In the blogs: Keeping It Straight

The limits of DOGE; big pharma and the Tax Cuts and Jobs Act; soda tax misaimed; and other highlights from our favorite tax bloggers.

Keeping It Straight

• HBK (https://hbkcpa.com/insights/): In the latest lob of the ball back over the net, the Supreme Court says it will allow the Corporate Transparency Act and beneficial ownership reporting.
• Eide Bailly (https://www.eidebailly.com/taxblog): Basically, on Jan. 23, the Supreme Court stayed an injunction on reporting, pending consideration by the 5th Circuit Court of Appeals. "However, there is another nationwide order issued by a different federal district court that remains in place, and the government states 'reporting companies are not currently required to file beneficial ownership information with FinCEN despite the Supreme Court's action'." 
• Taxable Talk (http://www.taxabletalk.com/): More on BOI reporting, with wittily placed strikethroughs.
• Tax Vox (https://www.taxpolicycenter.org/taxvox): DOGE could end up missing some of the largest government programs — because they're hidden in the Tax Code and run by the IRS.

Making an impression

• Sikich (https://www.sikich.com/insights/): What your firm needs to know about AI changing search, social and websites in an AI-dominated world.
• Avalara (https://www.avalara.com/blog/en/north-america.html): New remote sales tax sourcing rules for out-of-state sellers took effect in Illinois on Jan. 1, and registered businesses shipping goods from outside the state must now collect the combined state and local sales tax at the delivery address. 
• TaxProf Blog (http://taxprof.typepad.com/taxprof_blog/): A recent report analyzes tax rates for domestic and foreign pharmaceutical companies in the five years before and after passage of the TCJA.
• Sovos (https://sovos.com/blog/): What could be the impact of the new 1099-DA?
• TaxConnex (https://www.taxconnex.com/blog-): Part one of how a new construction project, renovation or expansion of a property and ongoing management of a property all come with sales tax nuances.
• Virginia – U.S. Tax Talk (https://us-tax.org/about-this-us-tax-blog/): When the IRS targets taxpayers with assets abroad (U.S. citizens or no), the collection challenge escalates. 
• Vertex (https://www.vertexinc.com/resources/resource-library/filter/field_asset_type/blog?page=0): The Chevron Doctrine's overturning will likely ripple indirectly to tax policymaking. 
• Withum (https://www.withum.com/resources/): A look at the rescinding of the SEC's SAB 121, which provided guidance on the accounting to safeguard crypto-assets that an entity holds for platform users.
• Global Taxes (https://www.globaltaxes.com/blog.php): Recipients of foreign gifts have received a couple of breaks from the IRS.
• Mauled Again (http://mauledagain.blogspot.com/): Philadelphia's about to hold hearings on a soda tax. But, as the blogger notes, "If the soda tax was truly about improving health, the tax should and would be a tax on sugar and similar substances and not just beverages."

We need to talk

• Tax Notes (https://www.taxnotes.com/procedurally-taxing): First-time blogger Abdulrahman Azzouni addresses when "Alternate Dispute Resolution Meets FOIA: Resolving Disputes Through Mediation."
• Palm Beach Accounting and Financial Services (https://www.pbafs.com/blog): Credit Where It Isn't Due Dept.: What to remind them about the most common scams of IRS impersonators.
• Tax Pro Center (https://accountants.intuit.com/taxprocenter/): Per the IRS, a rundown on ever-popular gift card scams.
• Boyum & Barenscheer (https://www.myboyum.com/blog/): What nonprofit clients need to know — but might not want to tackle — about cost allocation.
• Current Federal Tax Developments (https://www.currentfederaltaxdevelopments.com/): There are big events in life and then there are big events in taxes: The IRS has denied tax-exempt status under Sec. 501(c)(3) to an organization that planned to provide assistance, primarily to its members in need, in the event of death, marriage or birthday.
• Dean Dorton (https://deandorton.com/insights/): Favorite opening of the week: "If your idea of financial leadership involves staring at spreadsheets until your eyes glaze over, we need to talk."