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.

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CPA Practice

OCTOBER 4, 2024

The Internal Revenue Service says its Direct File program has added 12 new states and will be available for the 2025 tax filing season. For the 2025 tax filing season, Direct File will also be available in Alaska, Connecticut, Idaho, Kansas, Maine, Maryland, New Jersey, New Mexico, North Carolina, Oregon, Pennsylvania and Wisconsin.

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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 9, 2024

As accountants and CPAs, dealing with payroll taxes is essential to managing finances for your business clients. Understanding the details of payroll taxes helps you better assist your clients in fulfilling their obligations and maximizing tax efficiency. Social Security Tax : Employers and employees each contribute 6.2%

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Cherry Bekaert

JANUARY 22, 2024

Newly proposed legislation, the Tax Relief for American Families and Workers Act of 2024 (the Act) , could potentially move the deadline for the Employee Retention Credit (ERC) claim submissions to the end of January 2024. tax returns for the 2022 tax year. The Act would restore the 12.5%

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CPA Practice

JUNE 13, 2023

TNS) A backlog of claims for the employee retention credit (ERC) has piled up before the IRS, as business owners seek out the retroactive tax credit. Take the case of Alicia Chapman, CEO of the Portland, Oregon-based metal manufacturer Willamette Technical Fabricators. By Melissa Angell, Inc.

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tax return Oregon payroll tax Tax 111

Anders CPA

MAY 23, 2023

Remote workers have become a staple of the workplace, but hiring out-of-state employees can lead to payroll tax complications. Multi-state payroll tax withholding done incorrectly can lead to penalties and interest for employers and create tax headaches for employees.

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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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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.

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ThomsonReuters

FEBRUARY 6, 2024

Jump to: What is direct tax? What is indirect tax? Direct tax and indirect tax. The differences between direct tax and indirect tax are important to understand. The differences between direct tax and indirect tax are important to understand. Direct tax is progressive in nature.

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inDinero Tax Tips

APRIL 20, 2021

Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business. Three other states—Nevada, Oregon, and Wyoming—decided to make incorporation in their state more appealing. Delaware does tax companies. With so few taxes, how does Delaware rake it in? and 11:59 p.m.

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ThomsonReuters

JULY 10, 2023

Jump to: What is sales tax? Sales tax varies by state What is nexus? What is excise tax? What is VAT tax? Sales tax vs. use tax Summary Sales tax, which is a consumption tax levied on the sale of goods and services, is an important source of revenue for governments at the state and local levels.

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CPA Practice

AUGUST 13, 2024

5—New Mexico is now the fourth state that can use the IRS’s new system for filing federal taxes, which officials believe will make the 2025 tax season easier and save people time and money. Oregon, New Jersey and Pennsylvania were the first to accept, with New Mexico following suit at the beginning of this month.

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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.

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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.

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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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CPA Practice

NOVEMBER 3, 2023

Imagine isolating just the tax industry’s revenue for 2022 ($13.6B), and then divide that by the total workforce (265,460). If today’s tax accountant brings in an average of $51,398 in revenue, what will that number look like a decade from now? Labor productivity measures economic output against labor input. Fifty years hence?

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accountant Account accounted Technology 124

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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PYMNTS

NOVEMBER 10, 2017

For more insights on the state of payments for rideshare workers, PYMNTS recently spoke with several Oregon-based rideshare drivers about their experiences getting paid through their service. Deep Dive: Direct Deposits and Tax Returns. When tax time rolls around, eight out of 10 U.S.

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tax return Oregon Tax accounted 40

ThomsonReuters

JUNE 28, 2021

Oregon: $12.00 The IRS has issued the much anticipated revised Form 941 , Employer’s Quarterly Federal Tax Return, and its instructions for used beginning with the second quarter of 2021. Generally, if a tax filing or payment deadline falls on a weekend or legal holiday, the due date is the next business day.

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PYMNTS

APRIL 24, 2020

However, nearly 156 million Americans filed taxes last year, which leaves about 68 million Americans waiting to get their payment (although some higher-income taxpayers won’t qualify). Treasury Department sent to Democratic Senator Ron Wyden of Oregon on Thursday (April 23).

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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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PYMNTS

APRIL 1, 2020

Ron Wyden of Oregon sent a letter to Mnuchin saying that, given the specific efforts of Congress to enact oversight to the bill, Mnuchin should do what he agreed to and let them know immediately about any issues with oversight, rather than waiting on Trump. So Senate Minority Leader Chuck Schumer, Sen. Sherrod Brown of Ohio and Sen.

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Oregon Ohio tax return Government 52

PYMNTS

JULY 29, 2020

Lawmakers want to fix a mix-up in the economic relief CARES Act laws from March that could cost small businesses $120 billion in taxes, The Wall Street Journal (WSJ) reports. That could leave millions of small businesses without a lifeline for their next tax returns.

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