TaxConnex

MAY 11, 2021

Both the process of reporting sales tax and the level of sales tax detail required varies from state to state. Some reporting requirements that should be considered in your sales tax compliance process are: 1. Returns are typically due either monthly, quarterly, or annually. Know your Deadlines. Due dates also vary.

Sales 162

Sales Tax Colorado tax return 162

CPA Practice

OCTOBER 1, 2024

The IRS on Tuesday announced disaster tax relief for all individuals and businesses affected by Hurricane Helene, including the entire states of Alabama, Georgia, North Carolina, and South Carolina, as well as parts of Florida, Tennessee, and Virginia. 22, 2024, in Alabama; Sept. 22, 2024, in Alabama; Sept.

South Carolina 130

South Carolina North Carolina Tax Alabama 130

TaxConnex

FEBRUARY 9, 2023

States aren’t the only ones who can complicate your life with sales tax: Local governments want to play their part, too. Cities, counties and towns nationwide – which have almost all seen an increase in their sales tax revenues in recent years – constantly tinker with their own sales taxes.

Sales 130

Sales Louisiana Alabama Tax 130

TaxConnex

SEPTEMBER 28, 2023

Now it’s time to register with the states to collect and remit sales tax. You complete your sales tax registrations and file them with the departments of revenue or taxation in each state. These registrations are called sales tax permits, sometimes licenses. New York calls theirs a “sales tax certificate of authority.”

Sales 147

Sales Tax West Virginia North Dakota 147

CPA Practice

FEBRUARY 28, 2023

Disaster-area taxpayers in most of California and parts of Alabama and Georgia now have until Oct. 16 to file various federal individual and business tax returns and make tax payments, the IRS said on Feb. 16 to file their 2022 return and pay any tax due. 16 to file their 2022 return and pay any tax due.

Tax 128

Tax Alabama Georgia tax return 128

CPA Practice

OCTOBER 8, 2024

In response to Hurricane Helene’s recent devastation and Hurricane Milton’s impending landfall, Wolters Kluwer Tax & Accounting is highlighting tax relief opportunities available to those affected by natural disasters in 2024. They can choose to claim these losses in the year they were incurred (i.e.,

South Carolina 116

South Carolina North Carolina Tax tax return 116

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. The other prevalent argument is that sales tax holidays are a way of giving tax relief. “The

Sales 147

Sales Louisiana Tax Tennessee 147

CPA Practice

NOVEMBER 19, 2024

In the past, taxpayers have often relied on the “Cohan rule” from an age-old case to bail them out of a tax jam. When taxpayers who don’t possess sufficient records are pushed to the brink, they may pull this tax-saver out of their back pocket. The returns were prepared by a professional. Thus, the Cohan rule was born.

Tax 105

Tax Alabama tax return Construction 105

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

Dent Moses

FEBRUARY 24, 2022

Yesterday, Alabama House Bill 231 and Alabama Senate Bill 152 were forwarded to Governor Kay Ivey for signature. This legislation, when signed, will effectively exempt from state income taxes certain federal benefits that taxpayers received from the American Rescue Plan Act last year, a coronavirus relief bill passed by Congress.

Alabama 52

Alabama income tax Tax tax return 52

Cherry Bekaert

AUGUST 10, 2023

Pass-through entity taxes (PTET) are constantly changing on a state-by-state basis. How Alabama’s PTET Works Alabama’s PTET election is made by submitting Form PTE-E via “My Alabama Taxes” on or before the 15 th day of the third month following the close of the tax year. Louisiana Louisiana House Bill No.

Alabama 98

Alabama Ohio Iowa Louisiana 98

Dent Moses

FEBRUARY 22, 2024

Alabama House Bill 391 reduced the minimum state business privilege tax in 2023 from $100 to $50. Changes in the income and net worth of the entity may result in an assessment in excess of the minimum tax. for each $1,000 of net worth in Alabama. So, no return is required. The rates range from $.25 25 to $1.75

Alabama 52

Alabama Tax tax return Account 52

CPA Practice

OCTOBER 12, 2023

Retail sales of guns and ammunition will soon be subject to a new state excise tax in California. Under Assembly Bill 28, which Governor Gavin Newsom signed into law on September 26, 2023, an 11% tax will apply to gross receipts from retail sales of ammunition, firearms, and firearm precursor parts starting July 1, 2024.

California 124

California Sales Tax Pennsylvania 124

CPA Practice

FEBRUARY 27, 2023

Disaster-area taxpayers in most of California and parts of Alabama and Georgia now have until Oct. 16 to file various federal individual and business tax returns and make tax payments, the IRS said on Feb. 16 to file their 2022 return and pay any tax due. 16 to file their 2022 return and pay any tax due.

Tax 95

Tax Alabama Georgia tax return 95

CPA Practice

JUNE 29, 2023

Taylor, Kiplinger Consumer News Service (TNS) The IRS, after confusing millions of California taxpayers with tax balance-due notices in May and June, will send follow-up letters to people in states that received extra time to file their federal income tax returns due to severe weather events. 16, 2023 to file. 16, 2023 to file.

income tax 111

income tax Mississippi tax return Arkansas 111

Dent Moses

AUGUST 31, 2023

The county utilizes a mass appraisal process set forth by the Alabama Department of Revenue. How Property Taxes Calculated Assessing the property value: The first step is to determine the assessed value of the property. Tax rate: Once the assessed value is determined, the property tax rate is applied.

Alabama 40

Alabama Tax income tax tax return 40

CPA Practice

OCTOBER 10, 2024

CPA Practice Advisor wants to highlight those in the accounting and tax communities who have begun or are in the process of mobilizing efforts to help those impacted by Hurricane Helene. FICPA will be hosting a second webinar with Schreiber on disaster tax matters at 10 a.m. [Updated on Oct. 10; originally posted on Oct.

North Carolina 116

North Carolina South Carolina Tennessee Georgia 116

Dent Moses

OCTOBER 22, 2024

The Alabama Accountability Act was effective in 2013 and established a dollar-for-dollar income tax credit for contributions paid to Scholarship Granting Organizations (“SGO”). Individual and corporate taxpayers in Alabama can still benefit from this program in 2024.

Alabama 40

Alabama Tax income tax tax return 40

PYMNTS

APRIL 12, 2017

Identity company MorphoTrust USA looks to put a dent in tax fraud and theft by adding an additional layer of authentication security into the mix. The company recently announced a partnership with the Alabama Department of Revenue (ADR). Magee, commissioner of the ADR.

Alabama 40

Alabama Tax Florida tax preparation 40

Withum

OCTOBER 3, 2024

The IRS issued a news release providing tax relief for taxpayers affected by Hurricane Helene. This includes the entire states of Alabama, Georgia, North Carolina, and South Carolina, 41 counties in Florida, eight counties in Tennessee, and six counties and one city in Virginia. What does the filing and payment relief apply to?

South Carolina 130

South Carolina North Carolina tax preparation income tax 130

Cherry Bekaert

OCTOBER 28, 2024

Understanding the available tax relief options is crucial. IRS Disaster Relief The Internal Revenue Service (IRS) offers comprehensive tax relief to those affected by Hurricane Helene and Hurricane Milton across several states. Alabama : The Alabama Department of Revenue provides relief information here.

South Carolina 52

South Carolina North Carolina Tax Alabama 52

CPA Practice

APRIL 24, 2023

Now is an excellent time to review how your clients’ legal structure affects their business and personal taxes. Let’s look at the types of entities, how taxes are filed, and when clients should consider changing their entities. The LLC owners (called members) also report business profits and losses on their individual income taxes.

Legal 98

Legal income tax tax return Mississippi 98

CPA Practice

NOVEMBER 20, 2024

In the past, taxpayers have often relied on the “Cohan rule” from an age-old case to bail them out of a tax jam. When taxpayers who don’t possess sufficient records are pushed to the brink, they may pull this tax-saver out of their back pocket. The returns were prepared by a professional. Thus, the Cohan rule was born.

Tax 52

Tax Alabama tax return Construction 52

CPA Practice

OCTOBER 18, 2023

With sales tax compliance, it’s the latter. The fact is, not all states are equal when it comes to sales tax filing and remittance. For a variety of reasons, sales tax compliance in certain states takes more time and causes more headaches than sales tax compliance in others. There’s no one reason why this is so.

Sales 59

Sales South Dakota Tax Missouri 59

Dent Moses

APRIL 22, 2024

If you are still writing checks to make tax payments, there is a much better (and safer) alternative. Both the IRS and the State of Alabama have excellent platforms for making payments electronically via bank draft. A process to verify your identity requires access to a previous tax return.

Alabama 40

Alabama Tax tax return accounted 40

PYMNTS

MARCH 26, 2016

A loan company employee has pleaded guilty to stealing identities of several customers and fraudulently seeking $400,000 in tax returns. The government alleges that the two co-conspirators worked together to get away with the tax returns.

Alabama 56

Alabama tax return Tax Government 56

ThomsonReuters

JULY 7, 2021

Federal Employment Taxes. The United States first imposed a federal income tax briefly during the American Civil War and also in the 1890s. Constitution in 1913 that permanently legalized a federal income tax. Next, in 1939, the Federal Unemployment Tax Act (FUTA) was passed, which resulted in an employer tax (typically, 0.6%

payroll 59

payroll Tax income tax payroll tax 59

ThomsonReuters

APRIL 9, 2021

Employers were reimbursed with a payroll tax credit or a refund if the cost exceeded their tax liability. Credits were claimed through Form 941, the quarterly employment tax return. The credit will be against the employer’s share of Medicare tax. in February. What’s on the horizon?

Hawaii 98

Hawaii South Dakota payroll tax payroll 98

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

Dent Moses

APRIL 11, 2023

State of Alabama A business license is required for basically everyone engaged in business within the state. The Alabama Department of Revenue does not administer municipal licenses. The state and county licenses are issued by the county Probate Judge or License Commissioner in the county where the business is located.

Alabama 52

Alabama tax return Legal Start-ups 52

CPA Practice

OCTOBER 7, 2024

CPA Practice Advisor wants to highlight those in the accounting and tax communities who have begun or are in the process of mobilizing efforts to help those impacted by Hurricane Helene. FICPA will be hosting a second webinar with Schreiber on disaster tax matters at 10 a.m. The webinar is available on demand and can be accessed here.

North Carolina 52

North Carolina South Carolina Tennessee Georgia 52

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.

Legal 70

Legal Alabama Colorado Virginia 70

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.

payroll 72

payroll Virginia Utah West Virginia 72

inDinero Accounting

DECEMBER 5, 2023

The Qualified Small Business Exemption (QSBS exemption) can shield up to $10 million, and sometimes more, of stock appreciation from capital gains tax. The rules are complex but worth understanding; there are substantial tax savings to be had by claiming this rare exemption. Table of Contents What is the QSBS Exemption?

tax return 52

tax return Mississippi Wisconsin Alabama 52

inDinero Tax Tips

APRIL 11, 2023

Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business. Delaware is considered “the place” to establish your corporate entity as there’s no Delaware sales tax. Delaware is considered “the place” to establish your corporate entity as there’s no Delaware sales tax.

Delaware 52

Delaware Nevada Sales Tax 52

CPA Practice

OCTOBER 15, 2024

Top Technology Initiative Article – October 2024 Well, that’s a wrap on another tax season. This year was one of the most normal tax years in some time. The IRS granted tax relief for MI storms , tornados in OH , hurricanes Beryl in TX , and Debby in NC. Otherwise, tax deadlines were normal in most places. And wait again!

South Carolina 52

South Carolina North Carolina Florida tax return 52