Automation pitfalls; partners in meetings; offering financial planning; and other highlights from our favorite tax bloggers.
Watchful eyes
- Armanino (
https://www.armanino.com/articles/ ): The Securities and Exchange Commission's watchful eye over cybersecurity issues became much more focused in July 2023 when it finalized new cybersecurity disclosure mandates. The rules, which went into effect Sept. 5, are more rigorous and include specific requirements for registrants for fiscal years that end on or after Dec.15. Six ways to comply. - HBK (
https://hbkcpa.com/insights/ ): Abruptly changed invoices, gift cards and redirected payments are all tools in the growing crime of "business email compromise." - AICPA Insights (
https://www.aicpa-cima.com/blog ): Cybercrooks relish small companies (and firms) and their sometimes B-grade firewalls. Ask the right questions about your cybersecurity, types of cyberattacks, insurance coverage limits — and what happens if you don't follow the policy. - Wolters Kluwer (
https://www.wolterskluwer.com/en/solutions/tax-accounting-us/industry-news ): Aided by artificial intelligence and Inflation Reduction Act funding, the IRS takes aim at partnerships. What to expect and how to prepare. - University of Illinois Tax School (
https://taxschool.illinois.edu/blog/) : A look at the new feature of IRS Tax Pro accounts to better manage authorizations. - Vertex (
https://www.vertexinc.com/resources/resource-library/filter/field_asset_type/blog?page=0 ): Cloud technology can help indirect tax groups respond to business model changes, smooth ecommerce, improve customer experiences and field tax compliance. Which all means that tax teams must make sure that tax technology cloud migrations are built into larger ERP migrations and finance transformation. - TaxConnex (
https://www.taxconnex.com/blog- ): Automation, especially for something as complex as sales tax, works great. Until it doesn't. - Solutions For CPA Firm Leaders (
https://ritakeller.com/wordpress/ ): Most meetings aren't really necessary. Neither is the presence, necessarily, of all partners in a meeting.
Incoming
- Institute on Taxation and Economic Policy (
https://itep.org/category/blog/ ): What state tax proposals are on the ballot as another election day creeps closer. - Boyum & Barenscheer (
https://www.myboyum.com/blog/ ): The Social Security wage base for employees and the self-employed increases next year. - Sikich (
https://www.sikich.com/insights/ ): A look at the new IRS regulations — including a greatly reduced threshold for filing — for those dealing with 1099s for 2023. - Tax Pro Center (
https://proconnect.intuit.com/taxprocenter/ ): Ditto the W-2.
Unfairness of things
- Procedurally Taxing (
https://www.taxnotes.com/procedurally-taxing ): A holder of a Canadian IRA learned the hard way that bankruptcy doesn't protect all assets equally. - TaxProf Blog (
http://taxprof.typepad.com/taxprof_blog/ ): Is the Tax Court itself one reason that tax law isn't uniform? - Tax Vox (
https://www.taxpolicycenter.org/taxvox ): As you paw through what you didn't give out Tuesday night or through the kids' haul when they aren't looking, take a sec to learn here just how complex sales tax can be on candy. - Avalara (
https://www.avalara.com/blog/en/north-america.html ): For example, everything's big in Texas — except the granularity of sales tax laws concerning snacks. - Withum (
https://www.withum.com/resources/ ): You Don't Know What They Don't Know Dept.: What to remind them about how CPAs fit into financial planning. - Palm Beach Accounting and Financial Services (
https://www.pbafs.com/blog ): What to remind them about passing property to the next generation.
