TaxConnex

JANUARY 4, 2024

No year’s ever dull in sales tax, and the pace has only accelerated in the five years since the Supreme Court’s Wayfair decision. As we start the new year, here’s a look back at some significant sales tax events from 2023. This year, multiple states introduced new sales tax exemptions, too.

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Sales Tax Colorado Alaska 231

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.

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Government tax return income tax Tax 119

SMBAccountant

OCTOBER 21, 2020

There are certain expenses that a business incurs that the federal government does not reimburse. While these costs may be legitimate business expenses, the federal government may disallow a cost which means it cannot be reimbursed using the incurred costs rates calculated to reimburse costs for cost contracts.

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Government general ledger Account accountant 246

CPA Practice

SEPTEMBER 26, 2023

Taylor, Kiplinger Consumer News Service (TNS) The prospect of a government shutdown is spotlighting several federal agencies. After releasing a multibillion-dollar spending plan for the funding, the IRS launched new compliance initiatives focused on tax-evading millionaires, high earners, complex partnerships, and corporations.

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Government audit Tax Washington 111

Going Concern

JULY 14, 2023

So the firms are up against the Australian Senate this week, answering uncomfortable questions about their inner workings all because one PwC partner couldn’t keep his mouth shut and blabbed confidential government tax intel back to the firm so PwC could make some money off of it. Deloitte just admitted that yes, yes they did.

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Government Tax audit 98

Going Concern

SEPTEMBER 21, 2023

The Australian government released exposure draft legislation yesterday in response to “the PwC matter” and the funniest part is the special email they made to receive comments: PwCResponse@treasury.gov.au. Not ConsultingReponse or Sept23TaxReform, specifically PwC Response.

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Government Tax 109

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.

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income tax Tax tax return CPA 246

SMBAccountant

DECEMBER 16, 2020

These programs are offered by the government to encourage innovation with the potential for commercialization. These programs often result in technology or products that begin with government use and then become commercial items. More information regarding these programs can be found at sbir.gov/about.

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Government Account accountant accounted 246

Accounting Insight

DECEMBER 20, 2022

Self-employed individuals and landlords will have more time to prepare for Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA), following a government announcement today (19 December 2022). It is important to ensure this works for everyone: taxpayers, tax agents, software developers, as well as HMRC.

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Government Tax income tax Account 83

Going Concern

APRIL 29, 2024

Ziggy Switkowski AO (the AO stands for Officer of the Order of Australia, given by the government to individuals for distinguished service of a high degree to Australia or to humanity at large). Building a leading culture is also emphasised as a key driver for the firm to deliver its purpose.

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Government Tax audit Construction 62

RogerRossmeisl

JULY 13, 2022

Some people who begin claiming Social Security benefits are surprised to find out they’re taxed by the federal government on the amounts they receive. If you’re wondering whether you’ll be taxed on your Social Security benefits, the answer is: It depends. The post Do You Have to Pay Tax on Social Security Benefits?

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Tax CPA Government 242

RogerRossmeisl

AUGUST 6, 2023

Government officials saw a large increase in the number of new businesses launched during the COVID-19 pandemic. If you’re one of the entrepreneurs, you may not know that many of the expenses incurred by start-ups can’t be currently deducted on your tax return. And the U.S. from April 2023 to May 2023). The post Starting a Business?

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tax return Tax Start-ups CPA 221

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. Managing the process Calculating sales tax.

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Sales Tax South Dakota Colorado 201

CPA Practice

APRIL 15, 2024

Progress was cited in eliminating most of its tax return backlog, more on-time tax refunds, and improvements in customer service availability and responsiveness. Explosion in data sharing Tax agencies worldwide recognize the untapped potential of integrating new data sources into their processes.

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Tax Kansas Real Estate Government 119

TaxConnex

OCTOBER 3, 2023

There’s always something changing in the world of tax, especially sales tax. billion in tax revenue on sales tax holidays that offer breaks on such goods as back-to-school or disaster-preparedness items. The other prevalent argument is that sales tax holidays are a way of giving tax relief. “The

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Sales Louisiana Tax Tennessee 147

TaxConnex

JULY 29, 2021

Sales tax is complex for any business selling into multiple states. Chicago is a home rule city and taxes several items that are not taxable at the state level. To further complicate this, Chicago does not apply sales tax to SaaS rather they apply a personal property lease transaction tax which is currently 9%.

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Sales Tax Illinois audit 242

Inform Accounting

OCTOBER 14, 2022

In this press conference, the September tax cuts as promised in the mini-budget have been watered down even further. What we know so far is that: The Corporation Tax will rise from 19% to 25% in April 2023. What is still, apparently, going ahead from the mini-budget is: The income tax basic rate cut by 1p to 19p in April 2023.

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Government Tax corporation tax income tax 52

CPA Practice

MAY 22, 2023

Most people think about taxes and tax season—and the piles of paperwork and forms that coincide. They aim to help American taxpayers and the greater tax community through nearly 200 projects and initiatives. Take, for example, the Latvian government. But what if the IRS was more digitized?

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Government Tax Technology 111

Cherry Bekaert

MAY 22, 2024

Contributor: Michael Wallach, Senior Manager, Tax Services Established by the Tax Cuts and Jobs Act, the Opportunity Zone program has been a focal point for investors seeking tax incentives while simultaneously revitalizing economically distressed communities.

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Tax Real Estate Sales tax services 110

CPA Practice

MAY 14, 2024

Has your business recently discovered it’s liable for communications tax? Across sectors, countless telecommunications companies are learning that new technologies can subject them to additional regulatory fees and special taxes. Now, the question is: How will your company stay compliant if it’s taxed with higher complexity?

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Tax Technology Sales audit 104

CPA Practice

MARCH 12, 2024

By Zina Hutton, Governing (TNS) No one likes paying taxes and property taxes are always the least popular. Some lawmakers are now looking to eliminate them entirely, with anti-tax initiatives also being proposed for this year’s ballots. But prices seem to have risen everywhere, which has led to increased property taxes.

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North Dakota Idaho Tax Michigan 114

Withum

MARCH 12, 2024

The cannabis tax community is abuzz with rumor and delight. The giddiness stems from a recent announcement by a publicly traded cannabis company that it obtained large tax refunds from the IRS, even though the company has been tightlipped about the reason for the refunds.

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Tax tax return Legal Manufacturing 120

CPA Practice

APRIL 8, 2024

With the increasing complexity of tax laws and regulations, tax professionals are constantly facing challenges in keeping up with the ever-changing landscape. CPA Pilot ‘s AI tax assistant leverages advanced algorithms to analyze data and offer precise insights quickly.

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CPA Tax Technology cpas 122

ThomsonReuters

JULY 10, 2023

Jump to: What is sales tax? What is use tax? Sales tax vs. use tax Summary Calculating, collecting, and reporting sales tax and use tax can get complicated as a business grows, and it can be easy to confuse these two types of indirect taxes. What is sales tax?

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Sales Tax Arizona Georgia 97

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. The lack of state income tax extensions for victims of Hurricane Ian may require additional compliance procedures to avoid penalties. affected taxpayer)?

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Government income tax tax return Florida 125

CPA Practice

MAY 3, 2024

Sales tax holidays are all the rage right now. There were about 45 sales tax holidays in 24 states in 2023 and could be even more than that in 2024. If you’re in retail, hang on to your hats and read our sales tax holiday FAQ to learn: What is a sales tax holiday? Do all states have a tax holiday? By Gail Cole.

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Sales Tax Nevada West Virginia 119

CPA Practice

MAY 14, 2024

The NYU School of Professional Studies Division of Programs in Business will host the 2024 Federal Real Estate and Partnerships Tax Conference at the Mayflower Hotel in Washington, DC, from June 6 to 7. Principal, Washington National Tax, RSM US, Washington, DC Troubled Business Workouts James B. Johnson, Esq. Sowell, Esq.,

Real Estate 96

Real Estate Tax Washington New York 96

CPA Practice

APRIL 11, 2024

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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tax return Tax tax preparation Florida 116

CPA Practice

MAY 7, 2024

taxes are likely to rise as lawmakers look to narrow the federal deficit, Warren Buffett said, as Washington prepares for major tax negotiations next year. Higher taxes are quite likely, and if the government wants to take a greater share of your income or mine or Berkshire’s, they can do it. We think it’s appropriate.”

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corporation tax Tax income tax Washington 105

CPA Practice

AUGUST 11, 2023

IVIX , the first AI-powered platform designed to help governments address pervasive financial crimes and tax evasion at scale, has closed a $12.5M Every year, at least $20 trillion in global business activity goes unreported to tax authorities.

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Tax Technology E-commerce Government 98

CPA Practice

MARCH 7, 2024

The President set out his plan to reduce the deficit by $3 trillion over 10 years by increasing taxes for the wealthiest individuals and corporations. In his State of the Union speech, President Biden announced a proposal to deny corporations a tax deduction when they pay more than $1 million to any employee. Mark Friedlich , ESQ.,

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Tax corporation tax Washington Government 122

CPA Practice

APRIL 16, 2024

By Justin Sink, Bloomberg News (TNS) President Joe Biden and first lady Jill Biden paid $146,629 in federal income taxes on a combined $619,976 in adjusted gross income in 2023—meaning the first family paid an effective federal income tax of 23.7%—according according to tax filings released by the White House.

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Tax income tax tax return Pennsylvania 111

inDinero Tax Tips

MAY 13, 2024

What is payroll tax? It’s money collected from employee wages and used to fund Social Security, Medicare, unemployment insurance, and other government programs. Since businesses are responsible for calculating, withholding, and remitting the tax to the government, navigating this process can be an administrative challenge.

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payroll tax payroll Tax income tax 52

Going Concern

JANUARY 12, 2024

federal government shutdown in coming weeks would likely disrupt the soon-to-start tax filing season for 2023 income, the head of the Internal Revenue Service said on Friday, even as the agency takes some steps to ensure that tax collections continue. Obligatory /s Reuters , just moments ago: A U.S.

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Tax Government 101

CPA Practice

APRIL 24, 2024

The IRS said it has offered alternative dispute resolution programs for years at various stages of the tax administrative process. However, the agency said use of the programs has declined recently.

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Tax Education Government Account 130

Menzies

MARCH 14, 2023

Following Brexit, to make Britain more attractive to innovative companies and tech entrepreneurs, the UK government has been promising fiscal changes. Bold tax decisions now could accelerate the way to a brighter economic future. Instead, things are moving in the wrong direction. Instead, things are shifting in the wrong direction.

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Government Tax corporation tax chartered accountant 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.

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Technology Government audit quickbooks 98