Jackpot tax bite; still a hard world; it’s your time; and other highlights from our favorite tax bloggers.
More disasters
- Taxing Subjects (https://www.drakesoftware.com/blog): The IRS aims to eliminate 200 million pieces of paper every year. A look at the next few steps in this grand plan.
- Procedurally Taxing (https://procedurallytaxing.com): The blogger finds Government Accountability Office reports on tax subjects to be an excellent source of data not otherwise available or easily available. GAO-23-105552, “IRS Could Better Manage Alternative Dispute Resolution (ADR) Programs to Maximize Benefits,” is no exception.
- Current Federal Tax Developments (https://www.currentfederaltaxdevelopments.com/): Proposed regs would add monetized installment sales as a listed transaction, subject to the reporting provisions found in the regulations under Sec. 6011 and the penalty rules of Sec. 6707A.
- Taxable Talk (http://www.taxabletalk.com/): The recent IRS announcement that crypto staking constitutes income should surprise no one.
- TaxProf Blog (http://taxprof.typepad.com/taxprof_blog/): We are, simply, having more disasters, with a corresponding increase in FEMA disaster declarations over time as well — with resulting tax and filing implications.
- Mauled Again (http://mauledagain.blogspot.com/): The recent excitement about a lottery prize topping $1 billion has generated a blizzard of claims that the “government” or “the IRS” will “take” more than half the winnings. A discussion of how whoever makes this claim is wrong and whoever repeats it has failed to do independent research.
- Wolters Kluwer (https://www.wolterskluwer.com/en/solutions/tax-accounting-us/industry-news): So what should and should not show up on the much-heralded 2023 1099-K?
Looking murky
- Avalara (https://www.avalara.com/blog/en/north-america.html): The world’s open for business again — and cross-border commerce is just as tough as ever.
- Tax Vox (https://www.taxpolicycenter.org/taxvox): Inflation, stock and oil volatility, the shift in federal monetary policy and changes in consumer spending: With more fiscal data coming in, the long-term health of state budgets looks murky. But due to differences in state economic conditions, employment rates, industry compositions and tax structures, factors are affecting individual states differently.
- Sovos (https://sovos.com/blog/): Tax considerations in California, among others, as we head into unclaimed property season.
- Taxjar (https://www.taxjar.com/resources/blog): Does Kentucky tax services?
- TaxConnex (https://www.taxconnex.com/blog-): Telecommunications presents tricky questions on taxation. Many of the state/local taxes and fees can be exempted, for instance. Exempting regulatory fees is another story.
- Taxbuzz (https://www.taxbuzz.com/blog): Pennsylvania has expanded its property tax and rent rebate program for the first time in 17 years.
The shining
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