DAILY BRIEFING

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August 11, 2021

Prepared for Voornaam

‘A never-ending tax season:’ Rating 2021

By Jeff Stimpson       4 min read

Tax pros weigh in on the pros and cons of this year’s extended filing deadline. View story →

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Accounting Today

Editorial Team

Millions in tax-free profits? Here’s the loophole that survives Biden’s proposed tax hikes

By Lynnley Browning       6 min read

Most advisors don’t know about the tax benefit for qualified small business stock, which can put millions of dollars tax-free into an entrepreneur-client’s bank account.  View story →

RELATED

Schumer puts infrastructure plan on path toward passage →

Among the unresolved issues is how to modify a provision dealing with reporting requirements for cryptocurrency transactions.

IRS warns of ongoing twists on phishing scams

By Daniel Hood       2 min read

Fraudsters are using pandemic-related themes to trick tax pros into making themselves vulnerable. View story →

Profession vets launch 2021 Winning Ways Conference

By Danielle Lee       1 min read

Gary Boomer, Allan Koltin and Gary Shamis will cover the latest trends and best practices for accounting firms in November in Chicago. View story →

IRS clarifies ADS recovery period for rental property

By Roger Russell       3 min read

Revenue Procedure 2021-28 offers guidance for real property trades or businesses implementing retroactive changes. View story →

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Gross receipt exclusions clarified for ERC

By Jeff Stimpson       1 min read

Rev. Proc. 2021-33 from the IRS lets businesses deduct certain stimulus-related items to determine eligibility for the Employee Retention Credit. View story →

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In the blogs: Admittedly wonky

By Jeff Stimpson       3 min read

Offer ‘solutions more than products; ’the gig economy and the profession; new blog in town; and other highlights from our favorite tax bloggers. View story →

Outgunned crypto lobbyists falter in bid to fix broad tax rules

By Joe Light and Laura Davison       5 min read

But observers say the industry did relatively well for one of its first efforts at impacting legislation. View story →

The what, why and how of redomestication

By Nellie Akalp       4 min read

What are some things your clients need to be aware of when considering transferring a business entity’s charter to a different state?  View story →

‘Mr. SALT’ and N.J. ally fight Ocasio-Cortez to revive tax break

By Laura Davison       4 min read

A CPA and a corporate communications vet are at the forefront of trying to reinstate the state and local tax deduction. View story →

Infrastructure bill moves closer to Senate passage

By Laura Davison, Steven T. Dennis and MacKenzie Hawkins       3 min read

Although the upper house is moving forward on the infrastructure legislation, agreement on a last batch of amendments was elusive.  Read story →

Change to crypto provision in infrastructure bill blocked

By Laura Davison and MacKenzie Hawkins       2 min read

Broad oversight for virtual currencies remains a part of the infrastructure bill currently in the Senate. Read story →

Dext debuts rebranded e-commerce solution

By Ranica Arrowsmith       1 min read

Following the acquisition of Greenback, Dext has released a rebranded version of Greenbank’s software called Dext Commerce, a digital sales management solution. Read story →

Baker Tilly to acquire Margolin, Winer & Evens

By Daniel Hood       3 min read

The November combination will give the Top 25 Firm’s presence in the New York area a major boost. Read story →

Int’l agreements spur move to global minimum tax

By Roger Russell       6 min read

After years of discussions, position papers, proposals, negotiations, and re-proposals, the world is rapidly approaching a serious milestone in tax. Read story →

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