article thumbnail

Sales tax and Marketplaces: Who owns the responsibility?

TaxConnex

jurisdictions also involves dealing with sales tax. Responsibility to pay sales tax is based on a variety of factors, such as where the seller and buyer reside and the nature of the product being sold (some items qualify for sales tax exemptions ). On a marketplace platform, who has responsibility for the sales tax?

Sales 215
article thumbnail

The Benefits of Delayed Business Filings

CPA Practice

A delay allows business owners to specify a future effective date on their registration forms, granting them control over when their company officially becomes a legal entity. In a delayed filing, the business controls when the company officially becomes a legal entity. Let’s look at both options.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

$1.5 Billion in Unclaimed Tax Refunds from 2019 Set to Expire in July 2023, Says IRS

CPA Practice

million people across the nation (state-by-state list below) have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return. billion in refunds remain unclaimed because people haven’t filed their 2019 tax returns yet. 27, 2023, providing legal guidance on claims made by the postponed deadline.

article thumbnail

$1.5 Billion in Refunds From 2019 Remain Unclaimed, IRS Says

CPA Practice

have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return, the IRS said on Wednesday. billion in refunds remain unclaimed because people have not filed their 2019 tax returns yet. Under the law, taxpayers usually have three years to file and claim their tax refunds.

article thumbnail

$1.5 Billion in Refunds From 2019 Remain Unclaimed, IRS Says

CPA Practice

have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return, the IRS said on Wednesday. billion in refunds remain unclaimed because people have not filed their 2019 tax returns yet. Under the law, taxpayers usually have three years to file and claim their tax refunds.

article thumbnail

A Certain Big 4 Firm Gets Another Chance to Screw Up a State’s Unemployment Benefits System

Going Concern

Those falsely accused of fraud were subjected to quadruple penalties and collections techniques such as wage garnishment and seizure of income tax refunds. Related articles: Rhode Island Believes In Second Chances, Even for Deloitte. Rhode Island Is Still Holding a Grudge Against Deloitte. Lots of luck, Michigan.

article thumbnail

LLC Costs: How Much Does it Really Cost to Start an LLC in 2021?

LyfeAccounting

But before anything else, let me mention that by no means are we giving you legal or financial advice as this post is for informational purposes only. It is NOT legally required that a lawyer prepare this for you. And depending on the state, you may also have to pay state franchise taxes. Statement of purpose.