CPA Practice

FEBRUARY 11, 2023

The IRS has determined that in the interest of sound tax administration and other factors, taxpayers in many states will not need to report these payments on their 2022 tax returns. During a review, the IRS determined it will not challenge the taxability of payments related to general welfare and disaster relief.

Rhode Island 131

Rhode Island South Carolina income tax Idaho 131

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

CPA Practice

APRIL 19, 2023

By Evan Rosen, New York Daily News (TNS) The White House released President Biden’s tax returns on Tuesday, showing he and the first lady recorded an income of about $580,000 in 2022, just below their total from 2021. The release came Tuesday, the deadline for Americans to file their taxes with the IRS. for the first couple.

income tax 52

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TaxConnex

APRIL 6, 2021

Use tax remittances are paid by the purchaser to Nebraska using one of two returns. Businesses with sales tax permits may use Nebraska and Local Sales and Use Tax Return, Form?10 10 to report use tax. Individuals may report their use tax liability using Nebraska and Local Individual Use Tax Return, Form 3.

West Virginia 130

West Virginia Sales Nebraska Alaska 130

TaxConnex

SEPTEMBER 7, 2023

But as always with sales tax, rules vary state to state. In Virginia , the annual administrative costs of the organization, including salaries and fundraising, must not exceed 40% of its annual gross revenue to qualify for an exemption. Most states, like Michigan , require special registration for exemption.

Sales 147

Sales Tax Non-Profits North Carolina 147

Going Concern

JANUARY 5, 2024

Imagine the dirty looks PwC partners get from the other Big 4 partners at the country club now [link] — Going Concern (@going_concern) January 4, 2024 Office Space Armada Hoffler Finalizes Lease with KPMG LLP at Town Center of Virginia Beach [ Yahoo!

tax return 110

tax return Virginia accounting and finance audit 110

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

TaxConnex

SEPTEMBER 28, 2023

It’s actually free in many states like California , Texas and West Virginia. Should you register for sales tax, seller’s use tax or consumer’s use tax? As a seller, you will likely register for either sales tax or seller’s use tax. When did you start doing business in the state?

Sales 147

Sales Tax West Virginia North Dakota 147

CPA Practice

FEBRUARY 29, 2024

Businesses with income from farming or fishing that have not paid all of their 2023 tax year estimated taxes by Jan. 16 must file their tax returns and pay their entire tax due on or before March 1. Only those taxpayers that have paid their estimated tax payments by Jan.

Rhode Island 52

Rhode Island West Virginia Tax Connecticut 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

TaxConnex

OCTOBER 3, 2023

billion in tax revenue on sales tax holidays that offer breaks on such goods as back-to-school or disaster-preparedness items. Virginia, to name one state, just voted to reinstate their holiday. This year, states reportedly will forgo a combined $1.6 Effective next Jan.

Sales 147

Sales Louisiana Tax Tennessee 147

Nancy McClelland, LLC

APRIL 7, 2023

Attendees will also learn about the taxation of the member/patron, and the Form 1120-C that is used by Subchapter T cooperatives for filing its tax return. Field of Study: Taxes Program Level: Basic CPE Credit: 1.5 This session will be helpful for anyone who wants to know what tax rules are required for a cooperative.

Agriculture 98

Agriculture CPA Virginia Education 98

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

FEBRUARY 23, 2024

Top Remote Accounting Candidates: February 22, 2024 Law & Order Co-Owner of Media Brokerage Firm Sentenced for Filing False Tax Returns [ Department of Justice ] According to court documents and statements made in court, Susan K.

CPA 103

CPA Illinois auditor Iowa 103

TaxConnex

AUGUST 9, 2022

Virginia will exempt network equipment if it’s used for video broadcasting or by phone carriers. Iowa has modified its sales tax base. Changes include combining sales and use tax returns and their permits into one and changing filing frequencies for sales and use tax from quarterly to monthly. Additional updates.

Sales 130

Sales Louisiana Tax Iowa 130

Withum

JUNE 27, 2022

Senate Majority Leader Chuck Schumer and Senator Joe Manchin from West Virginia are leading the discussions because Sen. Manchin’s buy-in will be essential to passage of any tax legislation. They were convicted earlier this month for various crimes including tax evasion, and their sentencing is scheduled for October 6, 2022.

Tax 128

Tax West Virginia Virginia tax return 128

Going Concern

SEPTEMBER 1, 2023

Law & Order Co-Owner of Media Brokerage Firm Pleads Guilty to Filing a False Tax Return [ Department of Justice ] According to court documents and statements made in court, Susan K. Despite receiving the completed and accurate tax returns from the accounting firm, Patrick did not file them with the IRS.

Account 107

Account accountant accounted audit 107

CPA Practice

JULY 19, 2023

A special rule allows gift givers to spread larger one-time gifts across five years’ worth of gift tax returns to preserve their lifetime gift exclusion. CSS Profile schools are mostly private colleges and universities, along with a few “public ivies” like the University of Michigan, William & Mary and the University of Virginia.

Education 98

Education Transportation Michigan Virginia 98

CPA Practice

APRIL 10, 2023

States typically take one of five different approaches to taxing accommodations: A single, statewide tax on accommodations but no additional local taxes (e.g., Connecticut, Maine, New Hampshire) A combined state/local sales tax on accommodations and local jurisdictions can impose an additional local accommodations tax (e.g.,

Tax 85

Tax West Virginia Wisconsin Virginia 85

MyIRSRelief

JUNE 9, 2020

Delinquent return filings: IRS will not default an OIC for those taxpayers who are delinquent in filing their tax return for tax year 2018. Taxpayers may still submit an OIC if they can’t pay their full tax liability, or if doing so would create a financial hardship.

tax return 100

tax return Kansas Colorado New Jersey 100

Anders CPA

SEPTEMBER 28, 2022

Many states don’t require a company to collect tax if all they provide is nontaxable services. How a state may define SaaS could determine if a company is required to file a sales tax return in a particular state, regardless of if SaaS is actually taxable by law within that given state.

Rhode Island 52

Rhode Island West Virginia South Dakota South Carolina 52

Going Concern

SEPTEMBER 22, 2023

People Ken Miller set to retire after more than three decades of service [ Virginia Tech ] After more than 35 years of dedicated service to Virginia Tech, Ken Miller has announced his retirement. Miller was appointed vice president for finance in April 2020 and also serves as the university treasurer.

audit 95

audit accounting and finance Virginia auditor 95

CPA Practice

JUNE 21, 2023

We had significant usage with the source document upload feature.” – Virginia Dennerlein, Director of Operations, Sax LLP. Join SafeSend as we share ways to help your firm get tax ready and solve pain points around client organizers and source document gathering in the tax workflow process.

Tax 80

Tax Technology Indiana Michigan 80

Going Concern

JUNE 9, 2023

Susan stated that McCreath’s work ethic slowed down during the pandemic after being tasked to complete tax returns for clients. He pushed me a couple of times for me to furlough him and we said no as we felt we needed him to get in contact with the clients and do the tax returns.”

audit 94

audit auditor Virginia accounting and finance 94

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

ThomsonReuters

JUNE 22, 2021

Beginning July 1, new forms will be used to report withholding tax. Form TRD-41414, Wage Withholding Tax Return, will be used to report withholding from payments to employees. Form TRD-41409, Non-Wage Withholding Tax Return, will be used to report withholding from non-wage payments. West Virginia.

payroll 72

payroll Virginia Utah West Virginia 72

RitaKeller

APRIL 11, 2022

I thought a great reply was provided by my friend, Donna Marlarkey , Firm Administrator for KWC in Alexandria, Virginia. billing, electronic tax return assembly or organizing scanned materials), we do not have heartburn if they do some of that work from home.

Virginia 49

Virginia tax return Tax 49

CPA Practice

JULY 11, 2023

Ryan received both his Bachelor’s and Master’s degrees from West Virginia University. Morris has over 10 years of public accounting experience in various areas of tax compliance and consulting. Additionally, he frequently presents during internal firm training seminars and writes articles for the firm’s website.

Real Estate 52

Real Estate West Virginia Construction Manufacturing 52

Going Concern

AUGUST 19, 2022

NoVa accounting firm absorbs second Richmond peer in 5 years [ Richmond BizSense ] Driven in part by a tight market for talent and a partner’s retirement, a Richmond accounting firm has merged into a larger competitor from Northern Virginia. Kimble CPAs, a 14-person firm in the West End, last month became part of Alexandria-based KWC.

audit 82

audit auditor accounting firms accounting and finance 82

CPA Practice

JANUARY 12, 2024

But one of the one of the major things I think that needs to be said about it is that the major the major AI initiative that TR is chasing is the is incorporating sure preps document and information ingesting process on the front end of a tax return. And so they’re trying to use automation technology. Randy Johnston 11:39 Yeah.

Technology 40

Technology Account accountant accounted 40

CPA Practice

AUGUST 17, 2023

One of the ways I’ve found that I like to use ChatGPT is to research something I don’t know,” said Shayna Chapman, CPA, founder of the West Virginia accounting firm ShaynaCo LLC. I’m mostly tax, bookkeeping and accounting, and don’t do much A&A work. For instance, when a client emails asking for a tax return or financial statement.

accounting firms 98

accounting firms Account accountant accounted 98

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

MARCH 8, 2021

Alabama taxpayers residing in areas designated as disaster areas by the federal government have until June 15, 2021, to file tax returns due on or after February 11, 2021, and before June 15, 2021. Affected taxpayers filing for tax types that include withholding tax may submit a penalty waiver request using Form PWR.

payroll 52

payroll Connecticut Alabama Virginia 52

PYMNTS

NOVEMBER 16, 2018

This means customers pay in cash, their employees are paid in cash, and their taxes are paid in cash. Or, if reports are correct, the IRS has actually outsourced that process to a Virginia company for $1.7 Hence the IRS and its five tons of cash to process.

Legal 70

Legal Alabama Colorado Virginia 70

ThomsonReuters

AUGUST 2, 2021

The IRS has posted a draft version of Form 941-X , Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund, that takes into account the COVID-19 tax credits and the new credit for COBRA premium assistance payments from the American Rescue Plan Act (ARPA). IRS posts Form 941-X draft.

payroll 52

payroll North Carolina New Hampshire Oregon 52

ThomsonReuters

MARCH 1, 2021

The IRS has updated the draft instructions for Form 941, Employer’s Quarterly Federal Tax Return, that accompanies the draft Form 941 posted on January 29, 2021. The District of Columbia and Virginia have recently announced that their unemployment tax rates will increase for tax year 2021.

payroll 98

payroll Tax Virginia Texas 98