Updating engagement letters; tax neutrality; the usual losers; and other highlights from our favorite tax bloggers.
In full swing
- MBK (
https://www.mbkcpa.com/insights ): Timing income and deductions, deferring employee bonuses and advance payments: Tax planning for biz clients should be year-round but never seems to be, so here’s what to remind them of in 2024’s final weeks. - Vertex (
https://www.vertexinc.com/resources/resource-library/filter/field_asset_type/blog?page=0 ): Many processes throughout organizations, and their tax groups, are hampered by bottlenecks. What happens when AI and related technologies remove those bottlenecks? - Sovos (
https://sovos.com/blog/ ): The Council of the European Union has released a new proposal regarding the VAT in the Digital Age reform. - Institute on Taxation and Economic Policy (
https://itep.org/category/blog/ ): With a presidential election this fall and many provisions of 2017’s Trump tax law expiring at the end of 2025, the debate over tax policy and economic fairness is in full swing. - AICPA & CIMA Insights (
https://www.aicpa-cima.com/blog ): Everything old is new again: Best tactics with the stalwart engagement letter in light of tax and reg developments such as beneficial ownership information reporting. - Tax Foundation (
https://taxfoundation.org/blog ): It’s been a whisker more than 55 years since two students sent the first message across the Advanced Research Projects Agency Network between computers at four universities, spanked that network’s tush and gave birth to the internet. How has that baby changed taxes?
Disturbing trends
- Global Taxes (
https://www.globaltaxes.com/blog.php ): Exodus may be on many Americans’ minds these days, but leaving the U.S. does come with tax complications. - Don’t Mess with Taxes (
http://dontmesswithtaxes.typepad.com/ ): Gross gambling revenue reaching an all-time high of $60.5 billion in 2022, notes a recent TIGTA report. Yet the IRS has not enforced income tax return filing requirements for those who received a W-2G. - Mauled Again (
http://mauledagain.blogspot.com/ ): Is tax neutrality an achievable goal? A straightforward question with many parts. - Taxable Talk (
http://www.taxabletalk.com/ ): A breakdown of the Tax Foundation’s 2025 Tax Foundation’s “State Tax Competitiveness” analysis, featuring “some new winners but the usual losers.” - TaxProf Blog (
http://taxprof.typepad.com/taxprof_blog/ ): There’s a disturbing trend of federal agencies assessing fees to be paid by taxpayers via administrative rulemaking, an unconstitutional arrangement that leaves Americans in danger of taxation without representation.
Pass the aspirin
Horse sense
- U of I Tax School (
https://taxschool.illinois.edu/blog/ ): Who at the IRS is actually there to help tax pros? A look at the sometimes surprisingly long list. - Tax Notes (
https://www.taxnotes.com/procedurally-taxing ): One of the hottest topics related to the centralized partnership audit regime are administrative adjustment requests (AARs). Common questions: What adjustments are required to be included on the AAR and how can the IRS make adjustments to an AAR? Some practical tips for those preparing AARs. - HBK (
https://hbkcpa.com/insights/ ): Deduct the Halls Dept.: Florida has issued Tax Information Publication 24A01-14 to address the taxability of holiday decorations. - Taxjar (
https://www.taxjar.com/resources/blog ): Exactly how much time can a business save monthly by automating their filing and remittance? The answer, following an analysis of industry benchmarks. - The Buzz About Taxes (
http://thebuzzabouttaxes.com/ ): A detailed look at the U.S./India tax treaty. - Dean Dorton (
https://deandorton.com/insights/ ): Use, placed in service, even (and it seems a little sad) depreciation: The often-overlooked financial side, specifically the accounting and tax treatment, of purchasing a horse. - Withum (
https://www.withum.com/resources/ ): Congrats to the firm, named as one of this year’s Fortune Best Workplaces for Women.
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