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Eric Green of Tax Rep Network sent out a warning today about this. He got one yesterday, as did a local colleague. Here's what he sent out:

I really hate temporary provisions!! (Like built-in obsolescence in appliances.) More moving parts to account for when tax planning.

I registered for login.gov and id.me, so looks like I'll need to be on the lookout for scams with either one. I don't think I'd fall for it since I never click on links unless I'm expecting them, but one never knows when there might be a lapse in attention. And that one has a fairly legitimate look to it (well, except for the big red arrow and the word "SCAM" )

I use e-services so infrequently that there is always some new requirement to get in. I hadn't bothered with it until yesterday and went through the ID.me process. I had opted for the login.gov to access EFTPS instead. Just watch, now it will probably change again in the near future!

Well, that's really sneaky

Correct! I have 4 weather apps on my phone: Windy One Weather Google Weather Weather Wise I use mostly the Windy site on the computer. Also fond of https://www.lightningmaps.org You can add weather radar to lightning maps, too. It's a setting.

a local CPA contacted me late last week for my comments on the proposed raise in the SALT cap to $30,000. I advised her that in all my 36 years of practice I've never commented on a proposed bill.

Standard response to client inquiries: there is no sense in discussing anything until a bill has been passed and signed. Until then, all bets are off.

https://taxfoundation.org/research/all/federal/big-beautiful-bill-house-gop-tax-plan/ Under the title of bill, you can download to Excel the "cost" of items.

Here is a detailed article by the AP: https://apnews.com/article/trump-tax-breaks-bill-medicaid-80b5781377bcd0870a1dccb3c7b8dc05

Yes, it did. Now it goes to the Senate.

I thought I saw a headline this morning that the bill has passed the whole House. But doesn't it still have to go through the Senate? I usually wait for it to become law. Then we'll get some info and summaries and the IRS can start working on the forms and processing of it all.

If they listen to me. If the come in next year with the same thing, they pay the $50 fee. Being near a border, the OOS withholding is the bigger problem (though KY [usually] is a much higher taxed state, they generally get twice the refund from KY than they pay OH).

Proposals are pretty consistent that a share of some costs will be passed to the states, e.g., Medicaid, education, disaster response. This means that even if federal taxes go down, state taxes will have to increase. This kind of negates the argument that an increase in SALT deductions benefits blue states. Residents of red and blue states alike will find themselves bumping into the cap. Many of the proposals also add a lot more complexity to the tax code. Tip income is exempt at certain income levels and certain occupations. Interest on loans for certain cars will be deductible--how do you calculate that without a lot of paperwork? It goes on. If they are going to pass this thing, let's hope they do it soon because our CE providers need time to put together courses and we need time to take them and digest it all .

You are doing business in the state. CA has never made an issue of unlicensed preparers or preparers unlicensed in CA preparing returns. They recognize all EAs, CPAs and Attorneys from other states to practice in CA. That being said, if you are organized as an LLC, Corp, Partnership or any entity organized under the SOS of your state, they do want you to register as a foreign entity and pay the fees and taxes associated with doing business in CA. They do like their nexus. Not a problem for me as I am a SP, so my Sch C just goes to them with my 540NR, no special filing required. I keep my workpapers for my allocation of income and expense but they have not audited me on my application of the market based sourcing rules. The statute is running on my first year filing an NR with them, so I might see a letter at some point before it runs out. Tom Longview, TX

Absolutely, but most of the credits go to the parents and kiddie tax gets billed to the person who is trying to avoid CG or Interest Income for themselves.

I also charge $25 - $50 for dependent returns, with the option I keep for myself to give them a courtesy discount down to $5 or $10 or even $0 (say if the kid had one W-2 and $27 in withheld tax). But I want to see it before I price-quote, and anything that involves credits, kiddie tax, and multi-state issues is not done for a measley $50.

This didn't even make it out of committee in the House and why I've always had a policy of not discussing any legislation until it passes.

I downloaded the full bill from the house and skimmed through it. The 4,000 for over 65 as written is in additional to the higher standard deduction. It adds a new paragraph to 63(f) and doesn't replace it. Even those that itemize will receive the 4K deduction. Phase out starts at 75/150K. Interestingly, as currently written the 4K is the same for all filing statuses. The "no tax on tips" and "no tax on overtime" appear to be an after AGI deduction. Takes away the payback limit of APTC based on income . Nothing to extend the PTC for those over 400% FPL from IRA. Hopefully the Senate will correct that. If not, a couple in 60's but not eligible for MC with income of ~85K will go from paying ~7K to ~20-25K for insurance. Interest on auto includes such things as ATV, motorcycles, campers, trailers, etc. Residential energy credits go away after 2025. Requires states to collect fee of 100/250 when plating hybrid/electric vehicles. Lots of other items that are going to be a PITA. A lot of the items start for 2025 tax year. After they pass, IRS will need to issue procs, companies will need to learn what new info they need to provide, forms will need to be revised, software will need to be reprogrammed, etc. Uggh!