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The NTA’s Objectives; tax enforcement spans the globe; post-reform child credits; and other highlights from our favorite tax bloggers. Report cards National Taxpayer Advocate (https://taxpayeradvocate.irs.gov/about/nta-blog): “A Few Thoughts About The National Taxpayer Advocate’s Fiscal Year 2019 Objectives Report,” including “some extraordinary information, statistics, and discussion about the IRS’s present state, including customer service; and a […]
The tax prep chain Happy Tax has introduced Crypto Tax Academy, an education provider that offers courses to tax and accounting professionals about the complexities of accounting and taxation of digital currencies such as bitcoin and ethereum. The courses offered at CryptoTaxAcademy.com aim to help practitioners add more clients and increase revenues in the rapidly […]
At the recently held SuiteWorld18, Oracle+NetSuite’s annual user conference, I was struck by the focus on machine learning, a capability NetSuite promised would be a major part of its upcoming technology. I’m sure that many of you know about NetSuite, and that it was acquired by Oracle in 2016. For the few who aren’t familiar […]
In a recent decision, the Tax Court illustrated the importance of good record-keeping, as well as the continuing barrier the Tax Code poses for the full deductibility of expenses related to marijuana facilities, in Alterman v. Commissioner, T.C. Memo 2018-83. While marijuana is legal for medicinal purposes in 30 states and the District of Columbia, […]
The rate of job growth and wage increases at small businesses dropped in June, according to payroll giant Paychex. The monthly Paychex | IHS Markit Small Business Employment Watch, which Paychex compiles with the research firm IHS Markit, found the Small Business Job Index decreased 0.20 percent in June to 99.40, after a slight increase […]
Last December’s Tax Cuts and Jobs Act was the biggest change in tax administration in a generation, so it’s only natural that there would be issues with its implementation. So which problems loom first and biggest with tax preparers? The biggest problem that enrolled agent Twila Midwood at Advanced Tax Centre in Rockledge, Fla., has […]
One of the most fascinating things about the field of tax law is the way in which it often compels us to carefully analyze many terms that are used casually in everyday conversation. In typical conversation, terms such as “property,” “income,” “real estate” and “gain” are understood rapidly and there is generally no reason for […]
A “clearer, stronger message” to tax pros concerning the legal requirements around the security of customer information and additional education in data security are among the recommendations from the most recent annual report to Congress of the Electronic Tax Administration Advisory Committee. Two of this year’s 13 recommendations: “The IRS should communicate security requirements to […]
The first known printed use of the word “bookkeeper” in English dates back to 1555, according to Merriam-Webster. Obviously, the way in which bookkeepers work has changed significantly over the years, but what’s even more important is that the evolution is far from over. Technology is breathing new life into the profession and transforming the […]
Peter Weitsen and I started our practice, MendlowitzWeitsen LLP, on July 1, 1988. My life has been enriched every moment of our partnership, which continues even now as part of WithumSmith+Brown, PC. I had and have two partners that have been responsible for my success, enjoyment and who I have been able to share my […]
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