In the blogs: Lame old, lame old

December 6, 2022

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Preparers’ fault; lucky or otherwise; maybe; and other highlights from our favorite tax bloggers.

Lame old, lame old

Eide Bailly (https://www.eidebailly.com/taxblog): A crowded legislative agenda could push a year-end tax bill off the lame duck to-do list.
Tax Vox (https://www.taxpolicycenter.org/): This Congress will spend the next several weeks arguing the fate of several key provisions of the Tax Cuts and Jobs Act and the 2021 American Rescue Plan that either have expired or will disappear at the end of this year. New analysis finds that extending them all would reduce federal revenues by about a trillion dollars from 2023 to 2032 — but distribution of benefits could vary widely.

‘Fun’ back in ‘refund’

Lucky or not

University of Illinois Tax School (https://taxschool.illinois.edu/blog/): For pass-through entities in states other than New York and California, there’s still time to reduce S corp shareholders’ and partners’ 2022 tax burdens through the deduction.
Federal Tax Crimes (http://federaltaxcrimes.blogspot.com/): Carlos Kepke, a Houston lawyer, was prosecuted as an enabler of offshore tax evasion for Robert Brockman and Robert F. Smith. Kepke was set to go to trial on tax crimes charges but died. One issue hanging: Who paid his fees?
Boyum & Barenscheer (https://www.myboyum.com/blog/): First your nonprofit clients had to deal with the pandemic; then came inflation and recession. Where do operating reserves fit into planning?
AICPA Insights (https://www.aicpa.org/blog): How heritage influences the profession — in this case, for a member of the Samish Indian Nation, a small tribe in the San Juan Islands of Washington.
Sovos (https://sovos.com/blog/?region=united-states): The Great Resignation may be behind us but more than ever people pursue a side gig. What does that mean for 1099s and tax reporting?

Let me breathe

HBK (https://hbkcpa.com/insights/): Your construction clients might not get paid for 90 days after the job — yet costs for supplies, labor et al add up. How to help them understand how to improve a cash-flow process.
Virginia – US Tax Talk (https://us-tax.org/about-this-us-tax-blog/): Fav opening of the week: “Foreigner asks: ‘Can I breathe American air without being subject to U.S. tax?’ The answer to that question is a big, fat ‘MAYBE.'”

Long-term, baby

Questions?

The Rosenberg Associates (https://rosenbergassoc.com/blog/): Remote work has affected the CPA profession in recent years — challenges unseen in the profession’s history. A survey looks at how remote work has impacted firms. Productivity and client relationships haven’t suffered, but….
Global Taxes (https://www.globaltaxes.com/blog.php): This year brought tax changes for international investors, many rippling into 2023. An overview.
Solutions for CPA Firm Leaders (http://ritakeller.com/blog/): Does never saying “No” to an employee sound like a long-term plan?
Canopy (https://www.getcanopy.com/blog): Are you looking for accounting software or practice management software?