TaxConnex

MARCH 24, 2022

implementing sales and use tax collection requirements for marketplace sellers and facilitators who don’t have a physical presence in the state. Missouri, whose economic laws have been approved but not yet put into effect, also has no marketplace facilitator laws until January 1, 2023. returns for direct sales and indirect sales.

South Dakota 174

South Dakota Nevada Missouri Minnesota 174

Anders CPA

FEBRUARY 14, 2023

The Missouri research and development (R&D) tax credit was reinstated as of January 1, 2023, clearing the way for more tax savings for businesses that engage in qualified research. The credit can be applied to tax years beginning on or after January 1, 2023. What Doesn’t Qualify for Missouri R&D Tax Credit?

Missouri 52

Missouri Tax income tax CPA 52

CPA Practice

APRIL 14, 2023

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. People face a July 17 deadline to file their returns. million people across the U.S.

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

CPA Practice

APRIL 13, 2023

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. People face a July 17 deadline to file their returns. million people across the U.S.

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

Cherry Bekaert

JANUARY 22, 2024

Newly proposed legislation, the Tax Relief for American Families and Workers Act of 2024 (the Act) , could potentially move the deadline for the Employee Retention Credit (ERC) claim submissions to the end of January 2024. tax returns for the 2022 tax year.

Tax 52

Tax tax return Missouri Oregon 52

MyIRSRelief

JULY 3, 2023

During an ERC audit, the IRS reviews the business’s records, including payroll records, tax returns, and supporting documentation related to ERC claims. Certain factors, such as high claim amounts or inconsistencies in reported data, may trigger an audit. ERC IRS Audit Process 2.1 What Happens During an ERC Audit?

audit 130

audit North Carolina Oklahoma Ohio 130

Going Concern

AUGUST 28, 2023

Louis, Missouri-based branch of Deloitte, was awarded the T.E. Then he answered, “ We’re understaffed and we had a lot of income tax returns last year.” My return, by the way, was sent electronically on April 3, the same day my cpa firm sent my federal income tax return in electronically.

accounting firms 52

accounting firms CPA Account accountant 52

Anders CPA

JANUARY 23, 2023

Jane is a Certified Public Accountant in the state of Missouri and holds an M.S. Jane is a member of both the Missouri Society of Certified Public Accountants (MOCPA) and the American Institute of Certified Public Accountants (AICPA). A Certified Public Accountant in the state of Missouri, Stephanie holds a B.S.

Missouri 19

Missouri Real Estate Illinois public accounting 19

inDinero Tax Tips

APRIL 26, 2023

S-corps can save on taxes because their taxable income is taxed only once. The owners of an S corp report income or losses on their personal tax returns, which are taxed at individual tax rates, not corporate rates. Be sure to consult this chart to determine the correct destination for your submission.

Tax 52

Tax Utah Kansas Missouri 52

inDinero Tax Tips

APRIL 11, 2023

The Delaware franchise tax A franchise tax is a state charge on corporations to conduct business in their state. Other states that have a franchise tax include Alabama, Arkansas, Delaware, Georgia, Illinois, Louisiana, Missouri, New York, North Carolina, and Oklahoma.

Delaware 52

Delaware Nevada Tax Sales 52

TaxConnex

OCTOBER 5, 2023

Wayfair opened the way for all states with a statewide sales tax to now have economic nexus thresholds set by dollar amount or volume of sales. And you have to refund the state or local sales tax that you charged on the purchase, and that requires you to verify many details: How much did you charge the customer in sales tax?

Sales 147

Sales Tax Missouri auditor 147

Anders CPA

JANUARY 1, 2024

In 2024, there are several updates to various payroll tax withholding limits, including Social Security tax and 401(k) elective deferrals. For employees, minimum wage is increasing in Missouri and Illinois. Social Security Tax Withholding For 2024, the Social Security tax wage base for employees will increase to $168,600.

payroll tax 52

payroll tax payroll Tax Missouri 52

CPA Practice

MARCH 21, 2024

This blog post sheds light on what makes personal property tax compliance in certain states particularly tricky. The personal property tax forms and procedures conundrum Filing property tax returns is the first hurdle your company must overcome if you do business in any of the 37 states that tax tangible personal property.

Rhode Island 119

Rhode Island Tax Arizona South Carolina 119

Withum

NOVEMBER 17, 2022

Resident Clients: Resident partners/shareholders participating in a PTET (elective or mandatory) may not receive a credit for taxes paid to another state on their resident state income tax return. Dual Estimate Payment Requirements: In some states, a pass-through entity needs to make estimated payments against the PTET.

tax planning 52

tax planning Tax income tax CPA 52

ThomsonReuters

JUNE 14, 2021

The IRS has posted a June 2021 draft version of the Form 941 , Employer’s Quarterly Federal Tax Return, instructions that take into account the amended and expanded coronavirus (COVID-19) pandemic tax credits and the new COBRA premium assistance credit from the American Rescue Plan Act (ARPA). Federal News.

payroll 98

payroll Missouri Virginia Delaware 98

ThomsonReuters

OCTOBER 19, 2022

In this edition, we take a look at the recently enacted corporate alternative (book) minimum tax; new elections to convert credits to cash or tax payments; changes to the electric vehicle credit; recent legislation in Kansas, Kentucky, and Missouri; and state taxation of forgiven student loans. Not yet a subscriber?

income tax 64

income tax Kansas Kentucky Tax 64

CPA Practice

JANUARY 3, 2024

Child tax credit for 2024 Additionally, several states have increased child and dependent tax credits for 2024. Colorado’s expanded child tax credit of up to $1,200 per child is effective for 2024 (tax returns normally filed in early 2025). Massachusetts now has one of the highest child tax credits in the U.S.

Tax 128

Tax Kansas income tax Montana 128

TaxConnex

FEBRUARY 9, 2023

In the case of a physical presence, these local taxes that are collected will need to be filed on directly with the local jurisdictions on their own sales tax return.

Sales 130

Sales Louisiana Alabama Tax 130

CPA Practice

MAY 1, 2024

State cannabis tax However, some states have taken steps to alleviate this burden by decoupling from 280E. This means cannabis businesses operating in certain states can deduct certain business expenses on state tax returns.

Tax 111

Tax Missouri Oregon Connecticut 111

inDinero Tax Tips

APRIL 20, 2021

The Delaware franchise tax. A franchise tax is a charge by states on corporations to conduct business in their state. Currently, Alabama, Arkansas, Delaware, Georgia, Illinois, Louisiana, Missouri, New York, North Carolina, and Oklahoma have a franchise tax.

Delaware 64

Delaware Wyoming Nevada Oregon 64

TaxConnex

MARCH 2, 2021

In one of the biggest developments, the two remaining states with a sales tax that don’t require online (or otherwise remote) businesses to collect and remit tax – Florida and Missouri – may be inching toward instituting post- Wayfair nexus requirements and sales tax obligations. in 2020 but it failed.

Sales 230

Sales Tax Missouri Wisconsin 230

CPA Practice

MAY 19, 2023

This goes after hairdressers and your neighbor’s kid, not billionaires, and will create a digital trail for IRS agents to monitor more Americans regardless of whether these individuals actually owe any taxes on the payments they received,” said a statement from its chairman, Jason Smith of Missouri.

Tax 98

Tax Louisiana Missouri Ohio 98

ThomsonReuters

FEBRUARY 12, 2021

The 2021 final version of Publication 15 is pretty similar to the draft version issued in December of 2020 and notes some items of importance like Certified Professional Employer Organizations (CPEOs) must e-file Forms 941 , Employer’s Quarterly Federal Tax Return , beginning in 2021 (except for the first quarter the CPEO was certified).

payroll 95

payroll income tax California Hawaii 95