Tax & Accounting News

The Weekly (Tax)Buzz - August 11, 2021

The Weekly (Tax)Buzz - August 11, 2021

If you feel like the news is tough to keep up with these days, you aren’t alone. Every week, we publish a curated list of some of the top articles in tax and finance. Tune in every Wednesday to read the latest thought leadership pieces from our favorite bloggers, US tax proposals, tax crime stories, and much more.

The (Tax)Buzz this week: Taxes on Olympic medals, the IRS “math error” affecting 5 million people, proposals to “go after wealthy tax cheats,” and more.

Forbes: Winning an Olympic medal is a goal many athletes strive for all their lives – but the IRS takes a piece too.

Fast Company: A “math error” caused 5 million people to receive IRS correction notices if they claimed stimulus check credits.

CNBC: Three Senators want the $3.5 trillion budget to revitalize the IRS budget so they can “go after wealthy tax cheats.”

The Washington Post: Here’s what’s inside the $1.2 trillion bipartisan infrastructure package that passed the Senate this week.

Tax Foundation: On the topic of Corporate Alternative Minimum Taxes – does your state have one?

Yahoo! Finance: Mortgage rates have hit a 6-month low, meaning “borrowers are again able to take out loans with rates that are at or near all-time lows.” 

Forbes: There were plenty of IRS payments last month, but many who are still waiting for refunds remain frustrated.

CBS News: The second monthly payment for the Child Tax Credit is coming for some families in August.

CNBC: Job openings have exceeded 10 million for the first time ever, according to the Labor Department. 

Bonus content: 

  • (NEW) Registration has begun for the next ClientWhys 16-Hour Virtual Tax Update & Review Conference! Choose your own dates between November 2021 and January 2022 for the 8 breakdown sessions. The agenda will include everything you need to know for the 2021 tax season. Our special early registration price of $229 (regular $249) ends August 31st, so don’t delay! Register here.
  • The Big Book of Taxes 365, our 1250+ page online tax research library, has been updated with all the latest information on the American Rescue Plan. Annual access costs only $95! Purchase yours here.
  • 19 Free White Paper Downloads – With the constant changes in legislation and rules governing our industry, it can be hard to keep up. That’s why the tax experts at TaxCPE / ClientWhys put together 19 free white papers on the most important tax issues during COVID-19.

Don’t miss our latest TaxBuzz posts: 

  • TaxBuzz Chat: Tax Workflows, Favorite Processes, & Client Experience
  • Some Tax Breaks Could Actually Cost You Money. Here's How to Know the Difference.
  • Space Tourism Tax: Congressman Announces New Plan After Jeff Bezos' First Spaceflight
  • Two Congressmen Have Introduced a Tax Preparer Regulation Bill: Here's What It Includes

Did we miss a great article this week? Let us know in the comments below!

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Lauren Detweiler

Lauren Detweiler

I am equal parts marketer, traveler, and writer, and I've been doing all three for as long as I can remember. I have spent most of my time since graduating university traveling and working remotely in Africa and Europe. My passion lies in conveying the right messaging to the right people, and being a part of the CountingWorks and TaxBuzz team means I get to do that not only for our company, but for clients across the country as well.

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