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In the blogs: Any questions?

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Working at home and tax breaks; yet more PPP; down under; and other highlights from our favorite tax bloggers.

Any questions?

  • The Wandering Tax Pro (http://wanderingtaxpro.blogspot.com/): Is home where the deduction is? Assuredly it is, right now, where most workers are. Aspects of tax to understand if your clients are among those workers who must during the day hear the dogs bark.
  • The Income Tax School (http://www.theincometaxschool.com/blog/): If you’re satisfied being an independent contractor compensated in proportion to your services rendered, you won’t need a board. But if you want to build a company that will still have market value when you are no longer in the picture, you’ll need the advice and help of seasoned business experts with skills and knowledge that you, let’s speak frankly, lack. Startups often have trouble attracting private investors and the board of directors to ensure success. How to find them.
  • Mauled Again (http://mauledagain.blogspot.com/): Is President Trump out of control on taxes?
  • Don’t Mess with Taxes (http://dontmesswithtaxes.typepad.com/): The crazy COVID-19 tax season 2020 keeps on coming. The recent buzz on tax social media is about IRS balance-due notices that arrived in folks' mailboxes. Except that those who got the notices did file on time and did pay when they filed. And?
  • IRS Mind (http://www.irsmind.com/blog/): Will the post-COVID IRS accept more offers in compromise? Here’s why or why not.
  • Sagenext (https://www.thesagenext.com/blog): The IRS spotted highly sophisticated attacks against tax firms this year. The hackers gained remote access either through phishing or malware and were able to get into the cloud storage accounts having files of the clients. A look at one of the cases.
  • Wolters Kluwer (http://news.cchgroup.com/): The Small Business Administration issued a new Paycheck Protection Program interim final rule on the late evening of Aug. 11. Here’s what happened.
  • Tax Warriors (https://www.taxwarriors.com/blog): Welcome to the 15th (and, as we all are these days, counting…) iteration of what is new with the PPP.

A new world view

  • Tax Vox (https://www.taxpolicycenter.org/taxvox): Increasingly visible police violence against Black people in the U.S. has sparked nationwide protests and calls to defund the police or to redirect criminal justice spending. The revenue side of the criminal justice system has received less attention.
  • Sikich (https://www.sikich.com/insights/): The software industry has created many applications for construction companies (maybe too many). Here’s a case for a unified construction software platform.
  • Tax Foundation (https://taxfoundation.org/blog): New accelerated depreciation policies stand to spur investment in Australia, Austria, Germany and New Zealand.
  • National Association of Tax Professionals (https://blog.natptax.com/): “You Make The Call” presents Ruth, a quarter owner in a partnership. She recently sold her partnership interest and for the last few years her 1040 reported suspended passive losses. She does not materially participate in the partnership. Is Ruth able to deduct those suspended losses now that she sold her partnership interest?

Favorites

  • Mahany Law (https://www.mahanyertl.com/blog/): Extremely Important Word at the End of the Headline Dept.: “The IRS Goes Down Under” looks at an article in the Australian Financial Review claiming that the IRS is ramping up its activities in Australia.
  • Solutions For CPA Firm Leaders (http://ritakeller.com/blog/): Favorite headline of the week: “Adapt.”
  • TaxProf Blog (http://taxprof.typepad.com/taxprof_blog/): Debt-equity distinction in the corporate tax presents one of the most controversial and intractable puzzles in the tax law. The distinction is fundamental to the corporate tax, as interest payments on debt are generally deductible by corporations and dividend payouts on equity are not. The consensus among tax experts?
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