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Accountants Aren’t the Most Concerned About AI’s Impact—Except in One State

CPA Practice

Coming on the heels of a Moss Adams study that revealed 69% of accountants believe artificial intelligence has a positive impact on the accounting profession, a new report from AI customer support company DevRev found that accountants don’t fear AI advancements the most among professionals in the U.S.

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Last Week in Payroll: Summertime Tax Tips

ThomsonReuters

The Vermont Department of Taxes has updated its guidance for remote workers. Anyone who is a non-resident but temporarily living and working in Vermont, has an obligation to pay Vermont income taxes on the income earned while living and performing work in Vermont. Remote worker guidance.

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State Sales and Use Tax Update

TaxConnex

Sales tax accounted for the largest decline, falling $918 million, or 23 percent. Sales tax is the largest source of state funding for the Texas budget, accounting for 60 percent of all tax collections. In Vermont , three letters can mean a lot. New York City tax revenues in March and April fell $1.15 billion (3.5

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2023 state legislatures break even on efforts to tax sports wagering?

ThomsonReuters

Earlier this summer, Kentucky, North Carolina, and Vermont all enacted laws that legalize and tax sports wagering activities. Start your free trial today.   The post 2023 state legislatures break even on efforts to tax sports wagering  appeared first on Tax & Accounting Blog Posts by Thomson Reuters.

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Recent Data Study Reveals Most Popular Side Hustle in Every U.S. State

CPA Practice

States with the least interest in finding a side hustle are Florida, Vermont, and Maine – all of which are on the East Coast. States with the highest level of interest in side hustle jobs in 2023 are Washington, Oregon, Idaho, and Utah – which could mean that the western U.S. is feeling the economic impact the most.

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Oct. 16, 2023, is Deadline for Millions Who Filed Tax Extensions; But Many Get More Time Due to Disasters

CPA Practice

Those affected by flooding in Vermont. The IRS Online Account feature provides information to help taxpayers file an accurate return including AGI amounts from last year’s return, estimated tax payment amounts and refunds applied as a credit. An IRS Online Account is needed, however, to use IRS Direct Pay. They have until Oct.

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Oct. 16, 2023, is Deadline for Taxpayers with an Extension

CPA Practice

Those affected by flooding in Vermont. The IRS Online Account feature provides information to help taxpayers file an accurate return including AGI amounts from last year’s return, estimated tax payment amounts and refunds applied as a credit. An IRS Online Account is needed, however, to use IRS Direct Pay. They have until Oct.