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Elliott Davis takes PE investment

Accounting Today

Elliott Davis is based in Greenville, South Carolina, with over 800 employees, 60 partners and eight offices. served as its legal counsel. William Blair & Company, LLC advised Flexpoint Ford, and Simpson Thacher & Bartlett LLP and Hunton Andrews Kurth LLP served as its legal counsel.

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Friday Footnotes: Is AI Actually Improving Audits?; Activists Try to Save Direct File | 7.18.25

Going Concern

[ Raconteur ] “Without clear metrics, it is difficult to know the extent to which AI is improving the quality of audits, increasing efficiency or just adding complexity,” says Akber Datoo, chief executive of D2 Legal Technology, a data and governance consultancy that works with financial institutions.

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Friday Footnotes: IRS Commish Quits Before Trump Takes Office; International Firm Culture Rules; The PCAOB’s Latest L | 1.17.25

Going Concern

already overbudget [ The Nerve (South Carolina)] In a 65-page report released late this afternoon, AlixPartners, a New York-based global consulting firm, determined that about $1.6 billion [missing from South Carolina state funds] “did not represent real cash.” Cost of investigating mystery $1.8B

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What’s new in sales tax?

TaxConnex

The Court of Appeals of South Carolina has affirmed a state Administrative Law Court (ALC) finding that the online retail giant remains liable for eight figures in unpaid sales tax on third-party sales from 2016, interest and penalties. Here’s a review of some of the recent changes and updates. Amazon still liable.

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Monthly Review of What's New in Sales & Use Tax

TaxConnex

South Carolina sales tax collections are 10% greater than predicted this budget year. Other Updates: Arkansas: The Revenue Legal Counsel division of the Arkansas Department of Finance and Administration has published a? Online sales skyrocketed in 2020 – a trend only expected to continue. Stay tuned.

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Sales tax and Marketplaces: Who owns the responsibility?

TaxConnex

(Marketplace facilitators can also be called on the carpet just like individual remote sellers can if they fail in sales tax obligations, as happened recently to Amazon in South Carolina.) Note that a facilitator such as Amazon might also have warehouses in many states to store the inventory of its sellers.

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Exemption Certificate Expirations

TaxConnex

Otherwise, you the seller have legal responsibility to assess and collect the sales tax from the purchaser and can be penalized later if you don’t. Your buyer produces a valid exemption certificate that you keep on file. It pays to know all you need to know about an exemption certificate.