AT Think

In the blogs: Unknown reasons

Changing the dates; forms and functions; under development; and other highlights from our favorite tax bloggers.

Unknown reasons

  • AICPA Insights (https://www.aicpa.org/blog): An oracle's question for the profession: Should return due dates be permanently changed to reduce the crunch?
  • The Wandering Tax Pro (http://wanderingtaxpro.blogspot.com/): Comments about the new 1040 include "still does not completely cover a normal 8½x11 page…God only knows why" and "Form W-2 has expanded, for some unknown reason, to 10 'sub-lines' to separately report a multitude of obscure wage-based income items."
  • Tax Vox (https://www.taxpolicycenter.org/): Congress is considering legislation that may help low-income workers save — but may also miss a chance to end a benefit that allows the very wealthy to accumulate savings tax-free. 
  • Tax Pro Center (https://proconnect.intuit.com/taxprocenter/): Where accounting tech is headed next year, including ERP, AI and beefing up MS Office.
  • Wolters Kluwer (https://www.wolterskluwer.com/en/solutions/tax-accounting-us/industry-news): Clients might be surprised (to put it mildly) to learn that some of their water-conservation rebates from local utilities may be taxable.
  • Procedurally Taxing (https://procedurallytaxing.com): This fifth of a multipart post discusses the Tax Court opinion in Hallmark Research Collective v. Commissioner — and what was wrong with misapplying the stare decisis exception and misconstruing disparagement of deficiency opinions.

Thinking gig

  • National Association of Tax Professionals (https://blog.natptax.com/): The hottest tax questions regarding gig work include withholdings and what period is covered through Sec. 530 relief or by the closing agreement in a VCSP case.
  • Sovos (https://sovos.com/blog/?region=united-states): A pre-season template for reaching first-time 1099-K recipients — those folks who could be a line out your door next season. 
  • Solutions for CPA Firm Leaders (http://ritakeller.com/blog/): Off-site contractors: Should even CPA firms expand their use of these more-affordable people?

Global entries

  • TaxProf Blog (http://taxprof.typepad.com/taxprof_blog/): Are companies' total tax bills paid across all countries in line with global income? And is taxing authority over multinational companies' income divided among countries coherently and fairly?
  • Tax Foundation (https://taxfoundation.org/blog): Chile has a lot of pots boiling for tax reform — but how much will any of the proposals help the country in certain metrics and rankings?
  • Don't Mess with Taxes (http://dontmesswithtaxes.typepad.com/): Italian retailers prefer cash transactions, which probably explains Italian business owners' exclaiming "Salute!" to the 2023 draft budget from new far-right Prime Minister Meloni. The plan includes a measure to permit stores and other businesses to refuse e-payments of less than 60 euros. 
  • Gordon Law (https://gordonlawltd.com/blog/): What to remind them about loss harvesting and crypto.
  • TaxConnex (https://www.taxconnex.com/blog-): How do they figure out VAT, anyway?

And keep in mind

Favs

  • Taxable Talk (http://www.taxabletalk.com/): "IRS: Don't Call Us, Don't Write Us" — a tale of 60 dial-ins and a correspondence black hole.
  • Institute on Taxation and Economic Policy (https://itep.org/category/blog/): And "Lawmakers Seek to Extend Tax Break for 'Research' That Corporations Use to Develop Frozen Foods, New Beer Flavors, Casino Games and Tax Avoidance." What flavors?
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