In the blogs: All in the preparation


The licensing debate; IRIS AWOL; donating crypto; and other highlights from our favorite tax bloggers.

All in the preparation

  • National Association of Tax Professionals ( A handy flowchart to let them see if they do, in fact, need a tax preparer.
  • The Wandering Tax Pro ( Regulation of paid preparers is again being discussed. Do we really need the IRS to require federal “licensing” of paid tax return preparers? What are the other holes in this proposal — including one glaring trouble that too few speak about?
  • Solutions for CPA Firm Leaders ( Audit work is easier to schedule than tax work: Audits are bigger engagements and consume a higher volume of hours per engagement. Tax work is more like a constant fire drill. How to strike a balance between the two — and among what staffers?
  • The Rosenberg Associates ( Rosenberg’s most popular articles of last year, covering partner compensation, M&A and staff remote and otherwise.
  • Turbotax ( What to remind them about the Clean Vehicle Credit, a tax break that’s picking up speed.
  • Canopy ( A look at this year’s biz tax updates, from the Corporate Transparency Act to bonus depreciation and the K-2/K-3 wrangle.
  • CPA Growth Trends ( Now that the dust is clearing from the pandemic, deep changes to the accounting industry are starting to emerge: shortages of top talent, the shift to remote work and a focus on advisory services, to name a few. How each plays a role in reshaping accounting marketing.
  • Parametric ( The Tax Code may not see many changes in 2023 but the economy might, from continued inflation to the beginning of the federal election cycle. How those with taxable investments can prepare.

At your Service

  • National Taxpayer Advocate ( What’s in the Taxpayer Advocate’s no-holds-barred recent report to Congress on the IRS. Key words include “access,” “challenges,” “complexity,” “inadequate” and “delays.”
  • Taxable Talk ( Oh IRIS, where were you?
  • Virginia – US Tax Talk ( The State Department estimates that some 9 million U.S. citizens live abroad. The TAS claims that a good number of them face additional burdens at virtually every step of complying with their U.S. tax obligations.
  • Procedurally Taxing ( Boat chartering in the Caribbean, running a vineyard, penning a sushi guide to Japan: With the IRS promising more unwelcome attention to wealthy taxpayers, will hobby loss/Sec. 183 cases increase?
  • Federal Tax Crimes ( In a FBAR filing case with heavy fines, the Supreme Court, with one dissent, comes down against the daughter of a man who fled Nazi Germany.

Sell responsibly

Charity for all

  • Boyum & Barenscheer ( A new refugee resettlement charity had only begun operating when its director realized she was at sea concerning how to value donations of clothing and household goods. Was it simply the price her not-for-profit would charge if it sold the goods in a rummage sale or on an auction website? Even established nonprofits may not know the answer.
  • Gordon Law ( For noncash charitable contributions to a 501(c)(3), taxpayers often need clarification about the rules and regulations surrounding the deductions they can then claim. One big area of confusion: the requirement for a qualified appraisal for cryptocurrency contributions.
  • Marcum ( Federal grants can be a key part of a nonprofit’s funding. This series of “practical guidance” kicks off with items to help nonprofit financial professionals — who’ve been known to struggle with federal grant requirements and compliance — to understand standards in the Uniform Grant Guidance.

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