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
- Summing It Up (
http://blog.freedmaxick.com/summing-it-up ): What to remind them about the Employee Retention Credit, the IRS and the latter's crosshairs. - Taxjar (
https://www.taxjar.com/resources/blog ): January sales tax due dates. - Parametric (
https://www.parametricportfolio.com/blog ): The smartest ways to give, especially considering taxes. - Sikich (
https://www.sikich.com/insights/ ): The Financial Accounting Standards Board has proposed amendments that would provide relief for common control lease arrangements. Though they wouldn't kick in until early 2023, how could they affect your clients as proposed? - Eide Bailly (
https://www.eidebailly.com/taxblog ): A "go-to resource" for understanding certain energy provisions in the Inflation Reduction Act. - Avalara (
https://www.avalara.com/blog/en/north-america.html ): Two questions for your clients who sell online: What is a nexus study? And do you need one? - Canopy (
https://www.getcanopy.com/blog ): How to renew your PTIN in 15 minutes.
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?