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A group of Mississippitaxreturn preparers were sentenced to prison on February 22, 2024, for charges related to a conspiracy to prepare and file false taxreturns for clients in Jackson, Mississippi. Earnest and Randell were also convicted of preparing such returns. million in tax loss to the IRS.
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 taxreturn in a particular state, regardless of if SaaS is actually taxable by law within that given state. appeared first on Anders CPA.
However, the IRS rules surrounding this tax break are complicated and go beyond what we’ve covered in this article. If you want to dive deeper into this topic, you can connect with one of the experts on our business taxservices team. This would come to a capital gains tax bill of $140,000 ($500,000 * 0.28).
Customers of the Falasz Tax and Accounting company say they’re upset because the company didn’t file their taxes on time in April and then missed the October extension date. Earnest and Randell were separately convicted of individual counts of preparing false taxreturns.
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