In the blogs: A fistful of options

Crayons and improving workflow; Deloitte goes to law school; certified importance; and other highlights from our favorite tax bloggers.

A fistful of options

• Mauled Again (http://mauledagain.blogspot.com/): The Infrastructure Investment and Jobs Act that passed the Senate contains authorization and funding for a national pilot program for a mileage-based road fee — long supported by the blogger but which has “sparked a variety of reactions.” Some are clearer than others.
• Tax Vox (https://www.taxpolicycenter.org/): Buried in partisan squabbles over Biden’s ambitious domestic agenda are fundamental questions: How can government best increase the nation’s wealth? Taxing the wealthy and spending more on income supports? Or by limiting taxes on capital income and counting on the wealthy to save even more? Is it time for a third option?
• Rubin on Tax (http://rubinontax.floridatax.com/): Does a foreign grantor trust making a distribution to owner/beneficiary face one or two penalties for non-reporting?
• Tax Pro Center (https://proconnect.intuit.com/taxprocenter/): Favorite opening of the week: “There needs to be a ‘why’ behind every major change” (as we near the 28th anniversary of marriage, we tend to agree). The blogger offers a list of much she was doing wrong in her practice 16 years ago, and how she improved her workflow. This is also worth reading for the phrase, “minions running around your house with a fistful of crayons.”
• The Wandering Tax Pro (http://wanderingtaxpro.blogspot.com/): From the blogger’s “emailbag”: Can you use a premature pension withdrawal to pay for home improvements?
• Procedurally Taxing (https://procedurallytaxing.com): A few recent writeups on Tax Court cases provide good bankruptcy background information — and, as a bonus, here’s “a little additional color.”
• Canopy (https://www.canopytax.com/blog): The “perfect engagement letter” in seven steps.
• National Association of Tax Professionals (https://blog.natptax.com/): This week’s “You Make the Call” looks at whether, in tests to determine if a client qualifies as a real estate professional for tax reporting, is the client’s spouse’s participation included?
• Bloomberg Tax (https://pro.bloombergtax.com/news-insights/): Deloitte is downplaying the possibility of using state changes in legal service ownership rules to more aggressively compete against big law.
  

Virtually speaking

• Sovos (https://sovos.com/blog/?region=united-states): Crypto’s a sizzling topic, and the infrastructure bill only added to the fire. A look at some of the most significant proposed changes for reporting virtual currency.
• HBK (https://hbkcpa.com/insights/): IT and cybersecurity are complex for biz owners but cybersecurity attacks don’t care — and continue to threaten businesses large and small. What steps can you take to protect your network? Advance notice of a future webinar.
  

Ordering the Court

• Wolters Kluwer (https://www.wolterskluwer.com/en/solutions/tax-accounting-us/industry-news): In a recent decision, the Tax Court concluded that a religious divorce that was invalid under New York State law was valid in Israel where a decedent remarried. The decedent’s third wife was recognized as his surviving spouse, and the marital deduction was allowed.
• Federal Tax Crimes (http://federaltaxcrimes.blogspot.com/): In Daugerdas v. Commissioner, the Tax Court addressed some issues arising in a CDP proceeding arising from a lien filing related to a restitution-based assessment. How confusing is this?
• National Taxpayer Advocate (https://www.taxpayeradvocate.irs.gov/taxnews-information/blogs-nta/): What to tell them if they recently filed a petition with the Tax Court.

Lots of letters

• Taxable Talk (http://www.taxabletalk.com/): She Wrote Upon It Dept.: Certified mail, return receipt requested, is more important than ever when it comes to snail mail to and from the IRS.
• Turbotax (https://blog.turbotax.intuit.com): What to tell them about how to report self-employment income when they have multiple side gigs.
• Tax Warriors (https://www.taxwarriors.com/): A look at a new portal that links Paycheck Protection Program borrowers directly with the Small Business Administration for loan forgiveness.
• Palm Beach Accounting and Financial Services (https://www.pbafs.com/blog): What to remind them about rules that apply to required minimum distributions, which have changed over the last couple of years and possibly could change again.
• Tax Foundation (https://taxfoundation.org/blog): The 15th was the deadline to take advantage of the premium tax credits from the Affordable Care Act and recently expanded in the American Rescue Plan Act. Future extensions may provide longer-lasting benefits although the extensions may create trade-offs for consumer choice and program costs.
• Taxing Subjects (https://www.drakesoftware.com/blog): New IRS guidance seeks to clarify the Work Opportunity Tax Credit for employers.