Saying 'yes' too much; M&A mania; partners' income spread; and other highlights from our favorite tax bloggers.
This might hurt a bit
- Tax Notes (
https://www.taxnotes.com/procedurally-taxing ): Good news for some taxpayers, anyway: In Tax Court deficiency cases subject to the ruling in Culp v. Commissioner, IRS attorneys are usually exercising their discretion not to pursue late-filing defenses and settling those cases on merits — meaning late-petitioning taxpayers living in the Third Circuit are treated better than late-petitioning taxpayers living in other circuits. - TaxProf Blog (
http://taxprof.typepad.com/taxprof_blog/ ): Braced for the Worst Dept.: When a dentist tries to hide $3.5 million in taxable income in an abusive shelter. - Gordon Law (
https://gordonlawltd.com/blog/ ): What to remind them about a CP2501, starting with not dawdling in a response. - Armanino (
https://www.armanino.com/articles/ ): Many companies offer early exercise to employees to enhance recruiting efforts. Tom Bondi, tax partner at Armanino, discusses why allowing an early exercise provision for ISOs can be a bad idea. - Tax Vox (
https://www.taxpolicycenter.org/taxvox ): Former President Trump's proposal to repeal the $10,000 cap on the SALT deduction would cut 2025 taxes an average of more than $140,000 for the highest-income 0.1% of families but do little for us in steerage, according to a new study. - Mauled Again (
http://mauledagain.blogspot.com/ ): Verifying a lie about increasing taxes on Social Security benefits. - The National Association of Tax Professionals (
https://blog.natptax.com/ ): The deadline for beneficial ownership information reporting, a big one, is now just some 12 weeks off. - Institute on Taxation and Economic Policy (
https://itep.org/category/blog/ ): Favorite headline of the week: "Special Tax Session Results? 'Reply Hazy, Try Again' "
Yes, chef
- Tax Foundation (
https://taxfoundation.org/blog ): Why the economic effects of taxes (including tariffs) do matter. - Canopy (
https://www.getcanopy.com/blog ): In the quest to keep clients happy, many firms adopt a "yes to everything" mentality. Seems harmless, even admirable, to accommodate every whim and demand — but it can lead to scope creep, unrealistic expectations and, ultimately, a strain on resources. A look at the hidden costs of "yes to everything" and how to break free of it. - AICPA & CIMA Insights (
https://www.aicpa-cima.com/blog ): At the AICPA & CIMA Engage conference earlier this year, sessions on M&A had some of the highest attendance among practice management topics, attracting CPAs from firms of all sizes. What's driving the interest? - The Rosenberg Associates (
https://rosenbergassoc.com/blog/ ): A sizable spread in partner income at a firm can have many causes, including disparate seniority. For most multipartner and multigeneration accounting firms, the situation gets more complicated. - Surgent Income Tax School (
http://www.theincometaxschool.com/blog/ ): The risks to the many reasons that tax pros put off continuing education. - Vertex (
https://www.vertexinc.com/resources/resource-library/filter/field_asset_type/blog?page=0 ): How the right tech can address taxes, fees and both huge complexities of cross-border commerce.
Security blanket
- Virginia – U.S. Tax Talk (
https://us-tax.org/about-this-us-tax-blog/ ): American clients who are considering working overseas may face a few wrinkles regarding Social Security. - Avalara (
https://www.avalara.com/blog/en/north-america.html ): As of next Jan. 1, Maine nonprofits will finally be eligible for a blanket sales tax exemption. - Withum (
https://www.withum.com/resources/ ): California's updates include tax sourcing sales of intangible assets, credit for manufacturing equipment and R&D, and a revised definition of "high-volume third-party seller" for sales taxes. - CLA (
https://www.claconnect.com/en/resources?pageNum=0 ): What to remind them about the latest in anti-money-laundering programs. - Boyum & Barenscheer (
https://www.myboyum.com/blog/ ): What to remind them about the differences between profit and cash flow, especially how taxes (especially owing them) are concerned.
