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Accountants become meta; muddy start to the season; the controller as preparer; and other highlights from our favorite tax bloggers.

what a world

  • Institute on Taxation and Economic Policy (https://itep.org/category/blog/): Most state budgets are teeming with cash due to billions in federal aid and a recovering economy, positioning state policymakers to invest in programs like health care, education, and infrastructure. to help communities recover from the pandemic. Yet most state legislatures opt instead for premature and myopic tax cuts.
  • Boyum and Barenscheer (https://www.myboyum.com/blog/): Many employees receive part of their compensation in the form of sales-related commissions. To attract and retain top talent, some companies even allow employees to earn unlimited commissions. It’s not hard to guess how such a system could be abused.
  • Mutilated again (https://mauledagain.blogspot.com/: A recent tangled network of twisted tax prep in Ohio reminds us that committing one crime often leads to committing more, as well as making bad decisions.
  • Eide Bailly (https://www.eidebailly.com/taxblog): “Accounting firms are following the lead of other companies in launching operations in the metaverse, a digital space where players simulate real-life activities, from shopping to gambling to business consulting.” Perhaps, in the case of this industry, all three.
  • Income Tax School (http://www.theincometaxschool.com/blog/): A networking card gives you access to any virtual or in-person gathering and helps you walk away with a large amount of professional contacts. No? Maybe a networking card will exist one day, but until then, networking is a skill you can and should learn.
  • Palm Beach Accounting and Financial Services (https://www.pbafs.com/blog): Estates are like big snowflakes that families claw at – each one is unique, and here’s what to remind them that estate planning is far from unique.
  • Taxed subjects (https://www.drakesoftware.com/blog): Form 1024, “Request for Recognition of Exemption Under Section 501(a) or Section 521 of the Internal Revenue Code”, is the latest function directed to the electronic world.
  • TaxProf Blog (http://taxprof.typepad.com/taxprof_blog/): For most federal agencies, centralized Office of Information and Regulatory Affairs review and regulatory impact analysis has been routine for more than 40 years. This is not the case in the tax context.
  • Wolters Kluwer (https://www.wolterskluwer.com/en/solutions/tax-accounting-us/industry-news): The SBA’s Payroll Protection Program loan forgiveness year-end report found that four out of five PPP loans applied for and were forgiven.

The month ahead

  • Don’t Mess With Taxes (http://dontmesswithtaxes.typepad.com/): Filing season does indeed kick off soon, with the first filing being rejected (so to speak) a week from Monday. This year’s captions for that include: “IT systems will be ready,” “COVID-related tax tips,” and, yes, “[Last Year’s] The cleaning is still in progress.
  • TaxMama (http://taxmama.com): Some of the good and bad things this month will bring to the tax world.
  • taxbuzz (https://www.taxbuzz.com/blog): In this month’s chat, tax professionals discuss how to handle tax planning in this era of congressional uncertainty.
  • canopy (https://www.canopytax.com/blog): Seven accountant memes to brighten up your week, including one about the past two seasons and mud.

state your case

  • John R. Dundun II EA (http://johnrdundon.com/): Currently, all Colorado employers – regardless of the number of employees or where those employees work – are subject to paid sick leave requirements.
  • Tax foundation (https://taxfoundation.org/blog): Alaska’s proposal to introduce a wholesale tax on vaping products may actually make smoking cigarettes combustible – a stated goal of vaping promotion – more expensive for smokers.
  • Avalara (https://www.avalara.com/blog/en/north-america.html): State sales tax holidays for this year.
  • The wandering tax pro (http://wanderingtaxpro.blogspot.com/): A look at the latest (and “famous”) New Jersey NATP State Tax Seminar.
  • tax time (https://www.thetaxtimes.com): Time plays tricks on us all. The Tax Court in Todisco granted a wife innocent spouse relief for two tax years, even though she was aware of the previous year’s tax shortfalls when she signed the spouse’s return. ‘Next year.
  • Procedural taxation (https://procedurallytaxing.com/): On another case, guest blogger Audrey Patten explains how the doctrine of implied consent can extend far beyond signing a joint statement.

Ounces of Prevention