TikTok and taxes; future of L.A. revenues; engagement limits; and other highlights from our favorite tax bloggers.
To be continued?
- CLA (
https://www.claconnect.com/en/resources?pageNum=0 ): Disagreement abounds (even in the same party) on how to fund and pass a Tax Cuts and Jobs Act renewal. Provisions that may be renewed include the 20% qualified business income deduction, and President Trump has voiced support for reducing the corporate tax rate on domestic manufacturing. A look at other possible federal tax policies that could impact transportation and logistics companies. - Don't Mess with Taxes (
http://dontmesswithtaxes.typepad.com/ ): Extending the expiring provisions could cost as much as $4 trillion over the next 10 years, according to one estimate. While most supporters of the tax cuts might quibble with the amount, there is one Republican contingent that's focused on costs. - Turbotax (
https://blog.turbotax.intuit.com ): If TikTok or its social media brethren shut down now or in the future, what could be the effect on creators' taxes? - Mauled Again (
http://mauledagain.blogspot.com/ ): Keeping alive a long tradition, the Fair Tax Act has again been introduced. How this recent version of an idea paraded for a quarter century isn't what sponsors claim it to be. - The Tax Times (
https://www.thetaxtimes.com ): Another John Doe summons for the IRS, this one authorizing the agency to make entities produce info about U.S. taxpayers who may have used the services of a multinational group known as Trident Trust. - Taxbuzz (
https://www.taxbuzz.com/blog ): How the Palisades Fire could reshape L.A.'s tax revenues and budget. - Tax Foundation (
https://taxfoundation.org/blog ): Facing a projected $3 billion deficit in FY 2026, Maryland's governor has included about $1 billion in proposed tax increases in his budget proposal. How might they hurt the state's competitiveness? - Avalara (
https://www.avalara.com/blog/en/north-america.html : How far will New Hampshire go to stop remote sales tax collection? - Tax Pro Center (
https://accountants.intuit.com/taxprocenter/ ): Fears of AI and seeing all the roads possible: Two of the five key areas where the profession can bridge accounting students' gap between education and practice.
It begins at home
- Dean Dorton (
https://deandorton.com/insights/ ): Maybe It Was the Holidays Dept.: January often brings a surge in divorce filings, prompting family law attorneys to seek out financial pros. What to remind them, in such sad, exhilarating, terrifying and rage-filled moments, about the advantages of a forensic accountant. - Boyum & Barenscheer (
https://www.myboyum.com/blog/ ): What to remind clients about relatively new charitable gift annuities. - U of I Tax School (
https://taxschool.illinois.edu/blog/ ): Among upcoming webinar topics, a look at the Social Security Fairness Act and the Illinois Gives Tax Credit Act. The latter will provide a state income tax credit of 25% for qualified contributions made to permanent endowment funds held by qualified community foundations, up to $100,000. - TaxConnex (
https://www.taxconnex.com/blog- ): When Canadian sellers consider a southward migration, what should they expect to encounter regarding U.S. sales tax? - Withum (
https://www.withum.com/resources/ ): Why has it been a good idea for your practice to wait until now to start its "AI journey?"
Latest words
- Canopy (
https://www.getcanopy.com/blog ): On the Clock Dept.: Just like a job description lays out what you expect of your team members, a client contract lays out specifically when an engagement should start and stop. - The National Association of Tax Professionals (
https://blog.natptax.com/ ): The IRS has updated guidance reminding your employer clients that "correct and consistent" reporting helps prevent reclassification of a non-employee to an employee. - Sikich (
https://www.sikich.com/insights/ ): The Department of Education has updated guidance on calculating treatment of institutions' long-term debt and leases. - Vertex (
https://www.vertexinc.com/resources/resource-library/filter/field_asset_type/blog?page=0 ): Brazil has enacted Complementary Law 214/2025, marking "a new era" for that nation's consumption tax system. - Taxjar (
https://www.taxjar.com/resources/blog : February sales tax due dates. - The Rosenberg Associates (
https://rosenbergassoc.com/blog/ ): Favorite opening of the week: "Ask random people on the street — or, even better, business executives — if there have been profound changes in the accounting profession over the past 10-20 years. The answer you'll most likely get is … ."
