Crypto moves forward; what to know about gambling; new blog in town; and other highlights from our favorite tax bloggers.
Party time
- Tax Vox (
https://www.taxpolicycenter.org/taxvox ): Major political parties in most developed democracies haven't adapted to the modern fiscal environment in that they can't get their numbers to add up to pay for the changes they advocate. This is plain in the 2024 platforms of America's two parties. - Mauled Again
https://mauledagain.blogspot.com ): Both presidential front-runners also seem to support eliminating federal income (and perhaps employment) taxes on tips. No question this is a ploy to gather votes, especially since the proposal wouldn't amount to much benefit for most affected workers. But why? - Tax Foundation (
https://taxfoundation.org/blog ): If the individual provisions of Tax Cuts and Jobs Act exit next year, tax filing will get more complicated for millions of Americans. Just how did the TCJA simplify taxes? - Sikich (
https://www.sikich.com/insights/ ): A rundown of what business clients should start knowing now about a TCJA sunset. - Tax Notes (
https://www.taxnotes.com/procedurally-taxing ): This first in a series of posts evaluates implications of the Tax Court's unanimous ruling in Fowler v. Commissioner, in which the court made clear that documents transmitted to the IRS through its e-filing system that meet the criteria outlined in Beard v. Commissioner are returns notwithstanding IRS electronic rejection. - Taxbuzz (
https://www.taxbuzz.com/blog ): Recent industry headlines include Coke being ordered to pay a $6-billion tax bill, the IRS busting Employee Retention Credit fraud and California's budget debate of reserves versus revenue volatility. - Institute on Taxation and Economic Policy (
https://itep.org/category/blog/ ): How states are laying the groundwork for future tax battles.
The virtues of virtual
- Gordon Law (
https://gordonlawltd.com/blog/ ): In the wake of Bitcoin Conference 2024 ("more like a political rally than a digital asset conference"), what's next? "After years of waiting, there is optimism that lawmakers will enact policy changes that finally follow public sentiment," the blogger ventures. "Tax reform that is clear, fair and equitable for investors is long overdue." - The Tax Times (
https://www.thetaxtimes.com ): A look at the new final regs requiring custodial brokers to report sales and exchanges of digital assets, including crypto. - Virginia – U.S. Tax Talk (
https://us-tax.org/about-this-us-tax-blog/ ): What to remind them of the legal heft (or lack thereof) of the IRS guidance online.
Stated plainly
- Marcum (
https://www.marcumllp.com/insights ): The Massachusetts fiscal 2025 budget has several notable tax provisions, including a two-month window for individuals and corporations to file past-due returns, updating personal income tax laws to conform with the Tax Code and a joint filer requirement. - AICPA & CIMA Insights (
https://www.aicpa-cima.com/blog ): Following a successful pilot phase in Maryland, the AICPA Registered Apprenticeship for Finance Business Partners has expanded to Florida and California. - TaxConnex (
https://www.taxconnex.com/blog- ): Sales tax down on the farm.
Traps, bets and weeds
- MeyersBrothersKalicka (
https://www.mbkcpa.com/insights ): Marriage can have a lot of snares. One of them is the "survivor trap." - Vertex (
https://www.vertexinc.com/resources/resource-library/filter/field_asset_type/blog?page=0 ): For many businesses, tax season ignites images of overflowing inboxes, late nights scrambling for documents and the dark loom of audits. But what if tax compliance wasn't a burden but an advantage that fueled growth? - The National Association of Tax Professionals (
https://blog.natptax.com/ ): Gambling tips that every pro — every tax pro, that is — should know. - The Rosenberg Associates (
https://rosenbergassoc.com/blog/ ): Can you involve your whole team in strategic planning without it becoming "a complaint session about in-the-weeds topics?" - Wolters Kluwer (
https://www.wolterskluwer.com/en/solutions/tax-accounting-us/industry-news ): The tech-edge latest on audits. - Taxable Talk (
http://www.taxabletalk.com/ ): Favorite title of the week: "Why Did the IRS Send Me a $1.87 Refund?'
New to us
- CLA (
https://www.claconnect.com/en/resources?pageNum=0 ): CliftonLarsonAllen has a long history of expertise, and this blog puts that front and center with recent articles on 529s, build-to-suit exchanges, financing green energy projects and the risks financial institutions face in supply chains. Welcome
