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In the blogs: Here comes the write-off

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Superseding returns; tax law vs. facts; IRS reopening continues; and other highlights from our favorite tax bloggers.

Here comes the write-off

  • National Association of Tax Professionals (https://blog.natptax.com/): Most of your clients (and maybe not a few of your colleagues) have never heard of a superseding return. How can some taxpayers benefit from filing one?
  • Tax Foundation (https://taxfoundation.org/blog): What to remind them about regarding contribution IRA dates in this extra-long (ain’t that the truth!) year.
  • Taxing Subjects (https://www.drakesoftware.com/blog): How the IRS is temporarily allowing taxpayers and beneficiaries who participate in certain retirement plans to make participant elections electronically.
  • Tax Pro Center (https://proconnect.intuit.com/taxprocenter/): How to build an accounting advisory workflow for e-commerce companies.
  • Taxjar (http://blog.taxjar.com/): Amazon does not publish comprehensive information about its fulfillment centers — and for sellers in Amazon’s Fulfillment by Amazon Program, this can mean a huge headache when collecting and remitting sales tax.
  • TaxProf Blog (http://taxprof.typepad.com/taxprof_blog/): The U.S. has a plethora of federal and state tax and benefit programs. A look at analyzing how these policies, in unison, impact work incentives.
  • Turbotax (https://blog.turbotax.intuit.com): A look at what tax savings can be wrung from weddings.

Case closed

  • Rubin on Tax (http://rubinontax.floridatax.com): Can a beneficiary use Trust Code provisions to remove the trustee when the trust instrument has different provisions? In a recent case, the trial court held that the terms of the trust required that removal could be based only on the terms of the trust.
  • Mauled Again (http://mauledagain.blogspot.com/): With one of the goals of a legal education being the importance of paying attention to facts before making legal arguments or engaging in legal analysis, Benton v. Comr., in which the IRS challenged various deductions claimed by the taxpayer in connection with his picture-framing business, comes up a bit of a disappointment.
  • Procedurally Taxing (https://procedurallytaxing.com): A look at the tax law’s failure to allow taxpayers to unwind certain elections, including the inability to change filing status from filing jointly to separately, and why that’s critical during global pandemic and economic uncertainty.
  • Federal Tax Crimes (http://federaltaxcrimes.blogspot.com/): In United States v. de Forrest, the court denied the government’s motion for summary judgment in an FBAR willful penalty collection suit. How other judges might have granted the government’s motion.

Letter perfect

  • Sagenext (https://www.thesagenext.com/blog): Choosing between VPS and VPN, or cloud, shared, or dedicated hosting for business expansion can be a tricky one. Here are the specifics of virtual private server.
  • Tax Warrior Chronicles (https://www.taxwarriors.com/blog): A recent BFD from old DC, at least in terms of many SMBs: the impact of PPFA on PPP borrowers.
  • Bloomberg Tax (https://pro.bloombergtax.com/news-insights/): The Federal Reserve expanded its Main Street Lending Program, which it said will be open for eligible lenders “soon,” allowing more companies to participate and lessening the burden on banks that create the loans.
  • Summing It Up (http://blog.freedmaxick.com/summing-it-up): Highlights of the legislation include an extended covered period and reduction of the current threshold of required use on payroll — and extension of the ballyhooed and befuddling loan forgiveness.

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