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Mississippi Tax Preparers Sentenced to Prison for False Tax Return Conspiracy

CPA Practice

A group of Mississippi tax return preparers were sentenced to prison on February 22, 2024, for charges related to a conspiracy to prepare and file false tax returns for clients in Jackson, Mississippi. million in tax loss to the IRS. Goldberg of the Justice Department’s Tax Division made the announcement.

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What’s new: state sales and use taxes

TaxConnex

There’s always something changing in the world of tax, especially sales tax. Florida sales tax exemptions on hurricane-preparedness items may soon encompass purchases of pet food, thanks to the lobbying of a local Girl Scout troop. has become the second state this year to expand its sales tax exemption involving gold and silver.

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Feds Cracking Down on Unlawful Tax Return Preparers

CPA Practice

The Justice Department is advising taxpayers to choose their return preparers wisely as the April 15 federal tax filing deadline approaches. Unscrupulous preparers who include errors or false information on a tax return could leave a taxpayer open to liability for unpaid taxes, penalties and interest.

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Some States Are Considering Shelving the Grocery Tax

CPA Practice

By Marsha Mercer, Stateline.org (TNS) As inflation soared in the past year, families in some states suffered a double whammy—paying food sales taxes on top of higher-priced groceries. At least five of the 13 states where groceries were taxed as of last Jan. Grocery taxes that remain are “there for a reason. In 2021, about 13.5

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States With the Highest- and Lowest-Earning College Grads

CPA Practice

Policies and regulations, such as minimum wage laws, tax policies, and labor regulations, differ across states and therefore impact earnings across institutions, says Cole Vineyard, founder of Teach Simple. States with the lowest-earning graduates On the other hand, these are the states with the lowest earning graduates.

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State-by-State Guide to Back-to-School Sales Tax Holidays

CPA Practice

This list includes every back-to-school sales tax holiday this summer, from July 27, 2023, through the end of August. Rules for tax-free shopping can vary from state to state. So, just because something is tax-exempt in one state doesn’t mean it will be in another. Does Summer Camp Qualify for a Childcare Tax Credit?

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Legal analysis: Implications of state tax exclusion of overtime wages for employers and employees

ThomsonReuters

Checkpoint Payroll Update caught up with John Wertz, tax attorney and partner at Holland & Knight’s New York office, to discuss this first-of-its-kind law. Wertz, a veteran in state and local taxes for over 30 years, explained that the law applies only to full-time hourly employees.