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2024: What’s coming up in sales tax

TaxConnex

Weaker state revenue The kind of year it’s going to be for state coffers could greatly influence such future sales tax trends as new levies, tougher nexus thresholds and intensifying audits. If so, watch out for 2024. Digital code” means a key, activation or enabling code that conveys a right to obtain digital goods.

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eSports Industry Trends

Withum

Among the most dramatic has been in the eSports and online gaming arenas which boasted a market value, for the first time in its short history, of over $1 billion at the end of 2020 and is expected to double to just over $2.1 For more information on this topic, please contact a member of Withum’s Sports and Entertainment Services Team.

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Taking Aggressive Tax Positions in Light of the Expected IRS Hiring Binge

Withum

Before this new funding, taxpayers of all stripes and income brackets enjoyed a period of very low audit rates due to the IRS’s shrinking workforce, which further exacerbated the audit statistics. As a result, the chances of getting audited became about the same as the odds of winning the Power Ball lottery.

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Friday Footnotes: Firms Get a Jump on Hiring; RTO Firms Outsourcing ?; BDO Settles 401(k) Suit | 12.22.23

Going Concern

It is understood that outsourcing would leave the firm less reliant on recruiting additional accountants from the tight labour market, which has seen large audit and consulting firms struggle to recruit new talent. Documents related to the Senate inquiry were released Friday.

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The Pandemic's Impact on Businesses and Sales Tax: An Update

TaxConnex

As movie theaters closed, production companies looked to streaming services as a way to release new content and produce some sort of revenue while entertaining the public who remained in lockdown. What we all hope is the end game for COVID in the U.S. Digital media and streaming services benefitted from everyone stuck in their homes.

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Friday Footnotes: Tim Ryan Is Leaving PwC; Ditch the Deloitte Polo; KPMG Gung-Ho on RTO? | 10.13.23

Going Concern

As the end of former PwC CEO Luke Sayers’ lengthy questioning approached, Senator O’Neill reproduced a submission from PwC Australia in 2019 to a Senate inquiry at the time that was examining audits and consulting firms. The same firm also failed to meet the target in 2022.

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New Tech and Innovation at CES 2024

CPA Practice

Blockchain: Blockchain technology was touted as revolutionizing the auditing profession, but instead faced major public backlash for failures in the crypto currency arena. In the gaming realm, real currency is used to purchase virtual merchandise (game skills, weapons, decorative skins, etc.)