Welcome, 1099-DA; moving out and moving on; not all CRM is alike; and other highlights from our favorite tax bloggers.
Disclosure and discord
- Tax Foundation (
https://taxfoundation.org/blog ): When — and why — popular provisions of the Tax Cuts and Jobs Act will expire. - Don't Mess with Taxes (
http://dontmesswithtaxes.typepad.com/ ): Right after Tax Day, the IRS released the draft 1099-DA, the looming information return for reporting digital asset transactions. Starting with the 2025 tax year, this backstopping will be part of the digital transactions world and the IRS expects to initially receive around 8 billion 1099-DA returns. - Global Taxes (
https://www.globaltaxes.com/blog.php ): Taxpayers in two states are the latest to expand challenges to the Corporate Transparency Act's beneficial ownership information reporting — six new letters that more and more summon an old word: "unconstitutional." - Procedurally Taxing (
https://www.taxnotes.com/procedurally-taxing ): One aspect of the collection due-process case Zienkowski v. Commissioner focuses on filing the notice of federal tax lien in the wrong place (impacting not the validity of the notice but rather its power or usefulness). The case also gives a glance at the processes of OIC and installment agreements, including the less-frequent partial-pay installment agreement. - Institute on Taxation and Economic Policy (
https://itep.org/category/blog/ ): The institute "strongly" supports recommendations from the Treasury Advisory Committee on Racial Equity to expand the tax data disclosed to the Census Bureau by the IRS.
Omnipresence
- Vertex (
https://www.vertexinc.com/resources/resource-library/filter/field_asset_type/blog?page=0 ): As the omnichannel takes over ecommerce (which means the anchoring of online sales to a brick-and-mortar presence), who's going to be responsible for tracking sales tax? - Turbotax (
https://blog.turbotax.intuit.com ): What to remind them about deducting summertime moving expenses. - University of Illinois Tax School Blog (
https://taxschool.illinois.edu/blog/ ): What to remind them about the latest in meal deductions. - TaxConnex (
https://www.taxconnex.com/blog- ): When outsourcing to specialists might be the right answer for sales tax issues. - Armanino (
https://www.armanino.com/articles/ ): How your clients' growing businesses might be missing tax incentives or stepping into tax traps, from real estate to selling out of state. - HBK (
https://hbkcpa.com/insights/ ): Your clients who own construction companies are great at completing projects on time and on budget — but many struggle or fail to build a succession plan for themselves or their business. You can lend a hand.
Flat out
- Withum (
https://www.withum.com/resources/ ): Post-season, how to remind them now that tax information comes in all year round. - National Association of Tax Professionals (
https://blog.natptax.com/ ): Reporting information from a K-1 can be challenging. A three-part webinar series addresses reporting pass-through items on an owner's return, teased here with a few of the top questions from a recent webinar. - Sikich (
https://www.sikich.com/insights/ ): Help your practice's staffing woes with these interview-structuring ideas, from the initial talk to the assessments of behavior and competence and beyond. - Canopy (
https://www.getcanopy.com/blog ): The differences between traditional and accounting CRM for accountants. - Mauled Again (
http://mauledagain.blogspot.com/ ): Those who practice tax law must learn much. A state case involving carbonated water taught the blogger that Perrier isn't just carbonated mineral water extracted from underground but that the water and the carbonic gas are extracted separately from the same geological formation. Cool. It also gave us our favorite headline of the week: "Taxpayer's Argument in Sales Tax Case Falls Flat."
