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Sales tax and nonprofits

TaxConnex

Any sales tax exemption for a nonprofit depends on the transaction’s relation to the organization’s main mission. Location, location, location 501(c)(3) organizations are exempt from sales tax on their purchases in Colorado and in Utah. Most states, like Michigan , require special registration for exemption.

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Friday Footnotes: How Much Big 4 Spent on Lobbying Last Year; Super Bowl Bets; CFOs Feeling Good | 2.9.24

Going Concern

IRS warns tax professionals to be aware of EFIN scam email; special webinars offered next week [ IRS ] The IRS warned that scammers are posing as tax software providers and requesting EFIN documents from tax professionals under the guise of a required verification to transmit tax returns.

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How to manage sales tax obligations

TaxConnex

You then need to create a billing process to apply tax to your invoice, manage your sales tax-exemption certificates and prepare and file sales tax returns. Your staff can be trained for the specific sales tax needs of your company, and you’ll have an in-house resource for future questions.

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Friday Footnotes: Why Private Equity Loves the Profession; A Very Naughty KPMG Employee; WTF PwC Guy | 4.5.24

Going Concern

At that firm, I was an external auditor for almost five years, and in the final year, I was working in our Financial Accounting Advisory Services group.” Moema, employed as a bursary specialist at auditing firm KPMG, appeared in the Commercial Crimes Court at Palm Ridge on Tuesday. The 2021-22 audit was due to the state on Oct.

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Friday Footnotes: PwC Partners Get Played; Bad Accounting on the Rise; Getting to the Bottom of the Shortage | 9.1.23

Going Concern

Audit Battle lines drawn over auditors’ role in combating fraud [ AccountancyAge “Patisserie Valerie pushed the issue of auditor responsibility [for fraud detection] to the fore after so many accounting scandals. Patrick did not provide copies of the accurate returns that had in fact been prepared by her accounting firm.

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