich (https://www.sikich.com/insights/): A look at the new Department of Labor rules for overtime in certain industries, including the “duties test” for each position to assist in determining exemption status.
  • Mauled Again (http://mauledagain.blogspot.com/): Who gets surplus proceeds from a tax sale? In Michigan, the answer is sort of logical but also a big surprise.

Caught

  • Mahany Law (https://www.mahanyertl.com/blog/): Presenting those timeless four little words of tax cheats: “Will I get caught?” A look at how the IRS has become much better at finding those who evade taxes. Although, as they said once on “Mindhunter,” a drama about interviewing serial killers for patterns of crime, “It does strike me that you only get to interview the killers who’ve been caught…”
  • Tax Pro Center (https://proconnect.intuit.com/taxprocenter/): How to pile up the sandbags against cybercrime — and don’t forget your required written information security plan (WISP).

Show some appreciation

  • Tax Warriors (www.taxwarriors.com/blog): A recent IRS notice addresses some of the questions left unanswered by the CARES Act and provides further guidance regarding coronavirus-related distributions from retirement plans. Some of the highlights.
  • IRS Mind (http://www.irsmind.com/blog/): The IRS put its own version of “Stop payment please!” on people sending paper checks for installment plans during the pandemic. “The IRS did the right thing” but that relief is now over.
  • The Income Tax School (http://www.theincometaxschool.com/blog/): Ways to thank employees these days without breaking what’s left of the bank include calling out small accomplishments and turning to old-fashioned snail mail (“It’s always exciting to get mail that is not junk mail or a bill...”).
  • Tax Vox (https://www.taxpolicycenter.org/taxvox): Congress can pick up a variety of tools to boost the economy by getting cash into people’s pockets. Which is best?
  • Don’t Mess with Taxes (http://dontmesswithtaxes.typepad.com/): A private tax collector is being ordered to pay back “at least a little” to an improperly targeted taxpayer.
  • National Association of Tax Professionals (https://blog.natptax.com/): Association yearly award winners for Chapter Person, Chapter and Tax Pro. Congrats — especially in this weird and tough time!
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