TaxConnex

OCTOBER 3, 2023

There’s always something changing in the world of tax, especially sales tax. 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. Sales taxes were $25.4 billion, up 8.4%

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Sales Louisiana Tax Tennessee 147

Cherry Bekaert

OCTOBER 10, 2023

Iowa On September 29, 2023, the Iowa Department of Revenue announced that the 2022 Pass-Through Entity (PTE) Tax election and 2022 PTE Tax Form are available through GovConnectIowa. The Iowa Department of Revenue strongly recommends that a pass-through entity logs into the GovConnectIowa account to complete its 2022 PTE Tax form.

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Iowa North Carolina Virginia Tax 104

CPA Practice

APRIL 12, 2023

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. People face a July 17 deadline to file their returns.

Rhode Island 122

Rhode Island tax return Tax West Virginia 122

CPA Practice

MARCH 21, 2024

Property tax compliance can be just as puzzling, and getting it right in some states can be more complex than in others. This blog post sheds light on what makes personal property tax compliance in certain states particularly tricky. This helps explain why many companies find property tax compliance time-consuming.

Rhode Island 120

Rhode Island Tax Arizona South Carolina 120

CPA Practice

DECEMBER 7, 2023

Jack Lee Oliver, owner and operator of the Insurance Depot on Fairmont Avenue, used a foster child he never met to inflate his tax refund, according to court documents from the U.S. Those charges were only three of 32 separate charges related to tax fraud, according to a grand jury indictment filed in the U.S. Justice Department.

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TaxConnex

APRIL 6, 2021

There’s always something changing in the world of tax, especially sales tax. The Alaska Remote Seller Sales Tax Commission has approved its “Remote Seller Sales Tax Code & Common Definitions” that would apply to local municipalities in Alaska that choose to adopt it. 10 to report use tax.

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Withum

JUNE 27, 2022

There is a lot going on regarding taxes these days. 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. Manchin is requiring that half of any new tax revenue be used for deficit reduction.

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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

income tax Tax Virginia Delaware 52

TaxConnex

AUGUST 9, 2022

There’s always something changing in the world of tax, especially sales tax. State sales tax holidays fail to live up to the hype. in favor of conveniently popular yet ultimately ineffective sales tax holidays.”. Several states tinkered with their sales tax exemptions this summer. Holiday hucksterism? Free for all.

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Sales Louisiana Tax Iowa 130

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. See Topic no.

Rhode Island 52

Rhode Island West Virginia Tax Connecticut 52

CPA Practice

JANUARY 3, 2024

Taylor, Kiplinger Consumer News Service (TNS) As we venture into the new year, 2024 brings a wave of changes in state taxes across the country. From gas taxes to property tax amendments and income tax cuts, being aware of these changes is crucial since state and local taxes are among the highest taxes most people pay.

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CPA Practice

FEBRUARY 11, 2023

After several days of requests by taxpayers, state agencies and the National Taxpayer Advocate , the Internal Revenue Service has provided clarifying the federal tax status involving special payments made by 21 states in 2022. Alaska is in this group as well, but please see below for more nuanced information.

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CPA Practice

APRIL 10, 2023

Still, whatever discomfort I experience when booking a room has nothing on what lodging platforms have to endure to comply with the multitude of lodging tax requirements in the United States. We talk a lot about how complicated sales tax compliance is at the Avalara Tax Desk, and it is. Sometimes you just have to go with it.

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MyIRSRelief

JULY 3, 2023

Contact us for professional tax help today! During an ERC audit, the IRS reviews the business’s records, including payroll records, tax returns, and supporting documentation related to ERC claims. What Skills Should I Look for in a Tax Professional for ERC Audit Representation? Understanding ERC IRS Audits 1.1

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audit North Carolina Oklahoma Ohio 130

Going Concern

JANUARY 5, 2024

Big 4 Big Four Reshape Consulting Workforce, Strategy With Rare Layoffs [ Bloomberg Tax ] The Big Four accounting firms have leaned into their tech advisory work and data analytics services—areas ripe for revenue growth—as interest rates and the artificial intelligence boom reshaped demand for consulting services. Happy trails, Tom!

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tax return Virginia accounting and finance audit 104

CPA Practice

JUNE 21, 2023

Join SafeSend, as they share the journey of solving pain points experienced on the front-end of the tax process and define a new way to get your firm and clients tax ready! We had significant usage with the source document upload feature.” – Virginia Dennerlein, Director of Operations, Sax LLP. Click here to log in.

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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. Under the law, taxpayers usually have three years to file and claim their tax refunds.

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. Under the law, taxpayers usually have three years to file and claim their tax refunds.

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

Nancy McClelland, LLC

APRIL 7, 2023

What better way to relax after Tax Day than by watching a webinar on an unfamiliar area of taxation, right? To operate on a cooperative basis for tax purposes, a company must meet specific tax rules in Subchapter T of the Internal Revenue Code. Field of Study: Taxes Program Level: Basic CPE Credit: 1.5

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Agriculture Virginia CPA Education 98

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. From 2012 to April 2018, according to the criminal information document signed by U.S.

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CPA Practice

JULY 19, 2023

A 529 is a tax-advantaged account into which parents – and anyone, really – can deposit money in anticipation of one day paying college expenses. Contributions are not federally tax-deductible, but many states do offer a state tax deduction. You can’t double-dip by getting the tax credit while paying with 529 money.

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Education Transportation Michigan Virginia 98

MyIRSRelief

JUNE 9, 2020

IRS has the authority to compromise a taxpayer’s tax liability. An OIC is an agreement between the taxpayer and IRS that compromises a taxpayer’s tax debt for less than the full amount owed. Delinquent return filings: IRS will not default an OIC for those taxpayers who are delinquent in filing their tax return for tax year 2018.

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tax return Kansas Colorado New Jersey 100

Going Concern

SEPTEMBER 1, 2023

The professional and business service sector added 19,000 jobs, including 2,700 in accounting, tax preparation, bookkeeping and payroll services. 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.

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Account accountant accounted audit 100

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. In addition to his new role, he will continue to serve as co-director of the firm’s DC-Metro tax practice.

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audit accounting and finance Virginia auditor 86

Anders CPA

SEPTEMBER 28, 2022

Even if a state doesn’t require sales tax on SaaS, the company may still need to file if they pass a certain threshold of sales. State Tax Considerations for SaaS Companies. For tax purposes, the definition of SaaS may differ from state to state. Does My State Tax SaaS? Those states that clearly tax SaaS are listed below.

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Rhode Island West Virginia South Dakota South Carolina 52

Going Concern

JUNE 9, 2023

And as the horror show surrounding the firm’s misuse of confidential tax data refuses to go away, the team will now have to manage without its leader. Shockingly, the PwC global chairman would have – or at least should have – known about the tax leak scandal in Australia at the time of that interview – even if the public didn’t.

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audit auditor Virginia accounting and finance 86

ThomsonReuters

JUNE 14, 2021

The guidance is aimed at helping multi-state employers determine to which state wages should be reported and unemployment taxes paid. Being familiar with the DOL’s “localization of work” provisions may be helpful to employers that want to make sure wages are reported and unemployment taxes are paid to the correct state.

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payroll Missouri Virginia Delaware 98

ThomsonReuters

JUNE 22, 2021

But before we give you a state-by-state rundown on the more mundane upcoming changes, here’s one federal reminder that beginning July 1, 2021, the Employee Retention Credit is claimed against only the employer share of Medicare tax. State by State Payroll Tax Changes. Beginning July 1, new forms will be used to report withholding tax.

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payroll Virginia Utah West Virginia 72

CPA Practice

JULY 11, 2023

The new promotions touch the firm’s offices in both Pittsburgh and Columbus, and they reach across several areas of the firm’s service offerings, including the firm’s Tax, Audit and Consulting practices, as well as the Merger and Acquisitions/Transaction Advisory practice. Brett is a graduate of Youngstown State University.

Real Estate 52

Real Estate West Virginia Construction Manufacturing 52

ThomsonReuters

MARCH 1, 2021

Also, certain Forms 1099 must be filed by March 1, 2021 – except new tax year 2020 Form 1099-NEC for nonemployee compensation, which had a due date of February 1, 2021 (typically January 31, but it fell on a weekend). Unemployment tax rates increasing in 2021. Unemployment tax relief. IRS forms and publications. 2021, H65].

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payroll Tax Virginia Texas 98

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

ThomsonReuters

MARCH 8, 2021

The Senate version continues to include the extension of the paid sick and family leave and employee retention tax credit extensions. Unemployment tax rate rollback. Hawaii Governor Ige signed legislation into law that will roll back the amount of unemployment tax employers in the state will pay in 2021. State and Local News.

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payroll Connecticut Alabama Virginia 52

ThomsonReuters

AUGUST 2, 2021

The IRS has updated its lengthy list of FAQs on paid sick and family leave tax credits under the American Rescue Plan Act (ARPA) relating to COVID-19 vaccines. Form 941 has been revised several times since the start of the pandemic due to COVID-19 tax credits available to employers. Federal News . Learn more.

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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. That’s the CEO about the allocation of AI to tax and accounting.

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Technology Account accountant accounted 40

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.

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audit auditor accounting firms accounting and finance 75

PYMNTS

NOVEMBER 16, 2018

states (and the District of Columbia) where marijuana has been legalized for sale in some capacity, it has thrown off a fairly large chunk of tax revenue in the last year. billion in taxes from legal cannabis companies last year, an amount of money that is undoubtedly a sizzle for the federal coffers.

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CPA Practice

AUGUST 17, 2023

Summarizing the survey data he’s seen regarding the current and pending state of generative AI adoption, Oliver noted that 50% of executives stated they are currently using AI in their finance and tax departments already, and 29% say they have plans to do so in the next year. So it was a very manual process to keep tax databases up to date.

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accounting firms Account accountant accounted 98