In the blogs: Trendy

Costs of cutting taxes; Tax Court transparency; soil fertility; and other highlights from our favorite tax bloggers.

Trendy

• Don't Mess with Taxes (http://dontmesswithtaxes.typepad.com/): Almost half the states are now part of the tax-cutting trend. But what's the broader cost?
• Tax Foundation (https://taxfoundation.org/blog): House Republicans have proposed three new bills packaged as the American Families and Jobs Act that would temporarily extend some biz provisions from the Tax Cuts and Jobs Act, including 100% expensing for investments in equipment and R&D, create a bonus standard deduction for individuals through 2025, and curtail many recently enacted green energy tax credits, among other changes.
• Tax Vox (http://taxvox.taxpolicycenter.org): Upping the standard deduction sounds like it could offset inflation for middle-income workers. Analysis suggests that a distinctly different class of taxpayer would reap the most benefit.
• Institute on Taxation and Economic Policy (https://itep.org/category/blog/): Public education is under threat and Illinois lawmakers "have a rare opportunity to buck this trend" by allowing their misleadingly named school privatization tax credit, the "Invest in Kids" program, to roll off the books on Dec. 31. It's a voucher tax credit that looks a lot like ones in other states and a copycat of policies in Florida and Arizona.
• Marcum (https://www.marcumllp.com/insights): Texas has come roaring back with economic tax incentives.
• Tax Pro Center (https://proconnect.intuit.com/taxprocenter/): Even with the pandemic (or perhaps because of it…), client accounting service practices grew a median 16% last year. Best practices to capitalize on this trend.

Therein lie the tales

• Sikich (https://www.sikich.com/insights/): Of credit scores, mortgages and sometimes-misleading headlines.
• Taxing Subjects (https://www.drakesoftware.com/blog): What do you get when you combine flooding, snow, California, FEMA and Notice CP14s? Confusion.
• Gordon Law (https://gordonlawltd.com/blog/): A look at the SEC's recent charges against Binance, the world's largest crypto exchange.
• Procedurally Taxing (https://procedurallytaxing.com): Thirty or so years ago, revenue officers and other IRS field employees were permitted to use pseudonyms. The tale of the "first encounter" with use of a name of someone other than the real IRS employee.
• National Taxpayer Advocate (https://www.taxpayeradvocate.irs.gov/taxnews-information/blogs-nta/): The Tax Court has changed its electronic filing and case management system to protect taxpayers' right to be informed. Laudable, but could more be done?
• University of Illinois Tax School (https://taxschool.illinois.edu/blog/): If you have clients who'll want to know, they'll want to know: "Deducting Residual (Excess) Soil Fertility — Does the Concept Apply to Pasture/Rangeland?"
• Wolters Kluwer (https://www.wolterskluwer.com/en/solutions/tax-accounting-us/industry-news): If adopted, the proposal in PCAOB release No. 2023-003 would strengthen and enhance auditor obligations in three key respects.
• Virginia – US Tax Talk (https://us-tax.org/about-this-us-tax-blog/): With foreign information return reporting, the grant of options to an employee on foreign stock can get confusing.  
• John R. Dundon II EA (https://www.johnrdundon.com/): Of solar panels and tax credits.
• Armanino (https://www.armanino.com/articles/): Your biz clients considering a sale of their company should know how marketing can help beforehand.

All good taxes

• Vertex (https://www.vertexinc.com/resources/resource-library/filter/field_asset_type/blog?page=0): As summer vacation season approaches, tax groups are having a difficult time planning for the holidays. Sales tax holidays, that is.
• Boyum & Barenscheer (https://www.myboyum.com/blog/): What to tell nonprofit clients about constant attention to accounting processes.
• TaxConnex (https://www.taxconnex.com/blog-): How do you cancel a sales tax registration?
• Sovos (https://sovos.com/blog/): What to tell biz clients about direct state reporting obligations, which have gotten increasingly difficult for some businesses over the past few years, with more states requiring direct reporting of 1099s.
• Avalara (https://www.avalara.com/blog/en/north-america.html: E-commerce clients should know that the transaction threshold is headed down in Louisiana — only the latest of states on such a list.
• HBK (https://hbkcpa.com/insights/): Colorado's also tinkering with its new retail delivery service fee, which now applies to fewer small sellers but, "like all good taxes," is also going up.