Getting started on our next shutdown; bleeding tax lawyers; who really levies tariffs?; and other highlights from our favorite tax bloggers.
Like it is
* Tax Pro Center (https://accountants.intuit.com/taxprocenter/): What tax pros and clients alike need to know — at least so far — about the shutdown.
* AICPA & CIMA Insights (https://www.aicpa-cima.com/blog): How will sales tax figure in the future of remotely delivered professional services such as accounting?
* Sovos (https://sovos.com/blog/): Fav opening of the week: “Let’s call it like it is. Today, the cryptocurrency industry is facing its most significant regulatory milestone yet.”
* Institute on Taxation and Economic Policy (https://itep.org/category/blog/): The IRS capacity to prevent ecorporations from avoiding income taxes is facing a generational crisis because the agency is “bleeding .” That’s the finding of a new analysis that documents the exodus of IRS tax attorneys from government tax cases since the Trump administration began its evisceration of the agency’s enforcement capacity in January.
* Tax Vox (https://www.taxpolicycenter.org/taxvox): Four decades-plus is no flicker in the history of development of federal tax policy, and this blogger, who’s covered the humongous topic from Reagan to Trump, has seen little improvement.
* Tax Foundation (https://taxfoundation.org/blog): “Who Has the Authority to Levy Tariffs?” The president, other higher politicos or the Supreme Court?
* Virginia – U.S. Tax Talk (https://us-tax.org/about-this-us-tax-blog/): Lenders who advance cash to corporations often do so expecting that the company will repay the principal and will pay interest, and the borrower will report interest income. Yet for U.S. taxpayers the moment of truth can come years after the money has left the bank, when the IRS or a court asks whether that advance was really a loan or instead a capital contribution disguised as debt? This is especially troublesome if the loan was made to a foreign (non-U.S.) corporation.
* Taxable Talk (http://www.taxabletalk.com/): There’s simply no skating over Pittsburgh’s tax treatment of NHL players and other visiting “performers.”
One long-lasting Act
* Dean Dorton (https://deandorton.com/insights/): As the OBBBA’s fanfare fades, what’s next for health care providers?
* Current Federal Tax Developments (https://www.currentfederaltaxdevelopments.com/): Notice 2025-50 provides awaited guidance on provisions on two key areas amended by the OBBBA: a modified “substantial improvement” test for property in certain qualified opportunity zones, and the definition of a rural area for applying this new test.
* Taxing Subjects (https://www.drakesoftware.com/blog): A checklist of clients’ key documents given OBBBA changes.
* Sikich (https://www.sikich.com/insights/): Tucked into the OBBBA is another powerful (and less publicized) opportunity: qualified production property.
* Armanino (https://www.armanino.com/articles/): And another complete roundup of the act’s power and potential to change the tax landscape.
Let’s be reasonable
* Yeo and Yeo (https://www.yeoandyeo.com/resources): FASB has updated guidance on how companies must account for the costs of developing software for internal applications. The details.
* Berkowitz Pollack Brant (https://www.bpbcpa.com/articles-press-releases/): Recent final regs have been issued concerning a 2022 law that requires certain high-income taxpayers’ 401(k) and 403(b) plan catch-up contributions to be designated as after-tax Roth contributions, beginning in tax year 2027. Employers may implement the Roth catch-up rules in 2026, provided they use a “reasonable, good faith interpretation of statutory provisions.”
* National Association of Tax Professionals (https://blog.natptax.com/): FinCEN has freshened up its website to make key pages easier to find, including beneficial ownership information resources, Bank Secrecy Act e-filing and other program updates.
