This week we’re covering clarification we have received from the IRS on a handful of OBBBA provisions.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_04-28-26.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-irs-clarifies-key-obbba-provisions
This week we’re covering federal and California law changes that taxpayers need to consider when deciding whether to make the June 15 prepayment.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_04-26-26.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-passthrough-entity-tax-new-laws-new-year-new-considerations
This week we’re covering what practitioners can do when clients receive new IRS Notice CP53E.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_04-21-26.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-know-what-to-do-when-clients-receive-irs-notice-cp53e
This week we’re covering California conformity to federal alimony treatment.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_04-19-26.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-california-conformity-to-federal-alimony-treatment
The IRS is extending various filing and payment deadlines from March 10, 2026, to July 8, 2026, for individuals and households that reside or have business in Hawaii, Honolulu, Kauai, and Maui counties. (HI-2026-01) In addition to the filing and payment due dates for individuals and business entities that fall on March 15, 2026, and April 15, 2026, for calendar-year taxpayers, the relief also applies to affected quarterly payroll and certain excise tax returns normally due on April 30, 2026. Penalties on payroll and excise tax deposits due on or after March 10, 2026, and before March 25, 2026, will be abated as long as the tax deposits are made by March 25, 2026.
We have reached out to the FTB to see if California will also be conforming to this disaster postponement relief and will update this post once we receive a response.
In the last two weeks of the filing season, I do as I always do with procrastinator clients: I e-mail or call them and ask if they would like me to file an income tax extension for them. Every year, about half of them panic and ask if I can finish their income tax returns without an extension if they just get me their information “in a day or two.”
I’m sure everyone reading this knows exactly what I’m talking about. For my part, I tell them all the same thing: If you get me all your information quickly, I’ll do what I can, but I don’t make any promises. I have found over the years that if I flat out tell them I can’t get it done, then I may not see their information until October 10. For the few that I will be able to finish by April 15, I look like a hero.
For many clients, you would think an extension is a death sentence (or possibly a fast track to something much worse … an IRS audit). But honestly, filing an extension is really not a big deal. You know it, and I know it.
I’m curious, what do you tell your clients who have a strong opposition to filing an extension? Do you have any good lines you use to put them at ease? Let me know.
April 15 is around the corner. You’ve all worked really hard and have earned a break.
For me, this is the time of year where I begin to scour the hundreds of California bills that have been introduced during this legislative session. By the end of April, all fiscal bills must be heard by the fiscal committee in their house of origin, so it gives us a sense of what may be coming.
There are a variety of tax-related bills that have been introduced this year that will likely get a lot of media attention, even if they don’t actually get enacted. And who is to say whether they will or not … at this stage it is way too early to tell. Although if I were a betting gal, I’m thinking that given the condition of the state budget, the increased demands that are going to be put on the state due to federal cutbacks, and the likely presidential campaign of a prominent California political figure, there will likely not be a lot of big tax bills that are enacted this year.
But be that as it may, we are watching the hundreds of tax and related bills that have been introduced, including bills that if enacted would:
Naturally, while most bills have to have been introduced already if they are to be enacted this year, this doesn’t apply to budget-related bills or tax bills, so who knows what else might be put up for consideration before the end of the legislative session.
Of course, I have my eye on some non-tax related bills that I think are quite interesting as well. These include bills that if enacted would:
So, while I hope you will be going off for some well-deserved R&R after next Wednesday, know that we at Spidell will be staying on top of all the latest developments to fill you in on when you come back all refreshed and raring to go.
Starting in June 2026, the 23rd FIFA World Cup will be jointly hosted by the United States, Mexico, and Canada. This will be Mexico’s third time hosting, the United States’ second, and Canada’s first time.1
Ticket sales opened in April, and ticket prices were immediately in the news when it was revealed that FIFA was asking for up to $10,990 per ticket.2 On the official ticket resale platform, a seller was asking $82,780 for one ticket.
However, ticket sales are just the beginning; fans will also shell out for travel and lodging, food and beverage, and team merch. Plus, there’s marketing and sponsorship revenue to be earned, to say nothing of the jobs that are created by hosting such a huge event. According to a FIFA socioeconomic impact analysis,3 the 2026 World Cup will bring 6.5 million fans to the games for an overall $30.5 billion economic impact (in the U.S. alone), at a cost of “just” $11.1 billion.
This is where things get Messi. The IRS recently released a reminder that foreign athletes are generally subject to tax on their U.S.-source earnings connected with activities performed in the United States at a withholding rate of 30%.4
There is an exemption if the athlete is present in the U.S. for no more than 90 days in the taxable year, compensation does not exceed $3,000 (yeah, right), and services are performed for a foreign employer not engaged in a U.S. trade or business.5 A tax treaty may also reduce or eliminate U.S. withholding.
The IRS also has a Central Withholding Agreement (CWA) program that can help reduce withholding for foreign athletes who plan to work in the U.S.6 A CWA provides for the correct amount of withholding based upon net income and can result in tax savings.
Should we tax the athletes who travel here for a world event that brings nations together to enjoy a common pastime? Don’t we ask the same thing about Olympians and their medals? I’m not in charge, so it’s not up to me. My one true hope is that Ricky Martin writes another megahit World Cup song. ¡Alé, alé, alé!
Twenty-six years ago, Richard Hatch outwitted, outplayed, and outlasted 15 competitors to become the first winner of the television show Survivor. Hatch walked away with a $1 million prize and, apparently, the firm belief that no one at the IRS watches TV.
A federal judge in Providence, Rhode Island, recently ordered Hatch to pay $3.3 million in back taxes, interest, and penalties. By my math, that’s more than three times what he won on the show, which has accumulated through the magic of compounding penalties.
To be fair, the prize money was just the beginning. Hatch also neglected to report $321,000 in radio appearance fees and $27,000 in rental income. But my personal favorite is the $11,500 in charitable donations that he had quietly redirected for personal use. In other words, it wasn’t just that he didn’t pay taxes on his winnings… he was thorough about it.
Hatch spent 51 months in federal prison following a 2006 tax evasion conviction, and then an additional nine months after failing to file his amended returns as ordered. He has represented himself throughout the recent proceedings, which he describes as a case of prosecutorial misconduct and judicial bias. “People think I’m crazy,” Hatch told the Boston Globe, “but I’m really, really hopeful.”
Tax professionals, of course, will immediately recognize this as the statement of a man who has never met a statute of limitations he couldn’t outlast, which, in its own strange way, is a very Survivor-like approach to tax compliance.
The government has also placed liens on two properties it claims Hatch transferred to his sister to avoid collection. Hatch denies the allegation.
The final tally is still climbing, as the judgment continues to accrue interest. At this rate, by the time the appellate court weighs in, Hatch may owe more than the entire prize pool of the first three seasons combined.
Final Tribal Council vote: IRS, unanimous.
It’s that time of year again. The birds are singing, the flowers are blooming, and apparently, criminals across Europe have decided that tax season is the ideal time to launch their own version of income redistribution. Why wait for a tax refund when you can access wealth in a much more daring, flaring way?
Let’s start in Italy, where four hooded thieves pulled off what may be the most efficient job anyone has completed this spring. On the night of March 22, they broke into the Magnani Rocca Foundation museum near Parma, grabbed three masterworks, a Renoir, a Cézanne, and a Matisse, and were back over the garden fence in under three minutes.1
Three. Minutes.
I don’t know about you, but I’ve spent more time than that trying to locate a client’s prior-year AGI. These thieves walked away with approximately $10.3 million in Impressionist paintings before most of us had finished reading the first page of a Schedule C. The museum, admirably committed to the element of surprise, didn’t even announce the theft publicly for a week, about the time it takes to finally get through to someone at the IRS.
Not to be outdone, a separate crew somewhere between Italy and Poland decided that fine art was so last week. Their target? A truck carrying 413,793 KitKat bars, a full 12 tons of chocolate, en route from a factory in Italy to distributors in Poland.2 The entire vehicle and its contents remain missing. KitKat, demonstrating the kind of crisis communications we can all aspire to, noted that thieves had "taken the message too literally and made a break" with their product.
A break. With a KitKat. Get it?
But the thieves may not have known one thing — that each KitKat bar has its own unique identifying number. KitKat has launched a stolen KitKat tracker on its website so you can report if you’ve got one of the stolen bars.3 Think of it as the sweetest identity theft tracker out there. So go dig into that bowl of chocolate bars in the breakroom (no pun intended) now and see if you can find one of those elusive Kit-Kat-napped bars.
Picture this: It’s April 16. All returns have been dealt with, and the phones and your inbox are quiet. You re-emerge into the world, blinking in the bright sun. What will you do with your newfound free time? In order to not shock your system, here are some movies that feature tax in the plotline.
The Blues Brothers (1980):
The Untouchables (1987):
The Firm (1993):
Lucky Numbers (2000):
Stranger Than Fiction (2006):
The Accountant (2016; Part 2, 2025):
As a child, I remember numerous times my parents and grandparents telling me that I had “chutzpah” when I would listen in on adult conversations and, with the wisdom of a 4- or 5-year-old, loudly and vociferously put in my two cents about topics I knew nothing about, such as the Vietnam war, tackling poverty, or who made the best Manhattans.
But an article I read today clearly jumped to the top of the hill in terms of what epitomizes chutzpah.1
Ryan Lizza, a self-described veteran journalist and editor of Telos News, was preparing his tax return using Turbo Tax and was getting increasingly frustrated with its clunkiness, expense, and constant interruptions with “scammy upsell offers.” So, what does someone who has no tax knowledge, let alone any coding knowledge, do in such a situation?
Build their own tax preparation software using AI Claude Code, of course!
That’s exactly what Ryan did. As he stated, “…in just a few weeks, I created what appears to be a full-featured financial app called ‘Telos Tax’ that prepares complicated federal and state tax returns for free. It’s Turbo Tax on Steroids.”
In a few weeks he directed Claude Code to design an app using 234,000 lines of code that can be used by individuals or tax professionals alike to prepare tax returns. According to Ryan, Telos Tax can handle returns for “the simplest W-2 employee taking the standard deduction to a complex filer with, say, farm income, rental properties, asset depreciation schedules, AMT adjustments, crypto sales, a Roth conversion, net operating loss carryforward, and every imaginable combination of deductions and credits.” It even “gives you a FICO-like score to assess your likelihood of being audited.”
The only problem is that Ryan has no idea if it actually does any of this correctly. As he said, “maybe Claude, in its effort to please, created a Potemkin app that simply fooled me into thinking it was in the same league as a product designed by hundreds of engineers at a Fortune 500 company.”
So, he’s making the app public as a free open-source project so tax pros and actual human coders can vet it.
Now that, my dear readers, is the ultimate definition of chutzpah!
We shared some tax industry world records with Tribune readers last month, and while work-related feats are impressive, at the end of the day they’re still work. Now that April 15 is only a couple of weeks away, we are looking ahead to a world record attempt you can take part in before your vacation plans are in full swing.
On April 19, Visit Newport Beach and the Atomic Ballroom will attempt to host the world’s largest swing dance lesson.1 Attendees can learn the Balboa Swing, a dance created in Newport Beach during the Big Band era.
The world record attempt is technically part of Newport Beach’s 120 Years of Welcome,2 but if you’re actually there to celebrate the end of another successful tax season, who’s to judge? Certainly not us, and we promise not to tell the Guiness World Records officials who will be on site to certify the record attempt.
Last month we also asked Tribune readers to share any career experiences that are worthy of the record books.
We received a response from a CPA who plans to retire next year, after working 50 years in the industry. He started his career just two years after Spidell was founded in 1975.
In the words of Michael S. from Sunnyvale, California:
“I started my career with the IRS, in August 1977, as an office auditor under the old work-study program. I left the IRS in August 1980 and entered the world of public accounting. I have never looked back.
In all of that time, I have taught in the undergraduate accounting program at CSU Los Angeles, been a guest lecturer at what was then Hayward State (now CSU East Bay), earned my Master of Science in Taxation from Golden Gate University, and managed and moderated programs for CalCPA. Not to mention raising two great kids … not an accountant between them!
It’s been a great ride!”
What started out as a yellow chick made from sugar and air is now a worldwide phenomenon found on drinkware, jewelry,1 sneakers, and Bath & Body Works2 shelves. But it’s more than just a marshmallow, it’s also a lesson in how to grow a business. A master class taught by Professor Peeps.
Nobody asked for a chili lime mango marshmallow chick.3 (Now that I’ve eaten one, I can see why; if anyone else wants to try one, I have nine left.) Peeps has never tried to be sophisticated. It’s a yellow blob with eyes made out of… whatever that stuff is that apparently isn’t chocolate. Then came pink Peeps. Then rabbit-shaped ones. Flash forward to 2026, and we have chili lime mango Peeps.
The business lesson: Know what makes you you, and commit to it fully rather than sanding off your edges to appeal to everyone.
Pop-Tarts already had fans, Peeps just introduced themselves. The brand collaboration strategy is a masterclass in audience expansion. Every Peeps collab — SunnyD, Pop-Tarts, Bath & Body Works (smell like a Peep!) — brings an entirely new customer base into contact with Peeps.
The business lesson: Find the audience you want and ask what you could offer them in a partnership. Find your Pop-Tarts.
No matter how wild the collabs get, the original is always still on the shelf. Through all the brand extensions and flavor experiments, Peeps has never abandoned its core product. The classic yellow chick is always there.
The business lesson: Growth and experimentation should fund and protect your core offering, not cannibalize it. Know your “yellow chick,” the thing people come to you for first. Never let it get lost in the noise.
Peeps are still just sugar and air. But the brand has taken the simple and spun it into something larger – a memory, a season, an icon. That’s a lesson worth more than its weight in… whatever that stuff is that apparently isn’t chocolate.
We’re a little more than three weeks from the April 15 filing deadline, and many of us have stopped taking new appointments and are working feverishly to finish tax returns on our desk while preparing extensions and first quarter estimate calculations.
I have no doubt that you’re tired, possibly running short on patience, and counting down to your own retirement. I know that’s how I feel every year at this time. So, instead of my usual snarky Tribune articles, I want to offer a word of encouragement. Keep pushing hard, you’re almost there. I know you can make it and finish strong in the process.
Remember to take a deep breath and face today’s challenges directly and confidently. You don’t have to be perfect; we all make mistakes (some more embarrassing than others). When you get home late tonight, give your loved ones a big hug and kiss, share a good meal, get a little exercise, maybe watch something on TV that makes you laugh, and let’s beat tomorrow’s tasks together.
It was St. Patrick’s Day this past week, which means one thing for most Americans: green beer, corned beef, and a brief but sincere wish that they had been born Irish.
For tax professionals, however, it means something slightly different: green beer, corned beef, and a brief but sincere wish that the Tax Code contained a four-leaf clover deduction.
It doesn’t. We checked.
The Irish have long had their own approach to taxes — namely, keeping them refreshingly low. Ireland’s corporate tax rate became the stuff of legend (and more than a few Congressional hearings), drawing tech giants and multinationals to Dublin the way leprechauns are drawn to gold.1 Apple, Google, and Facebook all discovered that the Emerald Isle had a pot of gold at the end of its rainbow: a 12.5% corporate tax rate with an even lower effective rate for savvy taxpayers. Apple reportedly paid an effective rate of well under 2% on its Irish profits at one point, a fact that managed to unite American senators and European regulators in shared outrage.2
The vehicle of choice was something called the “Double Irish.”3 No, it’s not a coffee order, it’s a tax structure that allowed multinationals to shuffle profits through Irish subsidiaries and dramatically reduce their global tax bills. Ireland eventually agreed to phase it out following international pressure, but not before it had served its purpose.
Meanwhile, American tax professionals spent this year’s St. Patrick’s Day the same way they spend every other day between January and April: hunched over a stack of documents, subsisting on cold coffee (or maybe a double Irish coffee?), and fervently hoping for the luck of the IRiSh.
So if you happen to find a four-leaf clover between now and April 15, hold on to it. You’re going to need it.
Erin go bragh — and may your extensions be automatic.
If there’s one thing that individual tax preparers have in common, it’s a universal dread — the soul-crushing ritual of indecipherable forms, calculators, and hours of work ending in despair over underwhelming refunds.
Here are some circulating tweets that capture the anxiety and dejection that comes with procrastination, frustration, and realizing your tax refund is basically pocket lint:1
There’s nothing like a little shared misery to help everyone make it through another filing season (also see “A word of encouragement” above).
One of my many hats I wear at Spidell is searching the news for various tax topics to make sure we’re on top of all the latest developments in the tax world. While scouring these various sources, I frequently come across some unusual tidbits, both tax and non-tax related.
For instance, in a Forbes e-mail I subscribe to, I learned that March 11 is National Oatmeal Nut Waffles Day. For all the fun facts related to this important national day, see: https://www.daysoftheyear.com/days/oatmeal-nut-waffles-day/.
What stood out to me was that the precursor to these tasty treats dates back to ancient Greece’s “obeios,” simply batter cakes cooked between hinged metal plates over a fire; and that the first written waffle recipes in Europe combined flour, eggs, and wine or water in molded irons. Gotta love those Europeans.
The other irony is that March 11 is also World Plumbing Day.
I’m sure we can spend hours going down the national day rabbit hole, and feel free to do so at : https://www.daysoftheyear.com/. But it is the middle of March, and most of us don’t have the time to waste unless of course it relates to business or taxes, so here are a few more financial-focused national days that you might be interested in.
January 31 is Hug an Economist Day, which makes sense because January 31 is also Eat Brussel Sprouts Day, Scotch Tape Day, and Hell is Freezing Over Day.
February 12 is Lost Penny Day, a day to take the time to find all those lost pennies that have slipped between your car seat cracks or fallen to the closet floor or behind a dresser. Although given that the U.S. Mint is no longer printing pennies, this national day’s days may be numbered, so make the most of it while you can?
The entire month of March is dedicated to National Clean Up Your IRS Act Month to encourage taxpayers to get their financial records in order for filing season. And as much as we tax nerds may love this idea, it’s more likely that our clients will be participating in other celebrations this month including Dr. Seuss Day (March 2), National Dance the Waltz Day (March 4), National Cheese Doodle Day (March 5), National Napping Day (March 9 and my personal favorite), and National Skipping Day (March 27).
We all know that April 15 is Tax Day, but did you also know that it is National Banana Day, Titanic Remembrance Day (fitting for some of our clients), National Rubber Eraser Day (even more fitting for some of our clients), and even better yet, “National That Sucks Day.”
And two days our children will be quick to remind us about: October 6 and October 13, National Transfer Money to your Daughter Day and National Transfer Money to your Son Day, respectively. Not surprisingly, the days were initially sponsored by Zelle.
National Slam the Scam Day was on March 5, the same day the IRS released its 2026 Dirty Dozen list of tax scams.
This year’s list contains a new item for abusive undistributed long-term capital gains claims, replacing prior fuel tax credit concerns. This item was added because the IRS continues to see an increase in overstated or fabricated claims tied to Form 2439, Notice to Shareholder of Undistributed Long-Term Capital Gains.
Also, the number 2 scam is AI-enabled IRS impersonation by phone (robocalls, voice mimicry, spoofed caller ID). Not only does the IRS remind taxpayers that they will contact them via mail first and will not leave prerecorded messages threatening arrest, but the IRS also generally cautions taxpayers not to rely on AI-generated responses to complex tax questions and to verify any calculations or information provided by AI.
You can access the full list of Dirty Dozen scams at: www.irs.gov/newsroom/dirty-dozen-tax-scams-for-2026-irs-reminds-taxpayers-to-watch-out-for-dangerous-threats.
In a New York hot dog restaurant, dial the right number in a vintage phone booth and it opens to reveal the door to a speakeasy.1 Within Disneyland, at 33 Royal Street, ring the bell and say your name; if you’re on the list, the door will open to the mysterious Club 33.2 And next time you’re in Kerman, California, and you want to access the area’s best sopes, you’ll have to … well, you just have to walk into the Shasta Market to find the secret taquería that was discovered by a state tax agency.
Shasta Market is a mini mart that generally sells beer, tobacco products, soda, lottery tickets, etc. In June 2018, a cigarette and tobacco products inspection was conducted by the California Department of Tax and Fee Administration (CDTFA), which is responsible for administering sales and use taxes as well as tobacco, alcohol, fuel, cannabis, and other taxes and fees. The CDTFA discovered the mini mart now included a taquería where there was none before. Forget cigarettes sold without tax stamps, we have unreported sales of hot prepared food3 and an eating area that seats 10–15 people. Swarm! Swarm!
The CDTFA inspected the mini mart’s records and found no evidence that taquería sales had been reported and estimated $73,484 in unreported sales going back through 2017. Shasta Market argued that the taquería was not operating during 2016 through October 2018. However, the CDTFA located a November 2017 Facebook post made by an unrelated third party that included a photo of hot prepared food and the glowing review: “Chicharrón con chile sopes are the best thing in this entire town! #shastamarket.”
During an appeal hearing, the Facebook post was hailed as “highly probative,” and the CDTFA’s assessment was upheld. It probably didn’t help that Shasta Market didn’t provide any evidence supporting its arguments that the taquería wasn’t actually open during the period at issue.
For those who are unfamiliar with sopes, they are traditional Mexican snacks consisting of thick, handmade corn masa patties with pinched, raised edges to hold toppings. They are fried until crispy on the outside and soft inside, then topped with refried beans, cheese, salsa, lettuce, and shredded meat.
So next time Shasta Market decides to sell sopes, they may want to consider setting up a better secret password before people can indulge and swearing them to secrecy. No cell phones allowed.
During a Financial Accounting Foundation Oversight Committee meeting held last week, the Government Accounting Standards Board (GASB) announced that it is launching a series of short videos to help lawmakers understand financial reports.
Previously, GASB published user guides to help lawmakers, but according to GASB’s chair, Joel Black, “In this day and age, very few elected officials, if any, are probably going to read a 200-page PDF.”
I’m all in favor of using technology to help make difficult things easier to understand, but using short videos that I imagine as TikTok videos to help lawmakers understand financial reports doesn’t give me a lot of confidence in our lawmakers. At Spidell, we often pore over hundreds of pages of tax legislation. If we can read what lawmakers pass, shouldn’t we expect them to read financial reports that they base their votes on? And if 200 pages is too long for them, then who is reading the 800-page bills they are passing (other than us)?
In my limited spare time, I have worked on learning more about AI and how I can best use it in my practice and everyday life, but this new revelation from GASB makes me wonder if I can get AI to create a 10-minute video explaining every nuance of the One Big, Beautiful Bill Act, but I can’t imagine AI can even do that.
Feeling like if you are handed one more shoe box of receipts, you’ll likely launch them into outer space?
Halfway through the tax season and desperately needing a quick rejuvenating getaway to get through the dog days of March?
Well, for those of us living in Southern California, the answer may just be a few short hours away. And even if you don’t literally make it to the stars, you may be able to ride the sound waves to an altered state of mind.
I’ve lived in San Diego for 25 years now and thought I’d discovered all of the quirky out-of-the-way places to go, but last week I uncovered something that had previously escaped my radar: the Integratron.
Located near Joshua Tree National Park, the Integratron, a large white domelike structure, was built by George Van Tassel. Van Tassel was a former aviation engineer for Lockheed and Douglas Aircraft (of Howard Hughes fame), who felt compelled to build the structure after having had an encounter in 1953 with Solganda, a 700-year-old visitor from the planet Venus. The meeting occurred after Van Tassel had sat for several hours under Giant Rock, a seven-story high boulder in the Mojave Desert, to commune with Native American spirits.
According to Van Tassel, Solganda’s space craft landed on an airstrip located next to Van Tassel’s home and that Solganda wore a gray-one-piece bodysuit, spoke perfect English, and had come to Earth because “Earthlings’ reliance on metal building materials was interfering with radio frequencies and disrupting interplanetary ‘thought transfers.’”1 But the greatest takeaway that Van Tassel got from his meeting with Solganda was that he was given a formula to build a “machine that would generate energy to suspend the laws of gravity, extend human life, and facilitate high-speed time travel.” Hence the Integratron, which took over 20 years to build.
Unfortunately, Van Tassel died in 1978, alas, not having been able to extend his life and, as far as we know, without having been able to time travel. However, all is not lost. Three sisters, originally from the East Coast, have purchased the Integratron. And although not claiming to offer exactly all that Solganda had promised, the sisters do offer amazing sound bath experiences that I’m sure can elevate you to another plane psychologically, make you feel younger (at least for a moment or two), and, most importantly, transport you away from your computers for at least a day or two.
I for one am signing up! Care to join me? Details are available at www.integratron.com/.
If you can dream it, you can sue someone for it. Footlong sub is only 11 inches?1 Lawsuit. Texas Pete hot sauce is made in North Carolina?2 Lawsuit. Mozzarella sticks don’t actually contain any mozzarella?3 How dare you! Lawsuit.
Here are a few examples of products that failed to live up to lofty consumer expectations.
Benjamin Careathers sued Red Bull for false advertising, claiming that while he knows that Red Bull won’t literally give you “wiiiiings,” it was dishonest advertising because Red Bull should give a higher energy boost than coffee.4 It turns out that Red Bull actually has less caffeine than an average cup of coffee. Careathers won, and Red Bull shelled out $13 million to customers. Anyone in the U.S. who bought at least one can of Red Bull (no proof of purchase required) was entitled to $10 cash or $15 worth of Red Bull product.5
Amanda Ramirez sued Kraft over the statement on the packaging of Velveeta Shells & Cheese Original Microwaveable that states “Ready within 3½ minutes.”6 She alleged that these instructions only describe the cooking time and fail to take into account the time it takes to remove the lid, add the cheese sauce, add water, and stir. Had she known it would take longer than the stated time, she claimed she never would have purchased the product. Ramirez was seeking $5 million, but a judge dismissed the case because she “suffered no injury.”
Rachael Barnett sued Frito-Lay after her experience with their Hint of Lime Tostitos soured.7 Barnett argued that “she expected it would have more of the named fruit ingredient, not just for flavor but for its nutritive value.” Her claim argued people increasingly turn to snacks that provide a healthy indulgence through ingredients associated with positive health benefits. The case was voluntarily dismissed, indicating a probable settlement. Note: This was the same attorney that represented Ramirez in the Shells & Cheese case. Spencer Sheehan is apparently known mostly for going after vanilla-flavored products that contain no actual vanilla and is known as “the Vanilla Vigilante.”8
While it may seem like fast money, these types of suits are very often (rightfully) dismissed. But if the plaintiff does win, the settlement is probably taxable and don’t forget about attorney fees, which take up a minimum of 25% to 30% of the legal award/settlement. Remember that individual taxpayers can no longer deduct attorney fees and costs following OBBBA making permanent the repeal of the 2% miscellaneous itemized deduction. However, an above-the-line deduction from gross income is still available if the fees and costs are paid in connection with any action involving a claim of unlawful discrimination (the above suits no doubt would not fall into this category).
There are two arenas in life where ordinary, respectable people are lured down a dark path, throwing the rules out the window and hoping no one will notice: the curling rink and the tax return.
The Canadian men’s curling team showed us this at the 2026 Olympics, when a player was accused of illegally touching a stone mid-play. It was a transgression so subtle it required video review to confirm, and yet apparently is something that “happens all the time”… the home office deduction of a sport otherwise known for its honesty and sportsmanship. (“Yes, my home office equals the entire square footage of my apartment.”)
What follows is a comparison of two of history’s great cheating traditions: one played in ugly pants and Teflon-bottomed shoes, one played in reading glasses in front of a pile of receipts. The strategies are more similar than you’d think.
When you cheat in curling, it happens on a world stage with cameras everywhere. Tax cheating happens on a laptop with Doritos crumbs stuck between the keys at 11p.m. in March, and yet somehow the IRS still finds out. The lesson from Canada’s curling scandal is timeless: Whether you’re on the ice or filing your return, the moment you think no one is watching is exactly when everyone is watching.
Okay, March is around the corner, which means things are starting to get a little tense. Here’s a few accounting puns to provide a little relief (no pun intended):
Do you have some other puns to share? Send them to us at: Editor@spidell.com.
In last week’s Tax Season Tribune article Olympic gold (sort of), I ruffled some feathers within our reader base by not-so-subtly suggesting that Olympic handball isn’t a “real sport.” One kind soul took the time to send me a link to a YouTube video produced by USA Team Handball that explains the sport to an American audience.
After watching the video and taking our reader criticism to heart, I will concede that handball is more of a sport than I gave it credit for last week.
In the spirit of paying it forward, here’s the YouTube link for the short three-minute video www.youtube.com/watch?v=zWh4tmKtIuw.
I was shocked when I saw a news story recently when a U.S. gold medalist from the Winter Olympics in Milan, Italy, was showing off her broken medal. Apparently, it broke while she was jumping around in excitement. That bit of cheap craftsmanship led me down a rabbit hole of investigating a little more about Olympic medals.
Did you know that Olympic gold medals are not made of solid gold? I was absolutely shocked by that until I learned that if they were made of solid gold, a single medal would cost about $45,000 at the current cost of gold. But, even then, you may think to yourself, as I did, that $45,000 is a worthy prize for taking the top spot in your sport.
That word “sport” is used rather loosely in the Olympics these days, isn’t it? I’m not one to make fun of curling (much); it’s a fun activity with a group of friends that’s played on a surface that doubles as a beer cooler. But is it a “sport”? Do we really want to give a $45,000 medal to all five members of an Olympic curling team? Isn’t curling just a Canadian version of cornhole? (Okay, fine, it was technically invented in Scotland, but let’s not get technical.)
And what about larger teams? Olympic hockey carries a 25-person roster (25 players × $45,000 gold medals = $1,125,000). That’s a hefty cost. You might suggest that hockey is a popular sport, so the medal cost is justified. I might agree with you on hockey, but when we get to the summer Olympics, there is no way you are going to convince me that Olympic handball, which carries a 14-person roster, is worthy of $45,000 medals per person! How on earth did handball become an Olympic sport? I would apologize to the Olympic handball teams, but I’m just saying what everyone else is thinking.
Moving away from the top of the podium, if you’re curious, Olympic silver medals are made of solid sterling silver and carry a cost of under $1,500 each, and third place carries solid, authentic bronze at a whopping cost of $6 apiece. Maybe we should give the marquee, one-athlete sports solid gold and give the handball players solid bronze and just tell them it’s gold. After all, someone told them handball was a real sport and they believed it.
On September 24, 2025, accounting industry groups including the Minnesota Society of CPAs gathered at the Target Center in Minneapolis to create the longest line of calculators.1 Their world record total added up to 1,094.
By our math that’s enough calculators to give one to every attendee at one of our tax update seminars in Anaheim, historically Spidell’s largest in-person location. But even that falls well short of the world record for the largest taxation lesson. In 2018, 3,378 people attended a class taught by the Institute of Company Secretaries of India.2
In 2011, General Electric filed a 57,000-page tax return.3
In 2012, the IRS paid $104 million, the largest amount ever to a single whistleblower, to Brad Birkenfeld in the UBS tax evasion case.4
In 2017, Florida man Ramon Blanchett received a tax refund of $980,000.5
Do you have any tax-related triumphs that are worthy of an entry in the record books? The longest time spent on hold with the FTB or IRS in a single phone call? The most repeated requests for any one client to send you their documents in a tax season (their last tax season with you, presumably)? We don’t have any sway with Guiness Book of World Records, but send us an e-mail and your feat might show up in a future Tax Season Tribune.
You know that old phrase “Go with your gut?” It’s one that some employees at Sacramento Municipal Utility District (SMUD) apparently forgot when they received an e-mail from a vendor requesting a bank account change. (TransAmerican Power Poles, Inc. v. Sacramento Municipal Utility District (August 26, 2025) Cal.App.3d, Case No. C100384)
A SMUD employee had been legitimately communicating with its steel pole supplier vendor, TransAmerican Power Poles located in Texas, about invoices totaling $248,885. Then, the employee received an e-mail from what appeared to be the same TransAmerican employee… only instead of the customary @tappinc.com domain, the sender had used @tappincs.com (the extra s is for “sneaky”). The employee failed to notice the difference.
Another e-mail arrived from the fake address requesting a bank account change regarding payment for the invoices. This e-mail appeared to CC the actual TransAmerican controller at his legitimate e-mail address, although he never received it.
The SMUD employee was suspicious. Another employee called the situation “sketchy” and a third labelled it “shady.” They decided to call TransAmerican and check it out. They even called twice… at 6:54 PM and 6:55 PM Texas time, which was after hours at TransAmerican, and so no one picked up. The SMUD employees didn’t leave a voicemail, overrode their guts, and wired $248,885 to the scammer’s account.
When the real TransAmerican came looking for payment, SMUD essentially replied, “we already paid you” and refused to pay again, arguing the imposter was TransAmerican’s “ostensible agent” and that paying twice would be an unconstitutional “gift of public funds.”
The court held that SMUD had failed to exercise “ordinary care,” which is a very technical legal term meaning “call back during business hours.” The lesson for tax professionals: when a vendor suddenly changes their banking details, trust your gut and verify through a known contact method.
The court ruled that SMUD was liable to pay TransAmerican the full $248,885 for the steel poles that were actually delivered, even though SMUD had already lost $248,885 to the scammer.
The FTB has released the interest rates for the second half of 2026. (FTB Tax News (February 2026)) For the period July 1, 2026, through December 31, 2026, the rates remain unchanged from the first half of 2026:
You can access historical rates at:
www.ftb.ca.gov/pay/penalties-and-interest/interest-and-estimate-penalty-rates.html
The Governor’s office announced that over 160 lending institutions have committed to provide a streamlined process for at least one additional forbearance period of up to 90 days for qualified borrowers. This is in addition to the 12-month commitment required by AB 238 (Ch. 25-128) enacted last year.
According to the Governor’s office, this latest commitment of an additional 90 days forbearance is subject to approval by investors such as Fannie Mae and Freddie Mac and is consistent with the terms of the Governor’s January 2025 agreement with banks. This includes offering payment options that do not include lump-sum (balloon) payments, waiving any mortgage-related late fees that accrue during the forbearance period, and not reporting late payments on forbearance amounts to credit reporting agencies.
Additional information is available at: www.gov.ca.gov/2026/02/06/governor-newsom-announces-funding-for-la-fire-survivors-to-access-pre-built-housing-to-further-speed-recovery-and-maintain-neighborhood-character/
Tax pros powered by Celsius energy drinks during busy season should exercise some caution — they might accidentally get more of a buzz than they bargained for.
In late July 2025, High Noon issued a voluntary recall after discovering that some of its vodka seltzers were accidentally labeled as Celsius Astro Vibe energy drinks. The packaging mix-up occurred when a supplier mistakenly shipped empty Celsius cans to High Noon’s production facility, where they were filled with 4.5% ABV vodka seltzer instead of caffeine-fueled energy drink.
The mislabeled cans — featuring a silver lid instead of the standard black Celsius lid — were distributed to retailers in Florida, New York, Ohio, South Carolina, Virginia, and Wisconsin between July 21–23. While no illnesses have been reported, the FDA warned that consumption of these products could lead to unintentional alcohol ingestion.
For tax professionals who depend on energy drinks to power through marathon filing sessions, this recall serves as a cautionary tale. Imagine reaching for what you think is your afternoon energy boost, only to discover you’ve been sipping vodka seltzer all day. Your work product might become decidedly more … creative.
The affected lot codes can be found on the FDA website, but the key identifier is simple: If your Celsius has a silver lid, don’t drink it unless you’re planning to make estimated tax payments significantly less stressful (though significantly less accurate). While this particular recall affects a small batch of products, it’s a good reminder that even in the midst of tax season chaos, it pays to double-check what you’re consuming. After all, the only thing that should be intoxicating about tax work is the thrill of finding that last missing W-2.
When the government shut down in October 2025, IRS attorney Isaac Stein was ready for the furlough — he immediately pivoted to being a full-time hot dog vendor.1 It was a move as natural as the casings on a Vienna Beef hot dog, because Stein had dreamed of having his own hot dog cart since he was a child.
The pivot was easy because Stein had just opened a hot dog cart after years of consideration. In September 2025, Shysters Dogs (“The Only Honest Ripoff in D.C.”) hit the sidewalks but was only open on Fridays and weekends because, at the time, Stein was working at the IRS. Once furloughed, the cart was open full time with Stein slinging dogs in his usual IRS attire: a suit.
His menu includes what he refers to as “the correct hot dog”: mustard and sauerkraut on a steamed bun with a Hebrew National hot dog. Of course, being from Detroit, I have beef with this. The real “correct” hot dog is a Kowalski natural casing hot dog in a steamed bun with Detroit Coney Island sauce, mustard, and onions. Preferred sides are curly fries and a Greek salad with that pink dressing.
According to the National Hot Dog and Sausage Council (there’s a National Hot Dog and Sausage Council?), here are the many regional varieties that make up the billions of hot dogs consumed by Americans each year: www.hot-dog.org/
culture/regional-hot-dogs.
So, if you’re an IRS employee facing a government shutdown or a tax preparer who’s working their last tax season, a hot dog cart could be the next step. Because you can’t bacon-wrap a tax return.
We’ve all seen the Tax Day cocktail videos on TikTok and YouTube. But while taxpayers need liquid courage on April 15, we know tax professionals need it long before then. So, in addition to providing tax tips to help you survive tax season, we thought our subscribers could use guidance on liquid flow rather than cash flow.
Below are our top five cocktails to help you enjoy (or at least endure) tax season.
For those marathon nights leading up to March 15 and April 15, combine in a cocktail shaker:
Shake vigorously to take out your frustrations, pour into a coupe glass, and sprinkle with some crushed espresso beans. Pairs well with Schedule C reconciliations.
When numbers are no longer making sense, these numbers will definitely help — at least when poured into an ice-filled tumbler:
Warning: After consuming, you may find the standard deduction suddenly seems quite reasonable.
Forget the Internal Revenue Service — enjoy your very own IRS: Ice cream, Rum, and Stout. Just pour stout into a beer mug, add a little coffee rum, and top it off with some chocolate ice cream. Your staff will be far more willing to spend three hours on hold with the other IRS with one of these in hand.
Pro tip: Every time the hold music restarts, take a sip.
Because we all build in a little cushion, right? Just pour one ounce whiskey and 0.75 ounce elderflower liqueur into an ice-filled cocktail shaker. Shake, strain over fresh ice, and top with a splash of seltzer.
Consume while explaining to clients why their “estimated” taxes were only off by $12,000.
When 60-70–hour weeks have become 80-90–hour weeks, pour into a cocktail shaker:
Add ice, shake, strain into a highball or hurricane glass, and top with freshly grated nutmeg.
Recommended serving: After filing your 47th extension of the day.
Drink responsibly. Remember alcohol is no longer deductible even if served for the convenience of the employer, or for entertaining your clients, as entertaining as you may be … or may become.
For a moment it looked like the tax world was about to be taken over by PokéTax, but accountants can now breathe a sigh of relief. At least for now, PokéTax has been sidelined .
Last April, Pryce Adade-Yebesi, the 24-year-old co-founder and CEO of OpenLedger, unveiled PokéTax, a new game that uses Tax Trainers, representing different parts of a tax form, like income, deduction, and credits (put me on the exclusion team please!), to complete a tax return. Once the “run” is finished, the player is directed to the IRS Direct File site to officially submit the return.1
PokéTax Tax Trainers ask players various questions to help them win deduction badges. An article cites questions such as “How much did you receive from pensions and annuities?” and “How much did you receive in unemployment compensation?”
I must confess, I thought that was really boring. I mean think of the questions that the standard Pokémon characters might ask:
Pokémon Trainer Style: “How many Poké-pension coins did you collect this season?”
Professor Oak Style: “Now then! Tell me, how much experience points did your retirement account earn?”
Team Rocket Style: “Prepare for trouble, make it double! To protect our tax returns from devastation! Now tell us — what’s your retirement compensation?”
Pokémon Center Nurse Joy Style: “Welcome! I hope your retirement portfolio is in good health! How much did it grow this year?”
Gym Leader Challenge Style: “Before you can pass, challenger, you must declare: What retirement experience did you gain to get here?”
There are various characters that may assist a player through the game, such as Deductoise and Auditmandar, and players can use moves like “Audit Dodge,” “Tax Blast,” “W-2 Flamethrower,” and “Refund Rush.”2
But alas, tax pros are going to have some time to get their game on in preparation for these tax world games. With the IRS’s tabling of Direct File this year, it appears that PokéTax will not be playing this filing season.
Also note that in 2023, there was the dating-style game Tax Heaven 3000, where users went on a date with an avatar named Iris who asked questions to help complete a tax form. But that was only available for the 2022 tax filing year. We will have to see what games are released next.
Sometimes criminals seem to get off way too easy. Take Mr. Christopher J. Smyth of Pineville, West Virgina. Mr. Smyth owned Stat EMS, an emergency medical service (EMS) business (aka an ambulance business). Mr. Smythe racked up over $4.6 million in trust fund penalties for pilfering income taxes withheld from his employees for over a decade.
And this wasn’t the first time! Mr. Smyth created Stat EMS after his previous EMS business went bankrupt for, you guessed it, unpaid employment tax liabilities.
This time around, Mr. Smyth received three years of prison time for corruption and forcible interference with administration of internal revenue laws and a super-duper cumbersome repayment plan:
Now, when Mr. Smyth was interviewed by an IRS revenue officer, he stated that he had no personal bank accounts and denied that he used anyone else’s. In reality, he made regular deposits into a relative’s bank account and tried denying that he had any involvement in a series of other businesses, despite having signature authority over their bank accounts.
Something tells me that Mr. Smyth is experienced at hiding his income and assets (at least on paper), so the chances of the federal government collecting more than the minimum $100 per month from him once his incarceration ends seems like a stretch. At that rate, in his lifetime, he’ll never repay even a couple of months’ worth of interest on $4.6 million.
I, for one, am not that kind. Mr. Smyth is the type of person who makes you want to bring back good old fashioned medieval English punishments. Maybe I’m mean and cruel, but that’s okay with me. Mark me down as one year older and one year more curmudgeonly.
I recently bought a volume of the works of Edgar Allan Poe during lunch, and I admit I wasted over an hour of work time that I should have spent reading OTA appeals, or pulling together podcast content, or writing articles to instead read favorites like “The Tell-Tale Heart” and, of course, “The Raven.”
But some good did come of it because I thought AI might do a good job of creating a spoof poem of “The Raven.” The results were pretty good, but you know the rule — don’t just rely on what AI pumps out — so I also tweaked it. I’m sure I committed various tense shifts, approximate rhymes, and scansion that leaves a lot to be desired, among other crimes of poetry. Hopefully, I won’t have to eat crow.
Once upon a midnight dreary, while I pondered, weak and weary,
Over many a quaint and curious volume of offshore lore—
While I nodded, nearly napping, suddenly there came a tapping,
As of someone gently rapping, rapping at my chamber door.
“‘Tis some auditor,” I muttered, “tapping at my chamber door—
Only this and nothing more.”
Ah, distinctly I remember, it was in the bleak December;
And each asset in my portfolio wrought its ghost upon the floor.
Eagerly I wished the morrow; vainly I had sought to borrow
Respite from my wealth-born sorrow—sorrow for my dwindling store—
For the rare and radiant fortune that the angels name “secure”—
Taxed here forevermore.
Then a whisper, softly creeping, as if some dark secret keeping,
Spoke of islands far and distant, spoke of shores with golden store.
“Take thy wealth across the water, hide it there from those who bother,
Let no tax man ever gather what is rightfully your lore.
In these havens, safe and hidden, you shall prosper evermore—
Shall be poor, ah, nevermore!”
Now my coffers, ever growing, with the wealth forever flowing
To accounts where none may follow, to that far and distant shore.
And my assets from out that shadow that lies floating on the floor
Shall be taxed here—nevermore!
This week we’re covering which workers are and are not eligible for the new overtime deduction.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_01-27-26.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-understand-who-is-and-who-isnt-eligible-for-the-new-overtime-deduction
This week we’re covering California’s treatment of Trump accounts and contributions.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_01-25-26.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-california-treatment-of-trump-accounts-and-contributions
This week, we’re covering transition relief and guidance for claiming tips and overtime deductions on 2025 tax returns.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_01-20-26.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-claiming-tips-and-overtime-deductions-on-2025-returns
This week we’re covering LLC filings, and the answers to questions we get frequently from tax practitioners.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_01-18-26.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-tips-for-filing-llc-returns
This week we’re covering a change at the U.S. Postal Service that affects postmarks and makes filing and paying electronically even more important.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_01-13-26.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-why-its-even-more-important-to-file-and-pay-online
This week we’re talking about entities that ceased doing business but never dissolved, and what their options are.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_01-11-26.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-options-for-entities-that-never-formally-dissolved/
This week we’re talking about the tax effects of reclassifying marijuana to a Schedule III drug.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_01-06-26.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-tax-ramifications-of-reclassifying-cannabis-as-schedule-iii-drug
This week we’re covering California nonconformity to the federal rules for business meals and entertainment.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_01-04-26.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/california-nonconformity-to-business-meals-deductibility/
This week we’re covering a list of FAQs that we have received from tax professionals regarding Trump accounts.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_12-30-25.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-trump-account-faqs/
This week we’re covering tips for truly becoming a nonresident, as well as things not to do when trying to change residency.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_12-28-25.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-how-to-become-a-california-nonresident-12-28-25/
This week we’re covering categories of gifting that don’t apply to the annual and lifetime gift tax exclusions.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_12-23-25.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-understanding-the-annual-and-lifetime-gift-tax-limits
This week we’re covering the purpose of the economic nexus thresholds when taxpayers who fall below the thresholds are still being determined to be doing business in California.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_12-21-25.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-do-californias-economic-nexus-thresholds-mean-anything
This week we’re covering some of the new and updated forms for 2025 and 2026 following the enactment of the One Big Beautiful Bill Act.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_12-16-25.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-new-forms-on-the-block-irs-form-changes-and-releases
This week we’re covering the top 10 things to know about filing Form 540 for 2025.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_12-14-25.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-calsavers-household-employers-employee-owners-and-more
This week, we’re covering new guidance released on setting up and administering new Trump accounts.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_12-09-25.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-irs-issues-guidance-on-trump-accounts
This week we’re covering the top 10 things to know about filing Form 540 for 2025.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_12-07-25.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-top-10-must-know-tips-for-filing-2025-form-540
This week we’re covering things to consider regarding HSAs and FSAs before the end of the year.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_12-01-25.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-year-end-considerations-for-hsas-and-fsas-2/
This week we’re talking about tax planning for dissolutions that happen at the end of the year.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_11-30-25.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-remember-california-no-longer-requires-entities-to-dissolve-by-december-31
This week we’re covering employee emergency savings accounts and how these accounts operate.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_11-25-25.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-the-benefits-of-employee-emergency-savings-accounts
This week we’re covering important end-of-year tax-saving opportunities that your clients won’t want to miss out on.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_11-23-25.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-year-end-tax-planning-strategies
This week, we’re covering new and updated Form 1099-K FAQs that the IRS recently released.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_11-18-25.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-new-and-updated-form-1099-k-faqs/
This week we’re looking at various provisions that California now does or does not conform to following the passage of SB 711.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_11-16-25.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-california-conformity-or-lack-thereof-just-got-a-lot-more-complicated/
This week we’re covering draft 1099 forms with new lines for certain OBBBA deductions, and transition relief for reporting tip and overtime compensation for 2025.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_11-11-25.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/draft-forms-1099-nec-1099-misc-and-1099-k-and-transition-relief/
This week we’re covering ways to reduce tax caused by the elimination of California’s SDI wage base.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_11-09-25.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: https://spidell.com/research/california-taxletter/podcast-transcripts/podcast-reduce-tax-caused-by-californias-sdi-wage-base-elimination/
This week we’re covering California’s recent conformity to TCJA alimony provisions, and which taxpayers are affected.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_11-02-25.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/popcast-california-now-conforms-to-tcja-alimony-rules
This week we’re comparing Trump accounts to some alternative investment accounts for children under the age of 18.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_11-04-25.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-trump-accounts-and-their-alternatives-which-is-best
This week we’re covering new IRS Form 1098-VLI for the claiming car loan interest deduction and transition guidance for the car loan interest reporting requirements.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_10-28-25.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-new-form-and-transition-guidance-for-car-loan-interest-deduction
This week we’re covering new California conformity to retirement contribution deductions, following the passage of California’s conformity bill SB 711.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_10-26-25.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-understand-californias-new-retirement-contribution-deduction-conformity/
This week we’re covering updates that have been made to the 2025 Form 1040.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_10-21-25.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-updates-to-the-2025-form-1040/
This week we’re covering some changes to the California requirements to obtain a new CPA license and new exemptions from CTEC registration.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_10-19-25.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-new-california-cpa-and-ctec-licensing-and-registration-requirements/
This week we’re covering Form 1099-DA reporting requirements.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_10-14-25.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-prepare-now-for-form-1099-da
This week, we’re covering the Medi-Cal asset test, which was phased out in 2024 but will be reinstated starting in 2026.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_10-12-25.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-medi-cal-asset-test-reinstated-starting-in-2026
This week we’re covering the recently reduced PTIN fee and the new process for signing in to the PTIN system.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_10-07-25.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-reduced-ptin-fee-and-new-sign-in-process
This week we’re covering filing tips for taxpayers whose wildfire postponed filing deadline is approaching on October 15.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_10-05-25.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-october-15-filing-and-payment-postponement-traps-to-watch-out-for/
This week, we’re covering using a private letter ruling to waive the 60-day rollover requirement for fraudulent transfers from a retirement account.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_09-30-25.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: https://spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-requesting-a-plr-following-a-fraudulent-transfer-from-a-retirement-account/
This week, we’re covering changes to how certain multistate service providers, including tax professionals, apportion income to California.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_09-28-25.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-california-changes-rules-for-how-service-professionals-including-tax-professionals-are-taxed/
This week we’re covering some 2026 draft forms the IRS released, specifically the draft W-2, Schedule 1-A, and W-4.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_09-23-25.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-draft-2026-tax-year-forms-w-2-and-w-4-released
This week we’re covering an expanded income exclusion for certain taxpayers who received settlements to cover wildfire-related expenses.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_09-21-25.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-californias-wildfire-settlement-exclusion-expanded
This week we’re covering which taxpayers are winners and which are losers under the provisions of the One Big Beautiful Bill Act.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_09-16-25.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-obbba-winners-and-losers/
This week we’re covering when community ends for the purposes of community property laws.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_09-14-25.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-when-does-community-property-end
This week we’re covering further expansion of the IRS’s online individual tax accounts.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_09-09-25.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-irs-continues-to-expand-individual-tax-accounts-online
This week we’re covering the pros and cons of filing as married filing separate.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_09-07-25.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-pros-and-cons-of-filing-married-filing-separate
This week, we’re covering the expansion of IRC §529 qualified higher education expenses under the One Big Beautiful Bill Act.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_09-02-25.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-obbba-expansion-of-irc-529-qualified-higher-education-expenses/
This week we’re covering what to do in an FTB residency audit.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_08-31-25.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-what-to-do-in-an-ftb-residency-audit
This week, we’re covering the new Trump accounts that were established under the One Big Beautiful Bill Act.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_08-26-25.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/the-basics-of-new-trump-accounts
This week we’re covering entity identification numbers and classification changes.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_08-24-25.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-entity-identification-numbers-and-classification-changes/
This week we’re covering three of the enhanced credits under the One Big Beautiful Bill Act.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_08-19-25.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-enhanced-family-credits-under-obbba
This week we’re covering what to do when an estranged spouse won’t provide the required tax information.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_08-17-25.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-messy-divorces-what-to-do-when-an-estranged-spouse-wont-provide-the-required-tax-information
This week we’re covering the new personal exemption for seniors under the One Big Beautiful Bill Act.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_08-12-25.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-new-personal-exemption-for-seniors-under-obbba
This week we’re covering some recently enacted property tax law changes.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_08-10-25.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-recently-enacted-property-tax-law-changes
This week we’re covering changes made to the state and local tax deduction limitation under the One Big Beautiful Bill Act.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_08-05-25.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-obbba-changes-to-the-salt-deduction-limitation/
This week we’re covering how to avoid real estate withholding errors related to sales by trusts.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_08-03-25.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-real-estate-withholding-and-trusts-8-03-25
This week, we’re covering four important depreciation provisions contained in the One Big Beautiful Bill Act.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_07-29-25.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-depreciation-provisions-under-obbba
This week we’re covering California nonconformity to the provisions of the One Big Beautiful Bill Act.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_07-27-25.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-california-nonconformity-to-obbba
This week we’re covering changes to charitable contribution deductions made by the OBBBA.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_07-22-25.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-obbba-changes-to-the-charitable-contribution-deduction
This week, we’re covering the basics of the CalKIDS savings program because schools will begin notifying families about the accounts starting with this school year.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_07-20-25.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: https://spidell.com/research/california-taxletter/podcast-transcripts/podcast-calkids-college-savings-program
This week we’re covering the changes to various energy credits and incentives under the OBBBA.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_07-15-25.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-obbba-changes-to-energy-credits-and-incentives
This week we’re covering changes to California’s passthrough entity elective tax, following the passage of SB 132.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_07-13-25.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/california-taxletter/podcast-transcripts/podcast-big-changes-coming-to-californias-passthrough-entity-tax
This week we’re covering Medicare’s income-related monthly adjustment amount, and what taxpayers can do to lower this monthly surcharge.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_07-08-25.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-tips-for-lowering-medicare-premium-adjustments
This week we’re covering reporting income after a taxpayer leaves California.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_07-06-25.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: www.spidell.com/research/california-taxletter/podcast-transcripts/podcast-reporting-income-after-a-change-of-residency
This week we’re covering the tax ramifications of claiming a theft loss deduction for stolen cryptocurrency.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_07-01-25.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: www.spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-tax-ramifications-of-recovering-stolen-cryptocurrency/
This week, we’re covering the CalSavers registration requirement for businesses with at least one California employee.
To listen to this podcast, go to: https://traffic.libsyn.com/secure/spidellpublishing/SCM_06-29-25.mp3
Subscribers to Spidell’s California Taxletter® or the Online Research Package can access the transcript here: www.spidell.com/research/california-taxletter/podcast-transcripts/podcast-calsavers-reminder-for-businesses-with-at-least-one-california-employee/
This week we’re covering the latest expansion of the IRS’s Business Tax Account online self service tool for business taxpayers.
To listen to this podcast, go to: https://traffic.libsyn.com/3abc36a0-3ad2-42d1-b492-5741db3adc14/FTM_06-24-25.mp3
Subscribers to Spidell’s Federal Taxletter® or the Online Research Package can access the transcript here: www.spidell.com/research/spidell-federal-taxletter/podcast-transcripts/podcast-expanded-business-tax-account
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