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. Need to file a 2019 tax return?

Rhode Island 122

Rhode Island tax return Tax West Virginia 122

CPA Practice

APRIL 9, 2024

Compliance and Reporting Ensuring compliance with payroll tax regulations involves timely and accurate reporting to various tax authorities. As an accountant or CPA, you play a vital role in: Calculating and withholding taxes correctly. Filing tax returns and remitting payments on time.

payroll tax 110

payroll tax West Virginia payroll cpas 110

CPA Practice

OCTOBER 4, 2024

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. It guides taxpayers through a series of questions to prepare their federal tax return step-by-step.

Alaska 126

Alaska South Dakota North Carolina tax return 126

TaxConnex

SEPTEMBER 28, 2023

Should you register for sales tax, seller’s use tax or consumer’s use tax? As a seller, you will likely register for either sales tax or seller’s use tax. Some states apply different rates to tax types and some states have different tax returns for different types of tax.

Sales 147

Sales Tax West Virginia North Dakota 147

Withum

DECEMBER 19, 2022

Whether they grew up playing in the parks of Hershey, Pennsylvania, the frequent downpours of Oxfordshire, UK, the bitter cold of Detroit, Michigan, or the manicured training fields of Borussia Dortmund, most aspiring pro soccer players dream of playing in the World Cup. This results in a US tax bill of about $111,000.

income tax 120

income tax Michigan Pennsylvania Sports 120

Snyder

JUNE 9, 2022

State income taxes. Business income taxes. Local income taxes. Assessment tax return and short tax return. Income tax deadlines. Income tax extension: when is the last day to file income tax? Federal income tax brackets 2021 vs IRS income tax brackets 2022.

income tax 52

income tax tax return E-commerce Tax 52

CPA Practice

OCTOBER 12, 2023

Also exempt from the tax: Gross receipts from the retail sale of any firearm, firearm precursor part, or ammunition by any licensed firearms dealer, firearms manufacturer, or ammunition vendor in any quarterly period in which their total gross receipts from the retail sales of firearms, firearm precursor parts, or ammunition is less than $5,000.

California 124

California Sales Tax Pennsylvania 124

TaxConnex

JUNE 1, 2023

So, is cancelling your sales tax registration simple? Process varies by state Cancelling can be as straightforward as writing “Final” on your sales tax return. If you do not, you may receive Notices of Delinquency from the Division of Taxation for any tax returns due but not filed.” And do you always want to do it?

Sales 130

Sales Tax New Jersey North Carolina 130

CPA Practice

AUGUST 27, 2024

There are a few other differences you should know : Real estate property does not necessitate filing a tax return; an assessor estimates the value of your property and sends you a notice detailing the valuation and taxable amounts. When it’s time to pay, you’ll receive a real property tax bill in the mail.

Rhode Island 115

Rhode Island Tax Real Estate tax return 115

Cherry Bekaert

AUGUST 25, 2023

Auto Dealership 1 Auto Dealership 1 is a franchised group of six automotive dealerships headquartered in Pennsylvania. These dealerships also conduct business in Pennsylvania. There are a few important things to remember when claiming the ERC tax credit.

Pennsylvania 97

Pennsylvania Government tax return Healthcare 97

CPA Practice

SEPTEMBER 12, 2024

Earlier in his career, Burke held several progressive managerial roles in financial services, including serving as executive vice president and chief lending officer at Wayne Bank, where he managed the overall sales, service, and operations of the commercial banking division across Pennsylvania and New York. Hollerich holds a B.A.

Kansas 104

Kansas Pennsylvania audit accounting and finance 104

TaxConnex

JUNE 6, 2023

Your inventory warehoused by a marketplace facilitator in a particular state could create physical nexus, although a local court did recently rule that sellers’ inventory did not do so in Pennsylvania. Local sales taxes can also apply, especially in home-rule states like Colorado, Illinois and Alabama.

Sales 130

Sales Tax South Dakota Alaska 130

MyIRSRelief

JULY 3, 2023

During an ERC audit, the IRS reviews the business’s records, including payroll records, tax returns, and supporting documentation related to ERC claims. Contact us for professional tax help today! Certain factors, such as high claim amounts or inconsistencies in reported data, may trigger an audit.

audit 130

audit North Carolina Oklahoma Ohio 130

ThomsonReuters

FEBRUARY 1, 2021

The FUTA tax rate is currently 6.0% FUTA tax credit reduction when they file their Form 940 (Employer’s Annual Federal Unemployment (FUTA) Tax Return), resulting in a net FUTA tax rate of 0.6%.FUTA on the first $7,000 in wages per employee each year. However, employers generally receive a 5.4%

Hawaii 89

Hawaii Nevada California New Jersey 89

Anders CPA

MAY 23, 2023

State Payroll Reciprocity Agreements It’s possible for remote or out-of-state workers to be taxed twice, but this double taxation can be resolved by the taxpayer when preparing their state tax returns. The taxpayer would then be refunded for taxes withheld unnecessarily from their paycheck.

payroll tax 98

payroll tax payroll Rhode Island South Dakota 98

Going Concern

OCTOBER 7, 2022

copied and used its mark with the intent to trick consumers into buying a knockoff services, the US District Court for the Eastern District of Pennsylvania said. Graham, Washington, man pleads guilty to tax fraud and aiding and assisting with false tax returns [ Department of Justice ]. Attorney Nick Brown.

Illinois 98

Illinois CPA audit financial statements 98

Withum

FEBRUARY 21, 2022

On February 1st, Olga was featured in a segment titled Tax Filing Tips for What to Looks for on IRS Letters 6419, 6475. The piece gave helpful information for people who were impacted by the Child Tax Credit and the Third Economic Impact Payment and how they can receive their tax returns as quickly as possible.

Pennsylvania 52

Pennsylvania tax return public accounting tax planning 52

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. People face a July 17 deadline to file their returns. million people across the U.S.

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. People face a July 17 deadline to file their returns. million people across the U.S.

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

CPA Practice

OCTOBER 18, 2024

Venus Tuazon, CPA Director CliftonLarsonAllen Venus has more than 18 years of public accounting experience supporting the DC Metro Area’s nonprofit community, providing services to a variety of complex tax-exempt organizations, including independent schools, human services, foundations, associations, religious, and cultural sectors, and others.

CPA 110

CPA Non-Profits cpas Washington 110

CPA Practice

MAY 17, 2023

Most states tax personal property owned by businesses and require businesses to complete and file a personal property rendition every year. The exceptions to that rule are Delaware, Hawaii, Illinois, Iowa, Minnesota, New Hampshire, New Jersey, New York, North Dakota, Ohio, Pennsylvania, and South Dakota.

South Dakota 105

South Dakota North Dakota Washington Real Estate 105

CPA Practice

AUGUST 13, 2024

Oregon, New Jersey and Pennsylvania were the first to accept, with New Mexico following suit at the beginning of this month. Melanie Stansbury hailed the new tool, but local tax preparation services offered mixed reviews. After conducting successful pilots in 12 states last year, the U.S. Martin Heinrich and U.S.

New Mexico 52

New Mexico tax preparation Oregon New Jersey 52

Anders CPA

SEPTEMBER 28, 2022

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 tax return in a particular state, regardless of if SaaS is actually taxable by law within that given state.

Rhode Island 52

Rhode Island West Virginia South Dakota South Carolina 52

CPA Practice

APRIL 10, 2023

States typically take one of five different approaches to taxing accommodations: A single, statewide tax on accommodations but no additional local taxes (e.g., Connecticut, Maine, New Hampshire) A combined state/local sales tax on accommodations and local jurisdictions can impose an additional local accommodations tax (e.g.,

Tax 85

Tax West Virginia Wisconsin Virginia 85

CTP

FEBRUARY 29, 2024

Casual gamblers can determine their net taxable income from gambling wins and losses in New Jersey and Pennsylvania. Your clients can also consult a tax attorney if they are new to professional gambling and unsure how to proceed. The expert can help them avoid tax mistakes, fines, and legal issues.

Gambling 105

Gambling Tax Account accountant 105

inDinero Accounting

DECEMBER 5, 2023

If you want to dive deeper into this topic, you can connect with one of the experts on our business tax services team. QSBS Rules for Qualification QSBS Tax Treatment How to Report QSBS on Your Tax Return Conclusion What is the QSBS Exemption? This would come to a capital gains tax bill of $140,000 ($500,000 * 0.28).

tax return 52

tax return Mississippi Wisconsin Alabama 52

CPA Practice

AUGUST 15, 2023

Ann is a graduate of the Wharton School at the University of Pennsylvania. Gail is the author of over 30 books (including Mint.com For Dummies , The Idiot’s Guide to Introductory Accounting , and Surviving Financial Downsizing: A Practical Guide to Living Well on Less Income ), and she maintains a small tax practice.

North Carolina 52

North Carolina Tax Indiana CPA 52

CPA Practice

SEPTEMBER 17, 2024

Since joining the firm in 2021, Brianna has excelled in accounting, auditing, compliance, financial statement preparation, tax return preparation, and special projects. Nathan, who joined the firm in 2022, has shown outstanding proficiency in accounting, compliance, tax return preparation, business valuations, and special projects.

Construction 52

Construction Illinois audit Real Estate 52

ThomsonReuters

JUNE 11, 2024

Convenience of employer Convenience in the employer rule states that payroll tax is withheld and paid where the employer is located, not necessarily where the employee is working. Currently, only a few states have adopted the convenience of the employer rule, including New York, Connecticut, Delaware, Nebraska, Pennsylvania, and New Jersey.

accounting firms 59

accounting firms Account accountant accounted 59

Going Concern

FEBRUARY 26, 2024

” Pennsylvania Auditor General Timothy L. Price and his tax return preparation business, Price’s Accounting Firm Inc., from preparing federal income tax returns for others. Over the years, they prepared thousands of fraudulent returns, causing over $3.5 million in tax loss to the IRS.

audit 59

audit Mississippi auditor Non-Profits 59

ThomsonReuters

JUNE 22, 2021

Beginning July 1, new forms will be used to report withholding tax. Form TRD-41414, Wage Withholding Tax Return, will be used to report withholding from payments to employees. Form TRD-41409, Non-Wage Withholding Tax Return, will be used to report withholding from non-wage payments. Pennsylvania. New Mexico.

payroll 72

payroll Virginia Utah West Virginia 72

Going Concern

JULY 8, 2022

Plus, Pennsylvania accountant loves tax evasion, North Carolina CPA indicted on securities fraud charge, and Kentucky accountant gets jail time for sex trafficking. Hammer, who pleaded guilty in August 2018 to one count of filing a false tax return, was the financial officer for various companies controlled by Michael D.

North Carolina 52

North Carolina Delaware Account accountant 52

CPA Practice

AUGUST 13, 2024

That’s why the Shapiro Administration worked with the Treasury to bring this program to Pennsylvania. Filing your taxes should be free and easy—that’s why we’re improving our digital services and adopting IRS Direct File here in Pennsylvania,” Shapiro said. Josh Shapiro last week joined U.S.

Pennsylvania 95

Pennsylvania income tax tax return Tax 95

ThomsonReuters

FEBRUARY 9, 2022

The DOL also has a list of potential FUTA credit reduction states for tax year 2022, which includes California, Colorado, Connecticut, Illinois, Massachusetts, Minnesota, New Jersey, New York, Pennsylvania, and the U.S. This comes to an additional $21 in FUTA tax per employee to the $7,000 annual taxable wage base.

payroll 98

payroll California Connecticut New Jersey 98

ThomsonReuters

JUNE 28, 2021

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. Alabama has announced tax filing and payment extensions to state taxpayers affected by Topical Storm Claudette. This includes withholding taxes.

payroll 52

payroll California income tax North Dakota 52

TaxConnex

APRIL 8, 2025

The exemption doesnt necessarily apply to local sales taxes, such as those of a given parish in Louisiana, a state already infamous for its complex sales tax structure. (As As of this year, parish tax returns must include new line items for prescription drug sales.)

Sales 130

Sales Tax Vermont Alaska 130

TaxConnex

DECEMBER 17, 2024

Though some states (such as Pennsylvania ) have determined that an Amazon warehouse creates no physical nexus or special sales tax obligation for online sellers, this trend bears watching in the coming year. You nevertheless might still face the challenge of having created physical nexus. Change of staff: Who left your company in 2024?

Sales 130

Sales Tax auditor audit 130