Withum

MARCH 2, 2024

In a surprise decision Friday night, a federal district court ruled that the Corporate Transparency Act (“CTA”) is unconstitutional, effectively placing the Beneficial Ownership Information (BOI) reporting on hold. Contact Us Please reach out to Withum’s Tax Services Team if you have any questions about how this may affect your business.

Ohio 140

Ohio Non-Profits tax services Tax 140

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.

Government 96

Government Tax audit 96

TaxConnex

FEBRUARY 15, 2024

There’s always something changing in the world of tax, especially sales tax. B&O responsibility: A Washington State appellate court has found two sellers responsible for sales tax and business and occupation (B&O) tax on sales made through Amazon’s Fulfillment by Amazon (FBA) program. No refund, stat!:

Sales 189

Sales Tax Illinois Washington 189

TaxConnex

FEBRUARY 6, 2024

Sales tax is not something top of mind for most executives, but it is something that the majority of businesses will have to manage at some level. No matter the size of your business, if you are selling a taxable product or service and establish nexus in specific states or jurisdictions, then you have a sales tax obligation.

Sales 213

Sales Tax Technology auditor 213

MyIRSRelief

MAY 15, 2024

Nonprofit Tax Service by Mike Habib, EA Nonprofit organizations play a crucial role in society, offering valuable services and advocacy. However, managing tax compliance can be a significant challenge due to the complex nature of tax laws and regulations. Get professional help by calling us at 1-877-78-TAXES [1-877-788-2937].

Tax 130

Tax payroll tax payroll tax preparation 130

MyIRSRelief

FEBRUARY 23, 2024

Facing the IRS can be a daunting experience, especially when dealing with unpaid back taxes, unfiled returns, and the looming threat of bank levies. For many, the stress and confusion surrounding tax debt can feel overwhelming. Furthermore, failure to file tax returns can result in hefty fines and legal repercussions.

tax return 130

tax return Tax CPA accounting and finance 130

TaxConnex

MARCH 26, 2024

We are at the end of Q1 of 2024 and continue to discuss how to ensure your business is set up to get sales tax right in 2024. If you’re like the over 49% of businesses who participated in our annual sales tax trends survey and are unsatisfied with the way you are managing sales tax, then you’re in the right place.

Sales 158

Sales Tax tax return Retail 158

TaxConnex

SEPTEMBER 28, 2023

Now it’s time to register with the states to collect and remit sales tax. You complete your sales tax registrations and file them with the departments of revenue or taxation in each state. These registrations are called sales tax permits, sometimes licenses. New York calls theirs a “sales tax certificate of authority.”

Sales 147

Sales Tax West Virginia North Dakota 147

TaxConnex

OCTOBER 24, 2023

Know what word in sales tax also has five letters? Few issues in the area of tax are more terrifying than this kind of exam from a tax authority. Sales tax audits can certainly become nightmares – but they can be handled, too, with the right steps, allowing you and your business to move forward. Organize your information.

audit 147

audit Sales Tax auditor 147

TaxConnex

FEBRUARY 1, 2024

It’s also safe to say that its storyline of repetition seems to echo what you must do, over and over and over, to comply with sales tax laws. It’s a doozy! – “Needlenose Ned” Ryerson There are multiple steps to make sure your sales tax compliance works well. The days you get over and over with sales tax are deadline days.

Sales 229

Sales Tax Minnesota Colorado 229

TaxConnex

NOVEMBER 16, 2023

They may have infrastructure in place to support the sales tax requirements of their existing business, but the telecommunications service presents a different set of issues. Telecommunications services is one of the most highly taxed and regulated industries in the country.  in Q4 2023, there is a significant savings opportunity. 

Tax 211

Tax Sales 211

TaxConnex

NOVEMBER 28, 2023

does not free you from the complexities of sales tax. In many countries, you will run into some kind of sales tax – familiar if you’re used to selling in the U.S., You pay any VAT liabilities to the tax office of the appropriate country. tax jurisdictions in which they have nexus. (A Selling outside the U.S.

Sales 208

Sales Tax Transportation Maine 208

Accounting Today

FEBRUARY 21, 2024

The president's son's lawyers filed a flurry of motions in the federal court seeking to have the tax charges dismissed.

Tax 62

Tax 62

CPA Practice

DECEMBER 6, 2023

By Laura Weiss, CQ-Roll Call (TNS) The House Ways and Means Committee huddled behind closed doors on Tuesday in a daylong session that ended with it publicly releasing additional documents as part of its probe into the investigation of Hunter Biden’s taxes. Ways and Means Chairman Jason Smith, R-Mo., Ranking member Richard E.

Tax 52

Tax 52

CPA Practice

MAY 13, 2024

a provider of cloud-based tax compliance automation for businesses of all sizes, has expanded its partnership with Shopify Inc., a provider of essential internet infrastructure for commerce, by joining the Shopify Tax Platform. For more information on Avalara for Shopify, click here. Avalara, Inc. ,

Tax 110

Tax tax return Sales 110

CTP

JANUARY 16, 2024

The Corporate Transparency Act took effect on January 1st, which means that many businesses will need to submit a Beneficial Ownership Information Report to the Financial Crimes Enforcement Network (FinCEN). on or after January 1, 2024 are required to provide information on their company applicants. Tax Identification Numbers.

business tax 52

business tax Tax Legal Government 52

Withum

FEBRUARY 20, 2024

The goal of minimizing tax liability likely drives a desire to discover new advantages in the tax law. If this sounds familiar to you, when planning for the upcoming tax year, a great place to start is with the basics. Let’s Chat The post 2024 Tax Pocket Guide appeared first on Withum. We can help.

Tax 120

Tax tax planning tax services 120

CPA Practice

MAY 15, 2023

The American Institute of CPAs (AICPA) joined a coalition of organizations who have come together to make taxpayers and practitioners aware of the new Beneficial Ownership Information (BOI) reporting requirement. The coalition includes the following organizations: AICPA, Latino Tax Pros, National Association of Black Accountants, Inc.

CPA 115

CPA Tax cpas public accounting 115

KROST

AUGUST 15, 2023

Starting January 1, 2024, business owners will face additional reporting requirements enforced by the Financial Crimes Enforcement Network (FinCEN), in compliance with the Corporate Transparency Act’s (CTA) Beneficial Ownership Information (BOI) Reporting Rule. The reporting Read the full article.

Tax 83

Tax 83

Shay CPA

FEBRUARY 21, 2024

Starting January 2024 (read: this already applies), the vast majority of companies operating across the country need to submit an annual report called Beneficial Ownership Information (BOI). To file, you need to input information on any beneficial owners. Essentially, this tells FinCEN cui bono : who benefits at the company.

CPA 52

CPA Tax Start-ups Legal 52

CPA Practice

JUNE 10, 2023

While the FTC Safeguards rule designed to protect financial and PII (personally identifiable information) has been around for decades, as of June 9, 2023, compliance of various components including a Written Information Security Plan, or WISP, became mandatory!

Education 111

Education CPA cpa firm tax return 111

Cherry Bekaert

JUNE 9, 2023

taxpayers that own or control certain foreign corporations, foreign partnerships or foreign trusts are required to disclose the activities, usually with forms attached to a tax return. A recent Tax Court Ruling for Farhy v. Commissioner and International Information Reporting Penalties appeared first on Cherry Bekaert.

tax return 84

tax return Maine Tax Government 84

Withum

JUNE 21, 2023

Foreign Account Tax Compliance Act (“FATCA”) to be a violation of the European Union’s General Data Protection Regulation (“GDPR”). persons’ information with the Internal Revenue Service (“IRS”). Belgium will no long share the tax data required under FATCA with the Internal Revenue Service (“IRS”).

accounting and finance 102

accounting and finance Legal Tax Finance 102

CPA Practice

APRIL 29, 2024

Cytron Filing taxes for your clients doesn’t have to be a drain on your firm’s time, energy, and resources. Wrestling with sky-high tax season burnout and subpar work-life balance. Redundant and draining tasks that eat away at a tax professional’s time and energy. By Scott H. For many, this is “business as usual” at their firm.

Tax 124

Tax tax return Technology bookkeeping 124

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.

CPA 122

CPA Tax Technology cpas 122

CPA Practice

APRIL 16, 2024

Taylor, Kiplinger Consumer News Service (TNS) Retirees are being targeted by scams that not only bring financial devastation but also significant IRS tax bills. Casey believes that theft loss tax deduction limitations have contributed to retirees’ financial challenges. The FBI later informed Larry that he had been a victim of fraud.

Tax 116

Tax Pennsylvania Utah Washington 116

CPA Practice

APRIL 9, 2024

But when it comes to taxes, misleading information on social media can lead to financial or even legal problems, the IRS warns. Social media—things like Facebook, Instagram and TikTok—can be used to circulate “wildly inaccurate tax advice,” the agency said. There are two other variations of the W-2 scheme.

Tax 116

Tax tax return tax preparation payroll 116

Withum

FEBRUARY 15, 2024

Tax loss harvesting is an income tax planning strategy that involves selling investments at a loss with the intent to offset capital gain income. This strategy is beneficial to taxpayers who have large capital gain income and are seeking ways to lower their related income tax liability.

Tax 123

Tax income tax New Jersey CPA 123

CTP

JANUARY 16, 2024

As the new year begins, small business owners are likely focused on coming out of the gate strong, ready to tackle new revenue goals or even prepare for the 2024 tax season. The goal of the Beneficial Ownership Information Report is to foster more transparency, so the U.S. What type of information will businesses have to report?

Tax 52

Tax Government Legal B2C 52

Anders CPA

DECEMBER 12, 2023

As part of the Corporate Transparency Act (CTA), beneficial owners of qualifying companies will be required to begin submitting Beneficial Ownership Information (BOI) Reporting. A key component of the CTA is Beneficial Ownership Information (BOI) Reporting. government. government.

Legal 64

Legal income tax Tax Government 64

CTP

JANUARY 16, 2024

Starting on January 1st, 2024, many small businesses now need to submit a Beneficial Ownership Information Report to the Financial Crimes Enforcement Network (FinCEN). Below is a rundown of other frequently asked questions to help you prepare to submit a Beneficial Ownership Information Report. Tax Identification Numbers.

Tax 52

Tax Legal Account accountant 52

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.

tax return 116

tax return Tax tax preparation Florida 116

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.

Tax 119

Tax Kansas Real Estate Government 119

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. This argument is misplaced.

Tax 120

Tax tax return Legal Manufacturing 120

Ronika Khanna CPA,CA

MAY 3, 2024

Despite your (and/or your accountants’)best efforts , occasional errors or omissions relating to your personal tax return are unavoidable. It is possible that you forgot to include a tax slip, overstated your expenses or was unaware of a specific tax credit. the new home buyer’s credit or the hybrid car tax credit.

tax return 98

tax return Tax income tax tax preparation 98

FraudFiles

MAY 30, 2023

Everyone knows about the typical sources of financial information in divorces. Income tax returns, bank statements and related documents, brokerage statements, credit card statements, and business financial statements are some of the most common. …

income tax 52

income tax tax return financial statements Tax 52

ThomsonReuters

OCTOBER 13, 2022

The IRS uses Forms 1094-C and 1095-C to gather the information necessary to administer employer shared responsibility penalties. Electronic filing with the IRS is required for ALE members who file at least 250 Forms 1095-C for a tax year. The post Must Applicable Large Employers File ACA Information Returns Electronically?

Tax 98

Tax Account accountant accounted 98