RogerRossmeisl

APRIL 30, 2024

According to the Treasury, the US government has provided auto dealers with >$580 million in advance payments for consumer electric vehicle (EV) tax credits since 1/1/2024.

Tax 257

Tax tax return CPA Government 257

CPA Practice

OCTOBER 17, 2023

In a Direct File report the IRS submitted to Congress on May 16, as required by the Inflation Reduction Act, 72% of American taxpayers surveyed said they were “very interested” in or “somewhat interested” in using a government tool to electronically file their tax returns.

tax return 116

tax return Tax South Dakota tax preparation 116

RogerRossmeisl

SEPTEMBER 19, 2022

When you filed your federal tax return this year, were you surprised to find you owed money? Receiving a tax refund essentially means you’re giving the government an interest-free loan. Adjust if necessary Taxpayers should periodically review their tax situations and adjust withholding, if appropriate.

income tax 246

income tax Tax tax return CPA 246

Withum

OCTOBER 6, 2022

Last week, the Federal Government released guidance allowing certain federal tax filings and payments to be extended until February 15, 2023, for the victims of Hurricane Ian. This relief also includes the filing of Form 5500 series returns that were required to be filed on or after September 15, 2022, and before February 15, 2023.

Government 124

Government income tax tax return Florida 124

RogerRossmeisl

NOVEMBER 13, 2022

IRS audit rates are historically low, according to a recent Government Accountability Office (GAO) report, but that’s little consolation if your return is among those selected to be examined. From tax years 2010 to 2019, audit rates of individual tax returns decreased for all income levels, according to the GAO.

audit 238

audit tax return CPA Tax 238

CPA Practice

SEPTEMBER 29, 2023

The federal government will partially shut down at 12:01 a.m. on Sunday, barring a last-minute deal between Republicans and Democrats in Congress to keep the government funded. million Americans file their 2022 income tax returns before the Oct. 16 tax extension deadline.

Government 119

Government tax return income tax Tax 119

CTP

OCTOBER 28, 2024

Your tax filings and related documentation might be relevant, so you would need to ensure that household payroll tax returns are filed, for example. From a tax planning perspective, careful charitable planning opens the door to great tax reduction strategies.

Tax 105

Tax Government Real Estate payroll tax 105

CTP

JANUARY 17, 2025

We will especially want to have this conversation if our clients tax return features one of the IRS red flags of the season. Below are key talking points we will want to review with clients to reassure them that we are prepared to walk them through an audit and to remind them of why working with a tax planner pays off in the end.

audit 96

audit Tax auditor tax return 96

RogerRossmeisl

FEBRUARY 7, 2021

When it comes to taxes, December 31 is more than just New Year’s Eve. That date will affect the filing status box that will be checked on your 2020 tax return. When filing a return, you do so with one of five tax filing statuses. In part, they depend on whether you’re married or unmarried on December 31.

tax return 200

tax return Legal CPA Tax 200

Withum

APRIL 14, 2025

Pass-Through Taxation: Profits and losses can be passed through to the member’s personal tax returns, avoiding double taxation. Cons Self-Employment Taxes: Profits may be subject to self-employment taxes unless the LLC elects S Corporation taxation. citizens or residents. Which Entity is Right for You?

tax return 80

tax return corporation tax payroll income tax 80

CPA Practice

OCTOBER 14, 2024

Tax departments are expected to be the leaders for most organizations as they move quickly along the GenAI maturity curve. For example, businesses are already using GenAI to make indirect tax returns more accurate at the time of filing, eliminating the need to seek refunds years later, EY says.

corporation tax 117

corporation tax Tax Finance Technology 117

TaxConnex

JANUARY 30, 2024

Laws governing marketplace facilitators popped up when states began to realize that platforms like Amazon were taxing sales of their products but not necessarily charging sales tax on third-party (aka “marketplace”) sales. Facilitators also differ from sellers in compliance obligations.

Iowa 264

Iowa Pennsylvania Illinois Sales 264

TaxConnex

JULY 30, 2024

Exemption certificates are generally either entity-based (resellers, not-for-profits, federal and some state government agencies) or product-based. To prove sales tax exemption, the customer must provide a certificate. They should describe the product sold, what it’s for and the purchaser’s sales tax registration number.

South Dakota 264

South Dakota Alaska New Hampshire Montana 264

CPA Practice

FEBRUARY 26, 2025

The tax data was stolen and leaked to the media by Charles Littlejohn, a former government contractor who was convicted and sentenced last year to five years in prison.

tax return 95

tax return Tax Government income tax 95

SkagitCountyTaxServices

NOVEMBER 8, 2023

Specifically, that means high-income earners, partnership income tax returns, large corporations, and promoters “aggressively peddling abusive schemes.” Some history on this… The Bipartisan Budget Act of 2015 brought about significant changes in how the IRS handles partnership income tax returns.

income tax 78

income tax tax return Tax audit 78

Accounting Today

JUNE 5, 2024

The Internal Revenue Service is turning to artificial intelligence to help select tax returns to audit and narrow the tax gap, but it needs to use this new technology consistently and transparently, according to a new government report.

Tax 133

Tax tax return audit Government 133

CPA Practice

APRIL 7, 2023

The Department of Justice is warning taxpayers to choose their return preparers wisely as the April 18 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.

tax preparation 132

tax preparation Tax tax return income tax 132

inDinero Tax Tips

OCTOBER 22, 2024

Nevada Commerce Tax Instead of a franchise or corporate income tax, Nevada charges a “commerce tax” on businesses with gross receipts of over $4,000,000. See here for a list of applicable tax rates. The Nevada Commerce Tax Return can be filed here. What is the sales tax in Nevada?

Nevada 105

Nevada Tax income tax payroll tax 105

TaxConnex

AUGUST 31, 2023

Since, every state with a statewide sales tax (and countless localities, especially in places like California and Alaska ) has enacted economic nexus laws, meaning e-commerce vendors of products and, increasingly, services must collect and remit sales tax and file sales tax returns with individual states.

Sales 264

Sales E-commerce Tax Alaska 264

Accounting Insight

JANUARY 16, 2025

Do you feel ready to do your Self Assessment tax return with a smile this year? Late filing The deadline for filing your Self Assessment tax return online is midnight 31 January 2025. If you are over 3 months late submitting your tax return, you will have to pay more.

tax return 52

tax return quickbooks Tax income tax 52

CPA Practice

JULY 6, 2023

Technologists Randy Johnston and Brian Tankersley, CPA, discuss models for technology governance. Today we’d like to talk about technology governance. And today’s session on technology governance really got a kind of a boost in my mind. And I think this is a interesting model for technology governance. SPEAKERS Brian F.

Technology 98

Technology Government audit quickbooks 98

SkagitCountyTaxServices

MARCH 6, 2025

And unfortunately, its not mostly the fun stuff keeping you busy its things more on the housekeeping side of running your business, like meeting tax and other important government deadlines. Monday, March 17 : S corporation and partnership tax returns are due for calendar-year businesses. Whats in it for you?

tax return 72

tax return Tax CPA income tax 72

TaxConnex

MARCH 2, 2021

Maryland has also extended time free of interest and penalties to file sales and use tax returns due between Jan. This affects returns for sales taking place from December through this month. Minnesota wants comments on possible rules governing sales and use tax recordkeeping and consolidated return requirements.

Sales 246

Sales Tax Missouri Wisconsin 246

CPA Practice

OCTOBER 30, 2023

The tax forms to which this e-signature flexibility applies include: Form 11-C, Occupational Tax and Registration Return for Wagering Form 637, Application for Registration (For Certain Excise Tax Activities) Form 706, U.S. Real Estate Mortgage Investment Conduit (REMIC) Income Tax Return Form 1120-C, U.S.

tax return 132

tax return income tax Real Estate Tax 132

TaxConnex

SEPTEMBER 26, 2023

Usually all retail sales of tangible personal property (TPP) are taxable, but many states have started to tax services. Who the customer is and what they’ll use the TPP for can create a sales tax exclusion, too, such as when selling to a church or government agency. Setting up a filing process.

Sales 264

Sales Tax South Dakota Colorado 264

ThomsonReuters

FEBRUARY 4, 2025

A tax manager from a large Canadian firm noted in the 2024 Tax Firm Technology Report, “AI will speed up the research portion and repetitive tasks within the firm for sure.” Integration with existing systems: Barrier : Integrating AI with existing systems can be challenging.

accounting firms 98

accounting firms Tax Account accountant 98

Going Concern

JULY 13, 2022

We’ve now learned that the government is sending subpoenas to CPA firms that referred clients to Alliantgroup and is seeking client tax returns as part of the investigation. The firm’s counsel is handling the subpoena response and as yet, no data has been provided to the government.

cpa firm 137

cpa firm CPA tax return Government 137

ThomsonReuters

OCTOBER 18, 2024

Key components of statutory reports include financial statements and ESG disclosures, enhancing stakeholder trust and governance. Statutory reporting is the mandatory disclosure of financial and non-financial information by companies and organizations to designated government agencies and regulatory bodies. What is statutory reporting?

Non-Profits 52

Non-Profits Legal financial statements tax return 52

MyIRSRelief

OCTOBER 3, 2022

Taxes can be broken down into three categories: what you purchase, what you own, and what you earn. They contribute to resources such as our government, educational systems, law enforcement, libraries, and others. However, individuals who fail to pay taxes can suffer penalties and potential criminal charges.

tax services 147

tax services California Tax tax preparation 147

Withum

JANUARY 13, 2022

From the Paycheck Protection Program (PPP) to the Employee Retention Credit (ERC), small businesses were infused with billions of dollars in government assistance to keep the economy running and businesses afloat. Now that these programs are expiring it is time to report all these funds on taxpayer’s 2021 business tax returns.

Tax 126

Tax tax return income tax corporation tax 126

TaxConnex

NOVEMBER 22, 2022

In our blog last week, we looked at how sales and use tax advisory services might be a good new field for CPAs and accounting firms. Accounting and CPA firms looking to expand their services into the sales and use tax niche, often have pent-up demand within their own client base. Review the sales tax payable account.

accounting firms 130

accounting firms Sales Tax tax return 130

CTP

OCTOBER 30, 2024

Established, wealthy families have long leveraged the concept of a “family office” to preserve their wealth, ensure business succession, establish governance and control, and foster their family legacy. The deduction covered the portion of these expenses that exceeded 2% of their adjusted gross income.

Tax 97

Tax Real Estate cpa firm tax return 97

Going Concern

NOVEMBER 8, 2024

Law & Order Clark Hill Wins for Accounting Firm in Tax Dispute With Rock Band Member [ Clark Hill ] The Clark Hill trio convinced the court that the accounting firm was not liable for an employee’s business management and tax preparation services she provided on the side for a member of a rock band.

Florida 98

Florida Mississippi audit auditor 98

Accounting Insight

MAY 6, 2025

In a compliance-driven profession, accountants need more than just their clients to provide them with their right information; they also need the governments systems and processes to be working adequately. The drive to digitise tax filings is representative of technology as the silver bullet to improve government departments efficiency.

tax return 52

tax return Government Tax Account 52

Going Concern

OCTOBER 10, 2024

ACCOUNTING CANDIDATES FTE Accounting | Candidate ID # 22574493 Certifications: EA in process Education: BA Business Experience (years): 20+ years accounting experience Work experience (detail): Currently Accountant & Office Manager at a CPA firm Full cycle accounting, reconciliations, financial reporting AP/AR, payroll processing and quarterly (..)

Real Estate 59

Real Estate Account accountant accounted 59

TaxConnex

OCTOBER 6, 2022

Are they nonprofits, resellers, government entities or in some other industry that has an exemption to sales and use tax? It’s typically just 36 to 48 months for a registered taxpayer who’s filing sales and use tax returns on time. The statute of limitations.

Sales 246

Sales Tax tax return Start-ups 246

CPA Practice

OCTOBER 8, 2024

Casualty loss deductions Taxpayers who experience uninsured or unreimbursed losses due to federal disasters have the opportunity to claim these losses as itemized deductions on their tax returns. on their 2024 tax return) or they may elect to claim the losses on their 2023 tax return to potentially expedite access to a tax refund.

South Carolina 116

South Carolina North Carolina Tax tax return 116