Within the blogs: Hurry up and wait


SALT advantages; taxing blockchain tech; how you can onboard; and different highlights from our favourite tax bloggers.

Hurry up and wait

  • College of Illinois Tax College Weblog (https://taxschool.illinois.edu/weblog/): Two days after the season opened, the Home handed the Tax Aid for American Households and Staff Act of 2024, which may affect 2023 returns. Ought to preparers wait to file? Relies upon.
  • Taxable Discuss (http://www.taxabletalk.com/): The query on many purchasers’ minds: “Do I Actually Need to Watch for That $10 Ok-1 to Arrive?”
  • Do not Mess with Taxes (http://dontmesswithtaxes.typepad.com/): Regardless of the headline delay of the 1099 earlier this yr, the -Ok model of the shape can nonetheless trigger confusion. A take a look at the brand new IRS FAQ web page on the topic.
  • Mauled Once more (http://mauledagain.blogspot.com/): Who’s answerable for unjustified deductions: the consumer or the preparer?
  • Tax Vox (https://www.taxpolicycenter.org/taxvox): Greater than 90% of the advantages of a Home proposal to briefly amend the $10,000 cap on SALT deductions would accrue to households making $200,000 to $1 million, in accordance with a new evaluation.
  • TaxProf Weblog (http://taxprof.typepad.com/taxprof_blog/): A latest paper examines how the federal government’s transition away from Part 8 disproportionately harms low-income communities of coloration.
  • The Tax Instances (https://www.thetaxtimes.com): How IRS ROI estimates have modified after that money infusion from the IRA.

States and elsewhere

  • Marcum (https://www.marcumllp.com/insights): Current challenges to Tennessee’s franchise tax various have raised the argument that the measure violates the dormant Commerce Clause of the U.S. Structure’s inside consistency take a look at — that means double taxation would happen if one other state adopts an analogous tax.
  • World Taxes (https://www.globaltaxes.com/weblog.php): On the heels of helpful possession data reporting, New York has greenlit its personal legislation that can make it simpler to seek out out who owns a constructing within the state.
  • TaxConnex (https://www.taxconnex.com/blog-): The “Sizzling Subjects” sequence continues with the annual American merry-go-round of gross sales tax charges.
  • Avalara (https://www.avalara.com/weblog/en/north-america.html): Ought to blockchain know-how be taxed? Ought to native governments tax it or ought to tax insurance policies be left to the feds or the states? At the moment, the problem of location taxation is up for debate in Arizona.
  • Taxbuzz (https://www.taxbuzz.com/weblog): What to remind them about avoiding IRS penalties and violations as an American expat.

Listening to a PIN drop

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