Within the blogs: Extra disasters

Jackpot tax chunk; nonetheless a tough world; it is your time; and different highlights from our favourite tax bloggers.

Extra disasters

  • Taxing Topics ( The IRS goals to remove 200 million items of paper yearly. A have a look at the subsequent few steps on this grand plan.
  • Procedurally Taxing ( The blogger finds Authorities Accountability Workplace reviews on tax topics to be a wonderful supply of information not in any other case obtainable or simply obtainable. GAO-23-105552, “IRS Might Higher Handle Different Dispute Decision (ADR) Packages to Maximize Advantages,” isn’t any exception. 
  • Present Federal Tax Developments ( Proposed regs would add monetized installment gross sales as a listed transaction, topic to the reporting provisions discovered within the rules beneath Sec. 6011 and the penalty guidelines of Sec. 6707A.
  • Taxable Speak ( The current IRS announcement that crypto staking constitutes revenue ought to shock nobody.
  • TaxProf Weblog ( We’re, merely, having extra disasters, with a corresponding enhance in FEMA catastrophe declarations over time as nicely — with ensuing tax and submitting implications. 
  • Mauled Once more ( The current pleasure a couple of lottery prize topping $1 billion has generated a blizzard of claims that the “authorities” or “the IRS” will “take” greater than half the winnings. A dialogue of how whoever makes this declare is incorrect and whoever repeats it has didn’t do impartial analysis.
  • Wolters Kluwer ( So what ought to and mustn’t present up on the much-heralded 2023 1099-Ok?

Wanting murky

  • Avalara ( The world’s open for enterprise once more — and cross-border commerce is simply as powerful as ever. 
  • Tax Vox ( Inflation, inventory and oil volatility, the shift in federal financial coverage and modifications in shopper spending: With extra fiscal information coming in, the long-term well being of state budgets appears murky. However resulting from variations in state financial circumstances, employment charges, {industry} compositions and tax constructions, components are affecting particular person states otherwise.
  • Sovos ( Tax concerns in California, amongst others, as we head into unclaimed property season.
  • Taxjar ( Does Kentucky tax providers?
  • TaxConnex ( Telecommunications presents tough questions on taxation. Most of the state/native taxes and costs will be exempted, as an illustration. Exempting regulatory charges is one other story.
  • Taxbuzz ( Pennsylvania has expanded its property tax and hire rebate program for the primary time in 17 years. 

The shining


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