In the blogs: The good inflation

Coming brackets; rising expatriations; meeting behavior and aftermaths; and other highlights from our favorite tax bloggers.

The good inflation

• Tax Warriors (https://www.taxwarriors.com/): When exploring “the good inflation” that we all like to hear about — increases in deductions and credits — let’s get at it!
• Rubin on Tax (http://rubinontax.floridatax.com/): Favorite opening of the week: “We have gone from scrambling to deal with a decrease in the unified credit under proposed legislation, to now enjoying the 2022 inflation adjustments.”
• The Tax Times (https://www.thetaxtimes.com): That age-old question of all relationships — “Should I Stay or Should I Go?” — examines the recent rise in U.S. expatriations.
• Taxable Talk (http://www.taxabletalk.com/): “The 2021 Real Winners of the World Series of Poker” really comes down to the last item in the entry, a table summarizing the tax bite.

Better ways

• Eide Bailly (https://www.eidebailly.com/taxblog): All the late news on Build Back Better’s big brouhaha ahead.
• HBK (https://hbkcpa.com/insights/): Another look at how debate over President Biden's signature plan to expand the social safety net is far from over.
• Tax Vox (https://www.taxpolicycenter.org/): After rejecting corporate income tax rate increases to help pay for President Biden’s Build Back Better plan, House Democrats passed an Alternative Minimum Tax on the income very large corporations report to their shareholders. This creates a mess of policy and administrative problems. Here is one better way.
• Mauled Again (http://mauledagain.blogspot.com/: Is the blogger’s easy SALT cap conundrum solution getting Capitol Hill attention?
• Procedurally Taxing (http://www.procedurallytaxing.com/): Favorite headline of the week: “Cursive! Foiled Again.” What happens when parties use the wrong font for a petitioner’s signature and the Tax Court sends the decision back to be redone.
• Federal Tax Crimes (http://federaltaxcrimes.blogspot.com/): A question on many minds after recent headlines: “Civil Liability for Conduct That Is Acquitted in Criminal Case.”

Coin a phrase

• Current Federal Tax Developments (https://www.currentfederaltaxdevelopments.com/): A taxpayer took physical possession of coins that she argued were owned by an LLC. That LLC’s interests were held by her self-directed IRA. Did she have a taxable distribution from the IRA?
• Don’t Mess with Taxes (http://dontmesswithtaxes.typepad.com/): A look at the Child Tax Credit, advance payments and likely increases — and the benefits of all three for some clients.
• TaxProf Blog (http://taxprof.typepad.com/taxprof_blog/): Make the expanded CTC permanent with this one trick.
• Sovos (https://sovos.com/blog/?region=united-states): What is an unclaimed property securities audit?
• TaxConnex (https://www.taxconnex.com/blog-): You can probably assume your biz clients have the best of intentions of meeting their sales tax obligations in the future. What about sales tax liability from prior months?
• Taxbuzz (https://www.taxbuzz.com/blog): What to remind them about the triple tax benefits of 401(k)s.
• John R. Dundun II EA (http://johnrdundon.com/): Private for-profits and nonprofit agencies that place individuals in foster homes, as well as parents of disabled children, may have certain tax reporting obligations.

Meeting expectations

• Taxing Subjects (https://www.drakesoftware.com/blog): This tech series continues with a look at how cloud apps can help remote working.
• Solutions for CPA Firm Leaders (http://ritakeller.com/blog/): Too often in partner meetings, decisions are put on hold. If a decision is finally made, it often fails because of a lack of implementation. If someone in your meeting leaves without anything to do they shouldn’t be in the meeting in the first place. And another thing: Stop complaining, interrupting and blathering.
• CPA Growth Trends (https://www.cpagrowthtrends.com/): LinkedIn, Indeed and Zip Recruiter are all important to landing new employees for your firm, but consider making your site and employment opportunities easier to find. Use your web design to not only target potential clients but potential employees as well.

Oh K

• Wolters Kluwer (https://www.wolterskluwer.com/en/solutions/tax-accounting-us/industry-news): Partnerships, S corporations and U.S. persons with interests in foreign partnerships may have to file Schedules K-2 and K-3 with the returns they file in 2022 for tax years beginning in 2021. The specifics.
• Taxjar (http://blog.taxjar.com/): Starting in 2021, the IRS is making some changes to bring efficiency and increased accuracy to its reporting and compliance processes. This brought a few updates to the 1099-K reporting, notably a lower threshold that will have a big impact on sellers.
• National Association of Tax Professionals (https://blog.natptax.com/): What to remind them about how the right business entity type can make all the tax difference.
• Gordon Law (https://gordonlawltd.com/blog/): What to remind them about converting a sole proprietorship to an LLC.