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What’s new in sales tax?

TaxConnex

There’s always something changing in the world of tax, especially sales tax. The Court of Appeals of South Carolina has affirmed a state Administrative Law Court (ALC) finding that the online retail giant remains liable for eight figures in unpaid sales tax on third-party sales from 2016, interest and penalties.

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What was new in September for state sales and use taxes

TaxConnex

There’s always something changing in the world of tax, especially sales tax. The Urban Institute told news outlets that 25 states recently reported year-over-year declines in sales tax receipts, a jump of more than a third in just a month. Nationwide, sales tax receipts were up 1.5% Inflation bites. in real terms.

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Friday Footnotes: RTO Isn’t Going So Great; KPMG Wins Something; What Auditors? | 5.19.23

Going Concern

How the tax leaks scandal forced PwC out of the shadows [ Australian Financial Review ] A brutal news cycle shredded any hope PwC had that this would be a circuit breaker. Labor senator Deborah O’Neill, who helped reveal the extent of the tax leaks, homed in on the review. Chinese companies switch auditors to avoid U.S.

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Friday Footnotes: Big 4 Nixes Legal Practices; EY Looks the Other Way; Auditors Get Lectured Again | 10.14.22

Going Concern

Whistleblowers have accused EY of whitewashing suspicions of money laundering and tax evasion in an investigation it conducted this year for longstanding client Leonteq. The opening will strengthen the firm’s presence in both North and South Carolina, bringing our teams closer to clients throughout the southeastern United States.

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150 Hour Rule: Let’s Keep Arguing About What Color the Drapes Should Be While the House is Burning Down

Going Concern

Amanda Iacone at Bloomberg Tax has written the accounting niche’s 1,735th article about the accountant shortage and this time, as is often the case, the focus is 150 hours. Apparently South Carolina has joined them. We needed to take some action.” It’s a shallow pool, and we have to do something about the leak.”

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Friday Footnotes: Fired Accountant Spills the Dirty Laundry; Scandals of Yore; Gen AI For Good | 1.26.24

Going Concern

How AI is transforming audit [ Thomson Reuters ] In the past, auditors have heavily relied on manual processes to uncover risks in financial statements and business operations. This allows auditors to shift attention to more complex and strategic work, like interpreting results and offering experience-based insights to clients.

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Friday Footnotes: CPA Exam Scares Accounting Majors Away; EY Loses Fees in China | 5.12.23

Going Concern

a public accounting firm that services businesses and individuals, plans to open a 4,200-square-foot office near the Landmark shopping center in July, said Ann Koenigsman, a tax partner who is heading up the opening of the Denver location. The firm is relocating from Grosvenor Place. based IPA 100 firm Schellman of (FY21 net revenue of $101.9

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