The changing CPA exam; evils of voicemail; CHIPS may fall; and other highlights from our favorite tax bloggers.
Open FBAR
- Virginia – US Tax Talk (https://us-tax.org/about-this-us-tax-blog/): How in “the taxpayer-friendly case” Aroeste v. United States, “sure to be appealed by “the undoubtedly furious IRS,” the court determined that FBAR filing is not required if the individual is entitled to be treated as a resident of a foreign country under a tax treaty.
- Marcum (https://www.marcumllp.com/insights): And yes, we sure knew about FBARs a few days ago — and now we know about Alex Bittner and how to calculate non-filing penalties, too.
- Global Taxes (https://www.globaltaxes.com/blog.php): The Bittner decision also featured a noteworthy split (aisle-wise, if we can say that yet about the Supreme Court).
- Federal Tax Crimes (http://federaltaxcrimes.blogspot.com/): “Avowed textualists came down on both sides of the issue.”
- Taxable Talk (http://www.taxabletalk.com/): “There is good news: Logic and common sense prevailed.”
No fault of their own
- National Association of Tax Professionals (https://blog.natptax.com/): Does a foster child younger than 18 qualify? Do “childless taxpayers” have an age restriction of 25 to 65 but there isn’t an age limit for taxpayers with children? The Earned Income Tax Credit comes with a lot of questions — not a few of which bring risk of audit. Some tips when calculating this credit.
- Armanino (https://www.armanino.com/): The Securities and Exchange Commission’s final pay-versus-performance disclosure rules, published in August, expansively update the way most public companies report executive compensation. These FAQs outline what you and your clients need to know about the rules and what actions to take now to comply with disclosure requirements.
- Taxbuzz (https://www.taxbuzz.com/blog): Homeowners who pay homeowners’ association fees often wonder if what they paid over the year can be deducted from their federal income taxes. What to tell them.
- Sikich (https://www.sikich.com/insights/): It’s been a long time since late December: What to remind them about how SECURE 2.0 altered required minimum distributions.
- Palm Beach Accounting and Financial Services (https://www.pbafs.com/blog): Three perpetual unknowns that retirement planning can miss.
- Tax Pro Center (http://proconnect.intuit.com/taxprocenter): Regarding cybersecurity, one trenchant observation about spam: lousy grammar.
Remote control
- HBK (https://hbkcpa.com/insights/): The Ohio Supreme Court is about to hear arguments on municipal income tax refunds for 2020. At issue: whether a taxpayer is entitled to a refund of municipal income taxes paid to Cincinnati while working outside the city.
- Turbotax (https://blog.turbotax.intuit.com): Everybody’s movin’ on — or working remotely. The latest on what to tell them about filing in different states.
- Avalara (https://www.avalara.com/blog/en/north-america.html): The CPA exam is regularly updated, of course, to reflect enhancements to accounting and auditing standards as well as tax laws and regulations. The next update, kicking in Jan. 1, emphasizes emerging technology in delivering services. Here’s what you need to know.
- Solutions for CPA Firm Leaders (http://ritakeller.com/blog/): The evils of all generations of voicemail, from the clients’ perspective and from yours.
- TaxConnex (https://www.taxconnex.com/blog-): Kentucky now taxes a range of services.
- Taxjar (https://www.taxjar.com/resources/blog): What about software as a service?
- John R. Dundon II EA (http://johnrdundon.com/): As the blogger understands “Colorado Sales Tax and Independent Contractors.”
- Tax Vox (https://www.taxpolicycenter.org/): President Biden may propose using net investment income tax revenues to shore up Medicare.
- Tax Foundation (https://taxfoundation.org/blog): President Biden also signed the bipartisan CHIPS and Science Act of 2022 into law last year, promising billions in manufacturing incentives on top of billions in investment credits. But passing a law to authorize billions in incentives for semiconductor investment doesn’t guarantee billions’ worth of semiconductor investment — especially when the incentives come with bureaucratic strings and leave the Tax Code biased against investment.
- National Taxpayer Advocate (https://www.taxpayeradvocate.irs.gov/taxnews-information/blogs-nta/): Of postponements, credits, lookbacks and the sometimes wide valley between.
- The Wandering Tax Pro (http://wanderingtaxpro.blogspot.com/): The blogger’s thoughts on reform of the tax treatment of dividends and capital gains.
