In the Blogs: Elmo’s World


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Bozos 

  • Taxable Talk: Ironclad tip for almost any celebrity: “Be careful about your taxes. The IRS loves going after Bozo tax celebrities.” Thus we come to “the story that refuses to die,” hinging on “Survivor” survivor Richard Hatch and his zombie-like claim that CBS and the producers of “Survivor” promised to pay the taxes on his winnings.
  • Due Diligence: In this week’s collection: “The Panama Papers – Looking for Whistleblowers”; “Freedom Mortgage, Veterans Vladimir Putin?”; “Wage Theft (FLSA) Claims Soar as Family Budgets Squeezed”; and “Hospice Fraud – Urging Nurses to Overdose Patients?”
  • Tax Analysts: Donald Trump says he won’t release his returns while under audit. Yet, notes blogger Joseph J. Thorndike, Richard Nixon did. And he was not a crook. Note: “There is no legal bar to releasing a tax return while it’s being audited, as the IRS has confirmed.”
  • The Tax Times: Via the 2015 IRS Data Book, if the working stiffs pay most of the ever-escalating taxes, who ya gonna vote for?

Elmo’s world

  • Taxjar: A look at South Dakota’s new sales-tax-related law that (when it kicks in on May 1) will require many out-of-state sellers to collect sales tax from South Dakota buyers even if the former has no physical presence in South Dakota.
  • BNA blogs: True, most states do require nonresident owners of pass-through entities that do business in their jurisdiction to withhold tax on the owners’ distributive share of income derived or connected to in-state sources. But state to state, the similarities can stop there.
  • Tax Policy: Caped crusading wasn’t quite what it used to be when costumed characters festooned New York’s Times Square recently to protest a tax credit program. It’s a long story, but basically tourists are getting sick of mobs of Elmos, and the Elmos are sick of not making a living from the whole deal.

Cumulative effects

  • The Income Tax School: What to think about that engine of your practice – your fee structure – past, present and especially future. First up: key questions concerning hourly versus per-form.
  • Solutions for CPA Firm Leaders: Domino effect: “A cumulative effect produced when one event sets off a chain of similar events.” How one good thing for or about your staff can lead to another in your practice.
  • Tax Vox: The curtain rises on the Urban-Brookings new Tax Policy Center site. A striking home page features the latest TPC posts and publications and a simplified navigation bar helps you browse the “trove of research and data.” Handsome re-vamp.
  • Rubin on Tax: What to tell clients about important details during what must be one of life’s most trying moments: a death while overseas.
  • Liberty Tax: What to remind them about W-4s.

Court appointments

  • Procedurally Taxing: How in Justice v. United States the 11th Circuit had the chance to become the fourth Circuit Court to rule on the impact of the unnumbered paragraph, a.k.a. (*) paragraph, at the end of B.C. 523(a). “It passed on the opportunity and went back to the roots of this issue before siding with the majority of Circuit Courts that addressed this issue based on the pre-2005 law.” Fame is a fleeting mistress.
  • Federal Tax Crimes: Blimey: How the U.K. Supreme Court uses economic concepts similar to American doctrines for attacking those bloody tax shelters.

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