TaxConnex

SEPTEMBER 7, 2023

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.

Sales

TaxConnex

OCTOBER 4, 2022

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.

Sales

Going Concern

FEBRUARY 9, 2024

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.

Technology

Going Concern

SEPTEMBER 1, 2023

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. EY Assurance teams now process over 775b lines of journal entry data each year, as part of the EY digitally transformed audit.

Account

CPA Practice

SEPTEMBER 12, 2024

He also worked as an audit manager for a national accounting firm, managing public and private company audits. Allison Haug, CPA, joined the Firm as an Audit Senior Manager with 12 years of experience. She specializes in accounting and audits of insurance companies. She works remotely.

Kansas

CPA Practice

OCTOBER 18, 2023

Of the 45 states (plus the District of Columbia) that have a general sales tax, 10 stand out as being especially tricky for sales tax compliance: Arizona, California, Colorado, Florida, Illinois, Louisiana, Missouri, New York, Tennessee, and Texas. To illustrate the knottiness, here are some examples.

Sales

ThomsonReuters

JUNE 14, 2021

The IRS has posted a June 2021 draft version of the Form 941 , Employer’s Quarterly Federal Tax Return, instructions that take into account the amended and expanded coronavirus (COVID-19) pandemic tax credits and the new COBRA premium assistance credit from the American Rescue Plan Act (ARPA). Federal News. State and Local News.

payroll

CPA Practice

JANUARY 12, 2024

So let’s talk about Thomson Reuters synergy that was in Denver, Colorado, November 8 through 1120 23. So for example, in the audit product from Thomson, Jason Claudia, I basically started talking about how you can do PBC documents in auditing engagements to get, you know, gather the documents. And I’m Randy Johnston.

Technology

Going Concern

APRIL 5, 2024

Moema, employed as a bursary specialist at auditing firm KPMG, appeared in the Commercial Crimes Court at Palm Ridge on Tuesday. Folwell expresses doubts about EC’s long overdue audit [ The Daily Advance (North Carolina)] Another late city audit. The 2021-22 audit was due to the state on Oct. Watch this space.

auditor

Going Concern

AUGUST 23, 2024

Audit Clients in Response to Shortfalls [ Wall Street Journal ] Ernst & Young said it is cutting ties with many U.S. public companies as audit clients, a move to revamp its audit practice and improve the quality of its work. Eighty-four public companies exited EY as audit clients between Jan. EY Sheds U.S.

audit

TaxConnex

NOVEMBER 12, 2024

And with sales tax, as with most other kinds of tax, that fear is of an audit. This unwanted (and sometimes seemingly random) scrutiny from tax jurisdictions can terrify small companies. Around half (41%) of businesses surveyed were audited by their home state, 45% by other states. Review your nexus and taxability.

audit