Foreshadowing TCJA talk; BOI ping-pong; rightful claims; and other highlights from our favorite tax bloggers.
Meltdown mode
- Tax Foundation (
https://taxfoundation.org/blog ): The Congressional Budget Office and the Joint Committee on Taxation recently published analyses of extending provisions of the TCJA that provide insights on the looming debate. - Tax Notes (
https://www.taxnotes.com/procedurally-taxing ): Can the IRS recover erroneous Employee Retention Credit refunds by assessment? - CLA (
https://www.claconnect.com/en/resources?pageNum=0 ): The year’s best real estate-related CLA blogs include coverage of opportunity zones, IRS disaster relief of 1031 exchanges, and implications of intangible assets, among other tax topics. - Taxbuzz (
https://www.taxbuzz.com/blog ): The accounting world is “in meltdown mode” thanks to the sudden shutdown of Bench, a Canada-based accounting startup. Thousands of entrepreneurs are losing access to their financial records and tax documents. What does this mean for you? - Avalara (
https://www.avalara.com/blog/en/north-america.html : From transaction counts in Alaska and food in Kansas to diapers in Nevada, a look at the sales tax changes that kick in on Jan. 1.
Back and forth and back
- Dean Dorton (
https://deandorton.com/insights/ ): Fave headline of the week (clearest, too): “BOI reporting — what a mess!” - Eide Bailly (
https://www.eidebailly.com/taxblog ): So it’s on again? The reporting requirement or the stay? What do we mean by “stay?” What do we mean by “mean?” After “a confusing sequence of events,” FinCEN has updated its page and says it will accept voluntary reports, but penalties for non-reporting will not be applied until further notice. - U of I Tax School (
https://taxschool.illinois.edu/blog/ ): “This is certainly not over.” - Taxable Talk (
http://www.taxabletalk.com/ ): “This so reminds me of a comedy, with our heads being forced to turn first to the left and then to the right.” Also, at least another topic’s clear: The 2024 Tax Offender of the Year.
Only fair
- The Rosenberg Associates (
https://rosenbergassoc.com/blog/ ): How do you know if partners feel they’re rewarded fairly? How can a compensation system cultivate cultural change? Would any of your partners recommend your firm’s system to a peer at a firm of similar size? A recent survey might offer answers. - The National Association of Tax Professionals (
https://blog.natptax.com/ ): This week’s “You Make the Call” looks at Jane, who earns $35,000 a year and receives non-taxable alimony and child support. She shares custody of her 2-year-old son with Mark. Their son lives with Jane during the week and stays with Mark on weekends. Which parent is entitled to claim their son? - TaxConnex (
https://www.taxconnex.com/blog- ): Whether you’re consulting for a deal or cleaning up your own operation for M&A, why sales tax history matters. - Don’t Mess with Taxes (
http://dontmesswithtaxes.typepad.com/ ): What to remind them about the life events that could affect taxes. - Vertex (
https://www.vertexinc.com/resources/resource-library/filter/field_asset_type/blog?page=0 ): The rise of new digital infrastructure, or “digitalization” has enabled opportunities for organizations — and has prompted a change in the way tax and finance teams operate.
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