Sweeping review; year-end procedures; close the book; and other highlights from our favorite tax bloggers.
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Take the high road
Mauled Again : Our favorite headline of the week: "'Pot [Tax] for Potholes' Is Just Another Cute Slogan with Ugly Results." Back in October, a comment was posted on Mauled Again regarding the Michigan wholesale tax on the sale of marijuana from growers and processors to retailers. The proceeds of the tax are used to fund part of the cost of improving Michigan's roads. What's next? Taxing people who buy peanut butter to fund schools?Association for Accounting Marketing : Private equity's expanding presence in accounting has elevated a once-technical issue into brand strategy territory: when and how professionals may publicly use the CPA license in PE accounting firms.ITEP: As state lawmakers continue to weigh their linkages to the federal Tax Code in light of the recent federal tax law, New Mexico provides a blueprint for limiting multinational corporate tax avoidance. Recent legislation now signed into law prevents corporations from hiding their income in offshore tax havens while conforming to parts of the federal law, namely the federal code's new definition of net controlled-foreign-corporation tested income (NCTI, or "necktie"). Other states would be wise to adopt this thoughtful, innovative approach to federal tax conformity.Yeo & Yeo : Most businesses close their books for tax and accounting purposes on December 31 because it aligns with the calendar year. But a calendar year isn't always the best option. This site provides what you should know when deciding on the right tax year end for your business.
You've got mail
National Association of Tax Professionals: As April 15 approaches, tax offices and clients may still rely on the mail for tax payments and other last-minute paper filings. If you've ever reassured a client that something was "mailed on time," it's worth taking a closer look at how confident you can be in that statement.Tax Pro Center : One of the provisions in the One Big Beautiful Bill Act for tax year 2026 is the Trump account. Designed to build long-term wealth, Trump accounts are tax-advantaged, IRA-style investment accounts for US children under 18 years old.Tax Foundation: Proponents of a California wealth tax ballot initiative insist that the proposed wealth tax is temporary: a one-time 5% tax that can be paid upfront or over five years with deferral charges. Others are skeptical that the wealth tax would be allowed to expire.
It's a FACT
The Tax Times : U.S. multinationals used new FASB-mandated tax disclosures to reveal that 40 large corporations cut their 2025 tax bills by over $11.5 billion through profit shifting to low‑tax jurisdictions, especially in pharma and biotech, according to a FACT Coalition analysis.Drake Software : Tax season is in full swing, and for tax professionals, accuracy matters more than ever. With millions of returns filed each year and IRS systems matching taxpayer data more aggressively, even small mistakes can trigger refund delays, notices or amended returns. This site provides some of the most common tax filing errors professionals see — and what you can do to help prevent them now.Meyers Brothers Kalicka : Sometimes donors put restrictions on their donated funds, and in other instances, nonprofit boards place limits on certain assets. Board-designated net assets can prove critical to the survival of programs, projects — or even the organization itself. MBK takes a closer look.Withum : Recent regulatory changes are actively reshaping how small business government contractors compete, meet compliance requirements and pursue growth across the federal marketplace. As these changes remain in effect, small-business government contractors should regularly revisit key compliance areas to remain aligned with evolving requirements.
Time to move on
TaxConnex : Deciding to move on from your current sales tax provider is a big step, but it doesn't have to be a stressful one. With the right preparation and a clear process, transitioning to a new provider can be smooth, organized and low risk. In fact, experienced providers handle transitions regularly and will guide you through each step to ensure continuity.CLA: In today's competitive home-buying market, real estate agents are often reluctant to spend time showing homes until they know a buyer has financing lined up. That distinction makes sense from a business perspective, but from a compliance standpoint, preapprovals can quickly become complicated for financial institutions.Massey and Company : Cost segregation and real estate professional status represent two of the most powerful tax advantages available to property investors, and when combined strategically, they create opportunities for substantial tax benefits that can save tens of thousands of dollars annually.Avalara: The days of stuffing pennies into copper-colored sleeves are numbered. For retailers and tax administrators, the demise of the penny will eventually necessitate rounding cash up or down. Governments and tax officials must decide how businesses should handle sales tax when rounding cash transactions. To date, about a dozen states have issued guidance on rounding.
