Total social media; federal tax prospects; cannabis trade; and other highlights from our favorite tax bloggers.
Chapter and Metaverse
- Taxable interview (http://www.taxabletalk.com/): A real cyber attack, from the trenches.
- National taxpayer lawyer (https://www.taxpayeradvocate.irs.gov/taxnews-information/blogs-nta/): Now is the time for the IRS to expand online offerings and amenities for taxpayers. Maybe the already taken approval steps could be a gateway?
- Avalara (https://www.avalara.com/blog/en/north-america.html): Within four years, nearly a third of global organizations will be selling products in the virtual world. What will be the tax consequences?
- CPA growth trends (https://www.cpagrowthtrends.com/): What companies should look for in social media management software.
- Solutions for managers of CPA companies (http://ritakeller.com/blog/): Two recent tech posts include when companies think they will finally go completely online.
- Taxation https://www.taxpolicycenter.org/): While President Biden and the Democratic Democrats are making another push to reach a compromise on social spending, climate change and the tax bill, a key question is what they want to do with the child tax deduction. The Tax Policy Center analyzed five options showing how lawmakers could partially restore the expanded 2021 version of the credit.
- Parametric (https://www.parametricportfolio.com/blog): Another look at “the long way ahead” for Biden’s tax proposal – especially considering what could be another crucial midterm election year.
- AICPA Insights (https://www.aicpa.org/blog): While this niche is exploding, there is a selection of cannabusiness-specific best practices and an overview of critical legislation.
- treasure jar (https://www.taxjar.com/resources/blog): Which states still charge sales taxes on COVID test kits (and why)?
- sikich (https://www.sikich.com/insights/): A practical guide to help customers always take advantage of employee retention credit.
- TaxMama (http://taxmama.com): Some of the season’s most difficult compliance issues included home offices, Series I bonds and detentions.
- Department of Taxation and Economic Policy (https://itep.org/category/blog/): Roundup of recent state tax measures includes a major budget agreement in Connecticut to temporarily increase the state tax deduction and create a new one-year CTC, and the Arizona Supreme Court’s rejection of a veto referendum on the vote that would have allowed voters to determine the fate of a new income tax.
- Tax fund (https://taxfoundation.org/blog): Yes, the saga of Proposition 208, Arizona’s income tax, seems to have finally reached its conclusion. The only remaining uncertainty is when the state will move to a flat personal income tax.
- Current federal tax developments (https://www.currentfederaltaxdevelopments.com/): I Valentine v. Commissioner, The tax court agreed with the IRS that a disabled veteran could only exclude from income designated disability payments she received from the Veterans Administration, while payments she received separately as part of his military pension payments were taxable.
- Do not mess with taxes (http://dontmesswithtaxes.typepad.com/): When U.S. residents move internationally to work, they still have to file and pay taxes on their overseas income. But Uncle Sam gives tax breaks to Americans living and working abroad. Here is an overview.
manna from heaven
- Boyum and Barenscheer (https://www.myboyum.com/blog/): Something to remind them of donations and deductions.
- Gordon’s Law (https://gordonlawltd.com/blog/): Something to remind them of their various options for getting rid of taxes.
- taxbuzz (https://www.taxbuzz.com/blog): How to comfort them when faced with an IRS tax lien notice.
- tax warriors (https://www.taxwarriors.com/blog): A look at the latest letters from the IRS asking for a little more information on investors’ actions in the Qualified Opportunity Zone.
- John R. Dundon II EA (http://www.johnrdudon.com/): An overview of new rules proposed by the IRS to prevent methods that can be used to extend the increased basic exclusion amount for housing and gift taxes if it falls back to the lower level after the end of 2025.
- tax time (https://www.thetaxtimes.com): A prosecutor has asked a federal judge to order Paul Manafort, Donald Trump’s presidential campaign leader in 2016, to pay nearly $ 3 million to the U.S. government for non-disclosure of hidden foreign income in more than two dozen shell bodies and foreign accounts. (Personally, we can hope that this case gives us the opportunity to repeat our favorite title from the last decade: “Manifortitude.”)
- Wolters Kluwer (https://www.wolterskluwer.com/da/solutions/tax-accounting-us/industry-news): What to remind them about crowdfunding and tax, with this week’s most truthful subtitle: “Form 1099-K can be confusing”.