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7 steps for an accurate and successful corporate tax return filing

ThomsonReuters

As a corporate tax professional, you know the complexities of complying with business taxation requirements. Your company may have to file corporate tax returns in multiple states and local jurisdictions, as well as with federal — and perhaps international — tax authorities. is a C corporation.

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Top Banks Looking To Washington For Growth, Clarity

PYMNTS

.’s largest banks are looking to Washington, D.C., According to Morgan Stanley CEO James Gorman, lower corporate taxes and more streamlined bank regulation could “allow U.S. But while many bank CEOs have fixed their eyes on Washington to promote industry growth, not every executive is optimistic.

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Ex-IRS Agent Accused of Filing Error-Filled Returns, Costing $42M in Lost Taxes

CPA Practice

(TNS) A Kennewick tax preparer cost the United States $42 million in lost tax revenue between 2017 and 2020 after filing tax returns that were riddled with errors, fabrications and fraudulent entries, alleges the Department of Justice. The Department of Justice filed a civil complaint in Eastern Washington District U.S.

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What’s new in sales tax?

TaxConnex

Among highlights: In some cases, local sales taxes exceed state rates. The five states with the highest average combined state and local sales tax rates are Tennessee (9.548%), Louisiana (9.547%), Arkansas (9.44%), Washington (9.4%) and Alabama (9.24%). California has the highest statewide sales tax rate, at 7.25%.

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What was new in October for state sales and use taxes

TaxConnex

The Tax Foundation released its State Business Tax Climate Index “designed to show how well states structure their tax systems” – including that of sales tax. The five worst states for business based on sales tax are Alabama, Washington, Louisiana, California and Tennessee.

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How Should a Small Business Owner Plan for Rising Taxes?

CPA Practice

The dramatic impact that a favorable turn in tax-related flows can have was demonstrated by the Employee Retention Credit, the refundable tax credit given to companies during the COVID-19 pandemic. A similar boost was the Tax Cuts and Jobs Act of 2017, which slashed corporate taxes to a 21% rate.

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4 Ways Finance and Accounting Pros Can Adapt Now to Working With Generative AI

CPA Practice

Consider recent research conducted by Thomson Reuters Institute that found one in 10 professionals in accounting firms and corporate tax departments are already using some form of generative AI on a widescale basis. operations, based in the Washington, D.C., The company has more than 300 locations worldwide. metropolitan area.