In the blogs: Sweet liberty

Change is not at hand; a question for brokerages; the IRS Simple Installment; and other highlights from our favorite tax bloggers.

Sweet liberty

• Tax Vox (https://www.taxpolicycenter.org/taxvox): By cutting funding and staff, Congress and President Trump have largely ended the Biden administration's plans for "transformational change" at the IRS.
• The Tax Times (https://www.thetaxtimes.com): The IRS may be facing eradication, but it still had long, long arms when it came to a former Florida resident living in Italy who didn't file tax returns.
• Berkowitz Pollack Brant (https://www.bpbcpa.com/articles-press-releases/): Beneficial ownership information reporting requirements do still apply … to some. A look at the remaining narrow group that still must report.
• Eide Bailly (https://www.eidebailly.com/taxblog): Republicans wished they could focus on extending the Tax Cuts and Jobs Act before this year runs out. Then came "Liberation Day."

The end's in sight

• Tax Notes (https://www.taxnotes.com/procedurally-taxing): Favorite headline of the week: "What to Do When the IRS Does Nothing — Math Error Edition."
• The Wandering Tax Pro (http://wanderingtaxpro.blogspot.com/): Why can't all brokerage and mutual fund houses produce year-end tax reporting statements in the same format with the same amount of detail?
• Meyers Brothers Kalicka (https://www.mbkcpa.com/insights): What to remind them about the self-employed health insurance premium deduction.
• Taxbuzz (https://www.taxbuzz.com/blog): What to remind them about key property deductions, with an eye to short-term rental versus long-term.
• The National Association of Tax Professionals (https://blog.natptax.com/): Nice to know it's there if you need it: A look at the new IRS Simple Installment Agreement.
• Taxable Talk (http://www.taxabletalk.com/): "Bozo Tax Tip #5: Procrastinate!"

Breaking through the noise

• Yeo & Yeo (https://www.yeoandyeo.com/resources): Slower is not always better: How to spot malware on your practice's devices.
• Boyum & Barenscheer (https://www.myboyum.com/blog/): How to turn your real estate client into a tax-favored real estate professional.
• Withum (https://www.withum.com/resources/): Power and Responsibility Dept.: Transparency, trust and efficiency are the backbone of financial services. How blockchain, a game changer that goes deeper than cryptocurrency, is expected to change the financial services industry forever, from smart contracts to cross-border payment transactions and tokenization.
• CLA (https://www.claconnect.com/en/resources?pageNum=0): AI at Work: Are your practice's employees using it? Are you ready for the risks?
• Vertex (https://www.vertexinc.com/resources/resource-library/filter/field_asset_type/blog?page=0): Once in a while, amid routine noise of frequent administrative or legislative tweaking of tax regimes, there are truly significant changes. E-invoicing is a big deal.
• Sovos (https://sovos.com/blog/): As governments continue to shift to continuous transaction controls systems such as e-invoicing and real-time e-reporting, another trend organically unfolds as part of this move towards tax digitization: pre-filled returns.
• Armanino (https://www.armanino.com/articles/): Let biz clients know that modern internal audits can not only pinpoint areas that need improvement but also future trends and emerging risks.
• TaxProf Blog (http://taxprof.typepad.com/taxprof_blog/): What effect does tax policy to induce manufacturing investment have on employee earnings?

Illogical yet revolutionary

• Current Federal Tax Developments (https://www.currentfederaltaxdevelopments.com/): The Massachusetts Appeals Court's decision in Craig H. Welch & Another vs. Commissioner of Revenue provides guidance for navigating the state's income tax for non-residents, particularly concerning capital gains from the sale of stock.
• Institute on Taxation and Economic Policy (https://itep.org/category/blog/): Philadelphia Mayor Cherelle L. Parker's proposal to cut the city's business income and receipts tax, based off the Philadelphia Tax Reform Commission's recommendation, is "illogical and imprudent."
• Tax Foundation (https://taxfoundation.org/blog): South Carolina lawmakers and their governor intend to have the state join the flat tax revolution. "Unfortunately, while the plan would implement a low, flat rate that is highly competitive with other states' systems, it yields a significant tax increase for many households that have historically had very little liability."