Welcome to Tax Court; the subscription model; new blog on the block; and other highlights from our favorite tax bloggers.
March madness
- Eide Bailly (
https://www.eidebailly.com/taxblog ): Favorite headline of the week: "Capitol Hill Recap: (Base)line in the Sand." Congressional lawmakers are writing legislation to extend expiring provisions of the Tax Cuts and Jobs Act (passing that package is expected to take up much of the rest of the year). A big question concerns the "baseline" to estimate the cost of the legislation. - Tax Foundation (
https://taxfoundation.org/blog ): The Inflation Reduction Act introduced tax breaks, many of which seem to be more expensive than originally predicted. Repealing these subsidies is an option now, but repeal may prove, as House Speaker Johnson said, "somewhere between a scalpel and a sledgehammer." Four possible paths for lawmakers. - TaxProf Blog (
http://taxprof.typepad.com/taxprof_blog/ ): A new paper examines the 16th Amendment's long-time granting to Congress the authority to define and tax income. Some on the Supreme Court have started to revive the idea of limiting congressional power to determine what income is. Could this be a new era in constitutional tax jurisprudence? - Tax Notes (
https://www.taxnotes.com/procedurally-taxing ): Nina Olson addresses how staffing cuts to the IRS could mean erosion of the right to a fair and just tax system. Several other recent developments concerning the Taxpayer Advocate Service also caught her eye "and portend no good for taxpayers of all types." - Institute on Taxation and Economic Policy (
https://itep.org/category/blog/ ): As many state legislatures near the final buzzer, welcome to March Tax Policy Madness. - Don't Mess with Taxes (
http://dontmesswithtaxes.typepad.com/ ): How a growing number of taxes might soon have to hit the roads. - Taxing Subjects (
https://www.drakesoftware.com/blog ): Second nature to you isn't necessarily second nature to them: Actionable steps to take now with clients given recent tax changes. - Taxable Talk (
http://www.taxabletalk.com/ ): "Bye, Bye, BOI."
Act now
- Boyum & Barenscheer (
https://www.myboyum.com/blog/ ): New IRS FAQs that address some problems with income taxes and the Employee Retention Credit are "looooong overdue, but they do provide some answers if you are inclined to take the FAQ from the IRS and act upon them." - TaxConnex (
https://www.taxconnex.com/blog- ): How your eBay-selling clients can simplify sales tax obligations. - Palm Beach Accounting and Financial Services (
https://www.pbafs.com/blog ): Does your client need a will, a trust or both? - The National Association of Tax Professionals (
https://blog.natptax.com/ ): This "You Make the Call" looks at Jessica, who will purchase a new electric vehicle this year. She knows the federal clean vehicle tax credit but prefers to apply it directly at the dealership rather than waiting to claim it on her return. Can she do that? - Avalara (
https://www.avalara.com/blog/en/north-america.html ): What to remind them about the Texas franchise tax (which does occur in Texas and is a tax but, unlike similar levies, has little to do with franchises). - CLA (
https://www.claconnect.com/en/resources?pageNum=0 ): What manufacturing clients need to know about budgeting and forecasting. - Armanino (
https://www.armanino.com/articles/ ): Being CFO of a family office is crazy even before banking reconciliations, tax compliance, payroll, bookkeeping and more. Can AI and robotic process automation help? - Global Taxes (
https://www.globaltaxes.com/blog.php ): A recent federal court ruling could allow expats to use foreign tax credits to offset NIIT liability. - Dean Dorton (
https://deandorton.com/insights/ ): What should K-12 schools look for in an accounting system?
Seamwork
- Taxpayer Advocate Service (
https://www.taxpayeradvocate.irs.gov/taxnews-information/blogs-nta/ ): A look at one of the Taxpayer Associate and Service Act's potential game-changers: the ability of taxpayers to bring refund suits in Tax Court. - Vertex (
https://www.vertexinc.com/resources/resource-library/filter/field_asset_type/blog?page=0 ): A major retail conference has offered a peek at where AI and other headline trends will impact the industry. Several, including the holistic concept of a "seamless" customer experience, have big tax implications. - TaxProCenter (
https://accountants.intuit.com/taxprocenter/ ): In holistic accounting services, the subscription model and value pricing are a shift from hourly billing toward emphasizing intrinsic value to clients. What to know to begin your own pivot. - The Rosenberg Associates (
https://rosenbergassoc.com/blog/ ): A deeper look at private equity amid firm M&A, including advantages to accounting practices and the overarching need for a firm-by-firm approach. - HBK (
https://hbkcpa.com/insights/ ): Congrats on the firm's "Best in Accounting" nod from ClearlyRated. - Canopy (
https://www.getcanopy.com/blog https://www.getcanopy.com/blog) : Task tracking, automated workflows, collaboration and communication: What to consider if you're thinking about accounting project management software. - Sikich (
https://www.sikich.com/insights/ ): The latest "Sikich on Demand" webinar recaps GASB statements on "Accounting Changes and Error Corrections," "Compensated Absences" and "Certain Risk Disclosures."
New to us
- Beyond the Numbers (
https://hauserjonesandsas.com/blog/ ) Hauser Jones & Sas in Bellevue, Washington, does a range of audit, tax and consulting services, and its blog offers an equally fine array of tax prep, accounting, legislative developments and more. Recent topics include credit union audit and governance, lending risks and underpayment penalties. Welcome!
