MyIRSRelief

NOVEMBER 1, 2024

The main advantage of an S Corporation is that it allows income, losses, deductions, and credits to pass through to shareholders for federal tax purposes. This means that the business itself is not taxed at the corporate level. This means that the corporation’s income is not subject to corporate tax rates.

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TaxConnex

FEBRUARY 13, 2025

Sales tax debates One of the largest Native American nations is The Navajo Nation, which in recent years has undergone some changes in sales tax. The Navajo Nation has a sales tax of 6% for all retail sales within The Navajo Nation. Quarterly sales tax returns are due 45 days after the end of each calendar quarter.

Sales 213

Sales Tax Wisconsin Oklahoma 213

TaxConnex

SEPTEMBER 12, 2023

As an outsourced sales tax department for businesses with a sales tax obligation, TaxConnex removes the burden of sales and use tax returns filing by completely managing it for their clients.

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tax return Sales Tax tax consultant 147

CPA Practice

OCTOBER 28, 2024

The process can be legally and financially complicated, so it’s important to research the requirements and obtain all the pertinent information ahead of time. File a Final Tax Return When dissolving a business, one of the key steps is filing the last federal, state and local tax returns.

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CPA Practice

OCTOBER 23, 2024

An IP PIN is a six-digit number that prevents someone else from filing a federal tax return using a taxpayer’s Social Security number or Individual Taxpayer Identification Number. It’s a vital tool for ensuring the safety of taxpayers’ personal and financial information.

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Going Concern

AUGUST 14, 2024

We have no way of knowing if Heier Weisbrot & Bernstein, LLC has a tax return backlog. In this case, an unauthorized someone or someones got into HW&B’s tax software and attempted to file fraudulent tax returns. The fraudulent returns were identified and reported to the IRS to be remedied.

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tax return Tax Vermont New Jersey 112

RogerRossmeisl

MAY 31, 2022

The IRS requires donors and charitable organizations to supply certain information to prove their right to deduct charitable contributions. If you donate an item of property (or a group of similar items) worth more than $5,000, certain appraisal requirements apply. Keep these definitions in mind. An appraisal summary is a summary of.

tax return 246

tax return CPA Tax 246

MyIRSRelief

FEBRUARY 23, 2024

The Consequences of Unpaid Back Taxes and Unfiled Returns: Unpaid back taxes and unfiled returns can lead to a cascade of adverse consequences. Firstly, accumulating interest and penalties on unpaid taxes can significantly inflate the original debt, exacerbating financial strain.

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tax return Tax CPA accounting and finance 130

CPA Practice

DECEMBER 3, 2024

27)—A tax preparer who admitted to filing more than $3 million in fraudulent tax returns on behalf of her clients is facing up to 30 years in prison for her crime. Crawford is not representative of most tax preparers who provide honest services to their clients. (TNS) ATHENS, GA (Nov. District Judge Tilman E.

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tax preparation Georgia tax return Tax 97

RogerRossmeisl

MAY 15, 2023

If you’re a crypto investor or user, you may have noticed something new on your tax return this year. New information form Under the broker information reporting rules, brokers must report transactions in securities to both the IRS and investors. Transactions are reported.

Tax 233

Tax tax return CPA Sales 233

CPA Practice

FEBRUARY 20, 2025

Taxpayers should always carefully review documents for inaccuracies or missing information. To avoid mistakes and potential processing delays, taxpayers should refrain from filing until they have received all necessarytax documents.

income tax 129

income tax tax return Tax 129

Going Concern

MARCH 20, 2025

The Sheriffs Office says if they receive any more information related to this matter they will update the public. We have to get our tax papers back, so we can take them somewhere else, said one client to WSOC. Its going to be tax time and we have no tax returns. Im very wary because we have to find somebody else.

North Carolina 124

North Carolina accounting firms Tax accountant 124

TaxConnex

NOVEMBER 9, 2021

Bear in mind, though, that as your business grows, you may need different sales tax processes. Once a sales tax return is prepared, it must get filed and paid. Every notice represents the information you need to remain in compliance and something that requires diligent monitoring and timely attention and response.

Sales 246

Sales general ledger Tax tax return 246

RogerRossmeisl

DECEMBER 12, 2020

In a more typical year, crooks use stolen business identities to file fraudulent tax returns, apply for credit and empty bank accounts. However they might try to use your company’s information, there are steps you can take to reduce the risk. Is your business vulnerable? To protect against these tactics, deploy.

tax return 242

tax return CPA Tax Account 242

RogerRossmeisl

MAY 16, 2024

If you donate valuable items to charity and you want to deduct them on your tax return, you may be required to get an appraisal. The IRS requires donors and charitable organizations to supply certain information to prove their right to deduct charitable contributions. How can you protect your deduction?

tax return 239

tax return CPA Tax 239

TaxConnex

MARCH 30, 2021

When you think about tax compliance, of any kind, the first thing that comes to mind is filing, or even the tax return itself. Compliance with sales tax goes way beyond that. Here are some other aspects of sales tax that you shouldn’t overlook when trying to ensure your company remains compliant.

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tax return Sales Tax audit 246

TaxConnex

SEPTEMBER 30, 2021

With sales and use tax compliance, there are six primary deadlines each month – 7 th , 10 th , 15 th , 20 th , 25 th and 30 th – without considering the odd due dates for certain states such as the 12 th , 23 rd , 24 th and so on. Some jurisdictions take prepayment requirements for larger tax amounts.

Sales 246

Sales Tax Maryland tax return 246

TaxConnex

JULY 9, 2024

Yet often we see differences between a client’s billing system and their tax reporting. You could be billing taxes within your billing system and yet haven’t filed a single sales tax return and haven’t tracked the tax data to be aware of a future filing obligation. Tax types and nexus pose other wrinkles.

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Sales Tax Colorado tax return 264

TaxConnex

JANUARY 4, 2022

Whether you manage the process in-house, work with a technology vendor or outsource completely, you must understand the pieces to remaining compliant: remitting payments; maintaining and updating your tax calendar; reviewing nexus; keeping up with notices; researching taxability rules; validating exemption certificates … the list goes on.

tax return 242

tax return Sales Tax Start-ups 242

CPA Practice

NOVEMBER 15, 2024

Tasks that once took multiple days and/or accounting professionals to complete can be readily accomplished in a matter of hours – whether that’s creating detailed tax reports and summaries or gathering reams of financial data to help prepare tax returns.

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tax return audit accounting firms Tax 115

CTP

JANUARY 17, 2025

We will especially want to have this conversation if our clients tax return features one of the IRS red flags of the season. Below are key talking points we will want to review with clients to reassure them that we are prepared to walk them through an audit and to remind them of why working with a tax planner pays off in the end.

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audit Tax auditor tax return 96

RogerRossmeisl

MAY 16, 2023

Gig work, such driving a car for booked rides, selling goods online, renting out property, or providing other on-demand work, is taxable and must be reported as income on the worker’s tax return.

Tax 241

Tax tax return CPA 241

TaxConnex

MARCH 12, 2024

Dependency and worry Automation figures strongly in how companies stay ahead of their sales tax obligations, according to results from the third annual Taxconnex survey of top finance professionals. Based on these elements, the sales tax calculation software will determine if sales tax is applicable and at what rate.

E-commerce 264

E-commerce Technology tax return Sales 264

TaxConnex

JANUARY 30, 2025

Most sales tax calculation software today is SaaS-based (Software-as-a-Service), which often integrates with a companys invoicing system. Based on these elements, the software determines if sales tax is applicable and at what rate, calculates the sales tax and returns this for presentation on the invoice or the web page.

Sales 147

Sales Tax E-commerce Ohio 147

TaxConnex

JUNE 11, 2024

In states like Nebraska , Ohio and Washington , among others, you can register using the Streamlined Sales Tax Registration System (SSTRS). After registering, allow about 15 days for states to mail you the state’s registration number and reporting information. You also need to know which types of taxes you’ll be liable for.

Sales 264

Sales Tax North Dakota Nebraska 264

RogerRossmeisl

OCTOBER 23, 2022

Individuals and businesses are vulnerable If criminals use your information to file an income tax return to claim your refund, the first notification of fraud you receive may be a denial of your return. Tax returns are identified via Social Security numbers (SSNs) and the IRS won’t accept.

Tax 188

Tax tax return income tax CPA 188

Summit CPA

OCTOBER 10, 2024

Although, when these errors result in more taxes owed, it may result in additional interest and penalties for the taxpayer. The majority of returns with incorrect information are due to mistakes rather that fraud. Padding business deductions with non-deductible personal expenses may be considered tax fraud.

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auditor audit tax return Tax 93

TaxConnex

JUNE 8, 2023

Clients will be given individual logins to provide their data, review their cash requests, pull reports, and tax returns, and view historical data, thus removing some of the manual processes clients and practitioners navigated through previously.

tax return 246

tax return audit Tax Sales 246

CPA Practice

DECEMBER 9, 2024

Manufacturers of qualifying products can use the IRS ECO platform to register and provide information to the IRS for filing purposes. IRS ECO is a free electronic service that is secure and requires no special software, making it accessible to large and small businesses alike.

Manufacturing 97

Manufacturing tax return audit Tax 97

TaxConnex

SEPTEMBER 17, 2024

If sales tax calculation software is needed for your business, or you’d just rather rely on software to manage your sales tax calculation, there are additional things to consider to ensure you find the right software for you. There is another important piece of information to verify with the solution you choose.

Sales 264

Sales Tax Technology tax return 264

CPA Practice

DECEMBER 11, 2024

The IRS.gov retirement plan and IRA required minimum distributions FAQs webpage provides detailed information regarding the new provisions in the law. Help for those in charge of the estate to complete and file federal income tax returns can be found in Publication 559, Survivors, Executors and Administrators.

tax return 85

tax return income tax Tax accountant 85

CPA Practice

NOVEMBER 11, 2024

What you’ll learn: Automating sales tax returns: Simplify calculations, preparation, and filing for even the most complex tax environments. Special thanks to our sponsor for supporting this educational session: Avalara is a team of tax experts and technologists behind one solution for your accounting firm.

Tax 116

Tax Indiana Technology CPA 116

ThomsonReuters

FEBRUARY 4, 2025

Key areas where AI enhances tax services in large firms AI’s impact goes beyond simple automation — it’s changing how firms handle complex tax information. This is particularly evident in multi-jurisdictional work, helping professionals navigate tax information with ease.

accounting firms 98

accounting firms Tax accountant accounted 98

TaxConnex

OCTOBER 19, 2022

With sales and use tax compliance, there are six primary deadlines each month – 7 th , 10 th , 15 th , 20 th , 25 th and 30 th – without considering the odd due dates for certain states – 12 th , 23 rd , 24 th , etc. Returns are typically due either monthly, quarterly, or annually.

Sales 246

Sales Tax New Jersey Louisiana 246

TaxConnex

SEPTEMBER 21, 2021

When attempting to manage your sales tax obligations across many different states, one of the first things to hit you will be the dizzying number of deadlines you must follow when filing sales tax returns. Generally, the higher the volume of tax you’ll be reporting, the more often you have to file and remit.

tax return 246

tax return Sales Tax tax services 246

ThomsonReuters

MARCH 3, 2025

For years, automation has eliminated the need for tax professionals to spend their days steeped in manual data entry, searching for blank fields or numbers that dont add up. With agentic AI, accountants can automate complex pieces of the tax return process.

Tax 93

Tax accountant accounted Account 93

Accounting Insight

NOVEMBER 26, 2024

This explains why despite having up to 10 months’ notice to file your Self Assessment tax return, nearly half (46%) of owners are holding off filing until 2-3 months before the 31 st January deadline. The process of gathering the information and paperwork for completing Self Assessment increased stress levels by 60%.

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