#taxodon — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #taxodon, aggregated by home.social.
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I'm spending a lot of time right now trying to not be too obsessive.
I have to change what I'm doing so I don't just keep doing it (or pick up the next thing that's somewhat similar).
Time gaps are particularly difficult, because there's a space of time before the next thing (lunch) starts.
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I'm spending a lot of time right now trying to not be too obsessive.
I have to change what I'm doing so I don't just keep doing it (or pick up the next thing that's somewhat similar).
Time gaps are particularly difficult, because there's a space of time before the next thing (lunch) starts.
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Seemingly ghosted by a business client who I liked working with. Won't respond to emails or phone calls. Is it too much to ask from clients to send a one sentence email saying "I've gone in another direction."? #taxtwitter #taxodon #tax #clientrelations
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Seemingly ghosted by a business client who I liked working with. Won't respond to emails or phone calls. Is it too much to ask from clients to send a one sentence email saying "I've gone in another direction."? #taxtwitter #taxodon #tax #clientrelations
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Seemingly ghosted by a business client who I liked working with. Won't respond to emails or phone calls. Is it too much to ask from clients to send a one sentence email saying "I've gone in another direction."? #taxtwitter #taxodon #tax #clientrelations
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Seemingly ghosted by a business client who I liked working with. Won't respond to emails or phone calls. Is it too much to ask from clients to send a one sentence email saying "I've gone in another direction."? #taxtwitter #taxodon #tax #clientrelations
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Weekly tax audio and video update is online now, looking at the IRS statement they are now answering the practitioner priority on average within 10 minutes, new depreciation auto limits for 2023, IRS grants relief on filing dates for storm victims in Georgia and Alabama and a taxpayer misunderstands an internet article on the taxation of a §401(k) distribution.
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Weekly tax audio and video update is online now, looking at the IRS statement they are now answering the practitioner priority on average within 10 minutes, new depreciation auto limits for 2023, IRS grants relief on filing dates for storm victims in Georgia and Alabama and a taxpayer misunderstands an internet article on the taxation of a §401(k) distribution.
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Weekly tax audio and video update is online now, looking at the IRS statement they are now answering the practitioner priority on average within 10 minutes, new depreciation auto limits for 2023, IRS grants relief on filing dates for storm victims in Georgia and Alabama and a taxpayer misunderstands an internet article on the taxation of a §401(k) distribution.
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The taxpayer misinterpreted an article he read online and excluded his §401(k) distribution from income. The IRS and Tax Court corrected his error.
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The taxpayer misinterpreted an article he read online and excluded his §401(k) distribution from income. The IRS and Tax Court corrected his error.
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The taxpayer misinterpreted an article he read online and excluded his §401(k) distribution from income. The IRS and Tax Court corrected his error.
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Bias is real.
11yo: what does CPA mean?
Me: Certified Public Accountant. Why?
11yo: oh I know what EA means but I didn't know what CPA means.We, as an industry, can beat the assumption of CPA=tax.
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Bias is real.
11yo: what does CPA mean?
Me: Certified Public Accountant. Why?
11yo: oh I know what EA means but I didn't know what CPA means.We, as an industry, can beat the assumption of CPA=tax.
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Bias is real.
11yo: what does CPA mean?
Me: Certified Public Accountant. Why?
11yo: oh I know what EA means but I didn't know what CPA means.We, as an industry, can beat the assumption of CPA=tax.
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IRS announces 2023 depreciation limits under §280F and lease inclusion values.
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IRS announces 2023 depreciation limits under §280F and lease inclusion values.
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IRS announces 2023 depreciation limits under §280F and lease inclusion values.
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IRS claims they are now answering the practitioner priority line within 10 minutes. The agency states it is returning 12,000 employees to the phone lines and that it has been more successful in limiting the impact of robocalling services.
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IRS claims they are now answering the practitioner priority line within 10 minutes. The agency states it is returning 12,000 employees to the phone lines and that it has been more successful in limiting the impact of robocalling services.
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IRS claims they are now answering the practitioner priority line within 10 minutes. The agency states it is returning 12,000 employees to the phone lines and that it has been more successful in limiting the impact of robocalling services.
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Today @taxnotes reports that Ken Corbin of the IRS stated yesterday to a virtual event hosted by the California Society of Enrolled Agents that in the last two weeks the IRS has averaged answering practitioner lines calls in 10 minutes.
He states the IRS has both added more personnel and has been more effective thwarting robocalls.
A number of practitioners have mentioned getting answered quickly recently in online forums.
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Today @taxnotes reports that Ken Corbin of the IRS stated yesterday to a virtual event hosted by the California Society of Enrolled Agents that in the last two weeks the IRS has averaged answering practitioner lines calls in 10 minutes.
He states the IRS has both added more personnel and has been more effective thwarting robocalls.
A number of practitioners have mentioned getting answered quickly recently in online forums.
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Today @taxnotes reports that Ken Corbin of the IRS stated yesterday to a virtual event hosted by the California Society of Enrolled Agents that in the last two weeks the IRS has averaged answering practitioner lines calls in 10 minutes.
He states the IRS has both added more personnel and has been more effective thwarting robocalls.
A number of practitioners have mentioned getting answered quickly recently in online forums.
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SCOTUS has denied cert for Missouri's challenge to ARPA's provision baring the use of funds received from ARPA for state tax cuts. This leaves standing the Eighth Circuit's decision dismissing the case for lack of standing.
https://www.supremecourt.gov/orders/courtorders/011723zor_5426.pdf
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SCOTUS has denied cert for Missouri's challenge to ARPA's provision baring the use of funds received from ARPA for state tax cuts. This leaves standing the Eighth Circuit's decision dismissing the case for lack of standing.
https://www.supremecourt.gov/orders/courtorders/011723zor_5426.pdf
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SCOTUS has denied cert for Missouri's challenge to ARPA's provision baring the use of funds received from ARPA for state tax cuts. This leaves standing the Eighth Circuit's decision dismissing the case for lack of standing.
https://www.supremecourt.gov/orders/courtorders/011723zor_5426.pdf
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Trying out a relay on my solo instance. We'll see how it goes. #TaxTwitter #taxodon #tax
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Trying out a relay on my solo instance. We'll see how it goes. #TaxTwitter #taxodon #tax
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Weekly update is now live with talks about tax season opening date, California filing date relief and IRS cryptocurrency memos.
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Weekly update is now live with talks about tax season opening date, California filing date relief and IRS cryptocurrency memos.
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The IRS has put the additional information required for claims for the research credit filed with amended returns in the just released draft Form 6765 instructions (Rev. January 2023).
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The IRS has put the additional information required for claims for the research credit filed with amended returns in the just released draft Form 6765 instructions (Rev. January 2023).
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The second IRS memorandum of the day on cryptocurrency holds that a charitable contribution of cryptocurrency of more than $5,000 requires obtaining a qualified appraisal. The taxpayer cannot simply use the price quoted on an exchange.
Failure to obtain the appraisal leads to a total denial of the deduction.
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The second IRS memorandum of the day on cryptocurrency holds that a charitable contribution of cryptocurrency of more than $5,000 requires obtaining a qualified appraisal. The taxpayer cannot simply use the price quoted on an exchange.
Failure to obtain the appraisal leads to a total denial of the deduction.
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No 2022 deduction would be allowed for taxpayers holding nearly worthless stablecoins at December 31, 2022 per IRS memorandum.
And the taxpayer might only be able to get a capital loss out of the deal, and only if the coin is sold before it becomes worthless per the analysis in the memorandum.
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No 2022 deduction would be allowed for taxpayers holding nearly worthless stablecoins at December 31, 2022 per IRS memorandum.
And the taxpayer might only be able to get a capital loss out of the deal, and only if the coin is sold before it becomes worthless per the analysis in the memorandum.
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No 2022 deduction would be allowed for taxpayers holding nearly worthless stablecoins at December 31, 2022 per IRS memorandum.
And the taxpayer might only be able to get a capital loss out of the deal, and only if the coin is sold before it becomes worthless per the analysis in the memorandum.
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The IRS is releasing various cryptocurrency memorandums today. The first one rules that a taxpayer who who is still holding an unstable stablecoin (had a bit of that in 2022) cannot claim a loss under §165 - and if there was such a §165 loss (likely taking that position to avoid having to deal with capital loss limits) it wouldn't be deductible.
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The IRS is releasing various cryptocurrency memorandums today. The first one rules that a taxpayer who who is still holding an unstable stablecoin (had a bit of that in 2022) cannot claim a loss under §165 - and if there was such a §165 loss (likely taking that position to avoid having to deal with capital loss limits) it wouldn't be deductible.
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A taxpayer failed in his attempt to exclude the value of his employer provided housing from tax.
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A taxpayer failed in his attempt to exclude the value of his employer provided housing from tax.
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Always looking for more tax and accounting folks to follow on here! If you are one, I will definitely follow back. #tax #taxodon #taxtwitter
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Always looking for more tax and accounting folks to follow on here! If you are one, I will definitely follow back. #tax #taxodon #taxtwitter
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Always looking for more tax and accounting folks to follow on here! If you are one, I will definitely follow back. #tax #taxodon #taxtwitter
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IRS news release on delayed filing dates for California storm victims.
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IRS news release on delayed filing dates for California storm victims.
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Have two different programs to post this week since we got a brand new tax/retirement bill (SECURE 2.0 Act of 2022) and a whole of year end guidance on cars (electric and other) from the IRS.
The SECURE Act 2.0 update is here.
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The safe harbor amount for home offices is too low and doesn’t save much effort. #taxodon
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And we have a date of enactment (December 29, 2022) for the SECURE 2.0 Act of 2022. The President signed the bill today.
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We have definitions we might or might not be able to rely upon for the new clean electric vehicle credit rules that come into effect on January 1.
Not sure when the promised regulations discussed in this Notice will actually be issued.
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Notice 2023-1 is interesting. The Notice tells us the IRS plans to issue regulations for the new clean vehicle credit under IRC §30D to define specific terms. It then tells us what they expect to be some of those definitions.
But what it doesn't say is that taxpayers can rely on these definitions until the regulations are issued. Of course, it also doesn't say you can't use them.
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The IRS has published Notice 2023-9 that provides for a safe harbor computation of the incremental cost of certain commercial clean vehicles for purposes of the §45W qualified commercial clean vehicle credit that takes effect on Sunday.
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The IRS has published Notice 2023-9 that provides for a safe harbor computation of the incremental cost of certain commercial clean vehicles for purposes of the §45W qualified commercial clean vehicle credit that takes effect on Sunday.
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For those from #TaxTwitter just coming over to Mastodon a few hints. First, be sure to boost posts from others posting tax content. Boosting is like retweeting, but here it's important because that's the easiest way for your followers to find and be able to follow those you have found.
Favoriting a post only tells the person that posted you like the post--it won't otherwise show up or make the poster visible to your followers.
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Meetings shouldn't be about discovery.
Development and analysis should all be done behind the scenes.
Meetings should be about resolution or delivery.
Collaboration can be about resolution and delivery.
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Meetings shouldn't be about discovery.
Development and analysis should all be done behind the scenes.
Meetings should be about resolution or delivery.
Collaboration can be about resolution and delivery.
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Too much wild speculation & wishful thinking from people on Trump taxes. I saw a commentator on TV say that the only people who report cash charitable donations on their taxes are criminals. 🤔 #taxodon #taxes #TrumpTaxRetuns