50 years of tax preparation; golden days for whistleblowers; Confusion in Colorado; and other highlights from our favorite tax bloggers.
Nothing is free
- Mauled Again (http://mauledagain.blogspot.com/): As fresh as the day it was written: “In order for someone to have something for free, someone else has to pay.”
- The Wandering Tax Pro (http://wanderingtaxpro.blogspot.com/): Half a century of tax preparation began with a chance encounter on Lincoln’s birthday, a briefcase with this year’s tax “stuff” and instructions on “jumping in and swimming.” “. . ”Oh, and the best way to learn how to prepare returns is to“ prepare manually ”.
- Recent Federal Tax Developments (https://www.currentfederaltaxdevelopments.com): Many taxpayers seem to believe that income below a certain amount is not income to be reported on a tax return. Not true in some cases of drop shipping for online sales.
- Eide Bailly (https://www.eidebailly.com/taxblog): All press-ready news on the current federal budget proposals.
- Mahaney Law (https://www.mahanyertl.com/blog/): New report shows wealthy Americans withhold over $ 600 billion in taxes every year; Unpaid taxes will exceed $ 7 trillion in the next ten years. Will this – and increased enforcement – encourage more tipsters?
- Tax Foundation (https://taxfoundation.org/blog): Legislative efforts are underway to reform the federal treatment of marijuana by removing it from planning, meaning it would no longer be a banned substance. Unsurprisingly, the bill includes an excise tax on all sales of marijuana products that would come into effect six months after the bill went into effect. However, the problem with tax structuring is twofold.
Help with frustration
- Tax Pro Center (https://proconnect.intuit.com/taxprocenter/): What to remember about June deadlines.
- Don’t mess with taxes (http://dontmesswithtaxes.typepad.com/): In honor of the holiday that has just passed, tax considerations for military survivors.
- Taxbuzz (https://www.taxbuzz.com/blog): What to remember, the IRS sends unemployment benefit tax refunds to those who have paid too much.
- Boyum & Barenscheer (https://myboyum.com/blog/): Many Americans remain unemployed due to the COVID-19 pandemic (at least 9.8 million at the end of April, according to the US Bureau of Labor Statistics). However, this is expected to change quickly as employers increase hiring activities. If your non-profit customer needs new employees in the near future, maybe you should put out feelers now.
- Taxation of Subjects (https://www.drakesoftware.com/blog): What to tell them when asking for the latest IRS words on interest rates?
- Solutions for CPA Business Leaders (http://ritakeller.com/blog/): How one word can go a long way in dealing with frustrations.
- Palm Beach Accounting and Financial Services (https://www.pbafs.com/blog): What They Are Told About The Basics Of Crypto – Including Taxation.
State news
- John R. Dundon II EA (http://johnrdundon.com/): Colorado is arguably the toughest regime as a direct result of all 70 home rule communities and their draconian enforcement standards for collection. On positive note, and much to the convenience of retailers, Colorado is now making strides in simplifying local sales tax collection for distance sellers in the state.
- Taxjar (http://blog.taxjar.com/): June sales tax due dates by state.
- Sovos (https://sovos.com/blog/?region=united-states): Why one should pay attention to information from states on voluntary disclosure agreements – and why too many taxpayers could ignore or abuse them. A look at Delaware.