IRS errors; hiring your kids; investment fund audits; and other highlights from our favorite tax bloggers.
Speculation rules
- Procedurally Taxing (
https://www.taxnotes.com/procedurally-taxing ): Nina Olson argues that the IRS is violating the Taxpayer Bill of Rights in how the agency administers math or clerical errors. - Eide Bailly (
https://www.eidebailly.com/taxblog ): A successfully executed procedural maneuver means that House lawmakers will vote on disaster tax relief. Also, speculation rules when talking about the fate of the Tax Cuts and Jobs Act. - Tax Vox (
https://www.taxpolicycenter.org/taxvox ): Are billionaire taxes falling? Depends on who pays corporate taxes. - The Tax Times (
https://www.thetaxtimes.com ): "Not knowing" holds little water when trying to get out of a FBAR penalty. - Sovos (
https://sovos.com/blog/ ): Keep your friends close and your data closer: How e-invoicing can help with better business decisions. - Meyers Brothers Kalicka (
https://www.mbkcpa.com/insights ): You raised them, you treasure them, you'd change the world for them. But should you hire your kids? - Institute on Taxation and Economic Policy (
https://itep.org/category/blog/ ): How progressive taxes support better teacher pay and better education. - TaxConnex (
https://www.taxconnex.com/blog- ): Once upon a time, your e-commerce clients' selling online meant little more than setting up a website and waiting for the customers to roll in. Online selling today, though, often flows through household-name marketplaces such as Amazon, Etsy, eBay and TikTok. Who's supposed to handle sales tax in these cases?
Across the pond
- Vertex (
https://www.vertexinc.com/resources/resource-library/filter/field_asset_type/blog?page=0 ): The European Union's Value-Added Tax in the Digital Age (ViDA) proposal hits a serious snag. - Tax Foundation (
https://taxfoundation.org/blog ): When policymakers should focus on reforms to ensure that tax policy doesn't stand in the way of household savings; what America could learn from the U.K. - Virginia – U.S. Tax Talk (
https://us-tax.org/about-this-us-tax-blog/ ): Tax tips for Americans planning to move overseas, from the importance of continuing to file U.S. returns to pinning down the location of "home."
In the back door
- Parametric (
https://www.parametricportfolio.com/blog ): Recent higher rates and banking turmoil are well known to investors in preferred securities, but here's why preferreds continue to offer return potential and a tax-advantaged income stream. - National Association of Tax Professionals (
https://blog.natptax.com/ ): This week's "You Make the Call" looks at Shirley, who has a rental house she has owned and used for rental activity for 10 years. Shirley wants to give the property to her son, Joey. Will converting it to personal use be a taxable event, including recognition of depreciation recapture? - Withum (
https://www.withum.com/resources/ ): What commonly triggers audits of an investment fund? - University of Illinois Tax School Blog (
https://taxschool.illinois.edu/blog/ ): What to remind them about the advantages to taxes (and nest eggs) of backdoor Roths. - Summing It Up (
http://blog.freedmaxick.com/summing-it-up ): Your not-for-profit clients' budgets aren't much different from those of their for-profit counterparts, but they do require more careful, detailed attention. - Turbotax (
https://blog.turbotax.intuit.com ): What to remind them about the tax differences between FSAs and HSAs.
