Rettig speaks; FASB on crypto; going public; and other highlights from our favorite tax bloggers.
Murky depths
- Procedurally Taxing (https://procedurallytaxing.com): Guest blogger and tax attorney Karen Lapekas examines why Commissioner Rettig called out practitioners in the wake of media coverage of new Internal Revenue Service funding.
- Federal Tax Crimes (http://federaltaxcrimes.blogspot.com/): A look at the amicus briefs for Bittner, a case on the Supreme Court docket for this fall that could be huge for American expats.
- Taxbuzz (https://www.taxbuzz.com/blog): Guess what goes down when a senator’s kids write off the price of a private plane.
- Wolters Kluwer (https://www.wolterskluwer.com/en/solutions/tax-accounting-us/industry-news): Tentative decisions in FASB’s recent meeting covered crypto assets; credit cards, HELOCs and other revolving arrangements with active borrowing privileges; trade accounts receivable; and assets not recognized at fair value.
- Gordon Law (https://gordonlawltd.com/blog/): Heaven knows M&A can be complicated — but the water gets a lot murkier when taxes are involved. How tax considerations depend on how a deal is structured.
- Henry+Horne (https://www.hhcpa.com/blogs/): The window tax goes all the way from 1696 to, if you think about it, modern energy credits.
- Palm Beach Accounting and Financial Services (https://www.pbafs.com/blog): Five lessons to take from big lottery winners.
- Mauled Again (http://mauledagain.blogspot.com/): Funny how often an injunction against a misbehaving tax preparer is about as effective as regular bullets against a vampire.
Good questions
- Summing It Up (http://blog.freedmaxick.com/summing-it-up): Cyberattacks are no small matter in M&A and business valuation. This overview of its gravity also includes what you should ask yourself about your own operation before any potential acquirer gets involved.
- HBK (https://hbkcpa.com/insights/): An upcoming webinar will examine cybersecurity insurance, including how to prepare your practice for new coverage or a policy renewal.
- Avalara (https://www.avalara.com/blog/en/north-america.html): Good questions as you start with client advisory services include what kind of clients work best.
- Solutions for CPA Firm Leaders (http://ritakeller.com/blog/): Many a young CPA has decided to strike out on their own and build a firm. Many have done it successfully. Others, not so much. Find the right infrastructure from the beginning.
- National Association of Tax Professionals (https://blog.natptax.com/): This week’s “You Make the Call” looks at Sherri, 64, who’s near retirement age but wants to continue working. Her employer sponsors a high-deductible health plan with an HSA. Although eligible for Social Security and Medicare at 65, she heard that HSA contributions might be prohibited or limited if she enrolls in Medicare or retires. If Sherri keeps working after turning 65, can she still participate in the employer-sponsored health plan and an HSA?
Them’s the breaks
- Taxjar (https://www.taxjar.com/resources/blog): November sales tax due dates.
- Sikich (https://www.sikich.com/insights/): Rising interest rates are producing a bumper crop of pessimism in the agricultural sector.
- Don’t Mess with Taxes (http://dontmesswithtaxes.typepad.com/): Remind them that the IRS is still trying to distribute tax benefits to 9 million families that have yet to claim them, breaks in the form of COVID-19 economic impact payments available as the RRC, the CTC and the EITC.
- AICPA Insights (https://www.aicpa.org/blog): Sometimes public work doesn’t crop up enough on CPAs’ radar, but these insights from government officials detail why a career in government should be considered.
