Washington, Lincoln and the U.S. tax system
Accounting Today
FEBRUARY 20, 2024
In the wake of President's Day, and in the midst of tax season, take a minute to learn about Washington's and Lincoln's key contributions to the U.S. tax system.
Washington Related Topics 
Washington State Considers Creating a Retail Delivery Fee
CPA Practice
JULY 31, 2024
Washington could be on its way to becoming the third state in the nation with a retail delivery fee, following the route paved by Colorado and Minnesota. So, what would a Washington retail delivery fee look like? Why would Washington create a retail delivery fee? What would be subject to a Washington retail delivery fee?
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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors
Trending Sources
Supreme Court Won’t Take Up Washington Capital Gains Tax Challenge
CPA Practice
JANUARY 16, 2024
Washington , the lawsuit challenging Washington’s capital gains tax. Treasure Mackley, executive director of Invest in WA Now, which backs the capital gains tax, said the decision was “a huge victory for Washington kids and families.” By Claire Withycombe, The Seattle Times (TNS) The U.S. ©2024 The Seattle Times.
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Scott Reddersen Awarded 40 Under 40 Honor by Washington Business Journal
Withum
FEBRUARY 16, 2024
Withum is proud to share that Scott Reddersen was named to the Washington Business Journal 40 Under 40 List for 2024. The Washington Business Journal’ s 40 Under 40 celebrates up-and-coming professionals who have made significant contributions to their industries and communities.
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Illinois CPA Society Announces Mary T. Washington Wylie Internship Preparation Program Scholars
CPA Practice
JANUARY 9, 2024
Washington Wylie Internship Preparation Program. Washington Wylie Opportunity Fund. This fund honors Washington Wylie’s legacy as a trailblazer in the accounting profession. The program, which now boasts 338 alumni, is funded by donations to the CPA Endowment Fund of Illinois’ Mary T.
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Frontrunner in Washington's gov. race defends capital gains tax
Accounting Today
OCTOBER 1, 2024
Without an income tax, Washington has one of the most regressive tax systems in the U.S.
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Online selling the subject of recent judgments
TaxConnex
JULY 15, 2022
The Washington Department of Revenue upheld a retail sales tax assessment on a taxpayer who failed to collect retail sales tax on sales to a renewable energy company. According to the court, the company made “retail sales” by arranging and managing such “roll-out” work in Washington. Lack of energy. Quite an arrangement. has ruled ?that
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IRS Gives Tax Relief Extension to Spokane, Washington, Area Taxpayers Affected by Fires
CPA Practice
FEBRUARY 29, 2024
The Internal Revenue Service has given tax relief for individuals and businesses in parts of Washington state affected by wildfires that began on Aug. The same relief will be available to any other Washington state localities added later to the disaster area. 301.7508A-1(d)(2) and are entitled to the relief detailed below.
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CohnReznick Teams Up with Boys and Girls Clubs of Greater Washington for Professional Development
CPA Practice
AUGUST 27, 2024
The Boys & Girls Clubs of Greater Washington (BGCGW) and CohnReznick will be working together to provide hands-on professional development learning experiences to BGCGW teens and young adults as they enter the workforce and make crucial decisions about career paths.
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What Might Be Ahead as Many Tax Provisions are Scheduled to Expire?
RogerRossmeisl
JULY 17, 2024
A new political landscape in Washington could also mean other tax law changes. The answer isn’t clear because the outcome of this November’s presidential and congressional elections is expected to affect the fate of many expiring provisions. Corporate vs. individual taxes The TCJA cut the maximum corporate tax rate from 35% to.
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Understanding use tax
TaxConnex
MARCH 31, 2022
Looking at Washington’ s definition we learn that use tax is determined by the “value of the goods when first used in Washington”. Many of these companies collect Washington’s sales tax, but if the company from which you order does not, you owe the use tax.”). Two types of use tax.
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Mr. Sikich Goes to Washington (Again)
Going Concern
DECEMBER 18, 2024
Sikich has a $250 million investment from Bain Capital to play around with so we don’t expect they’re done gobbling up other people’s established contracts in Washington. The post Mr. Sikich Goes to Washington (Again) appeared first on Going Concern.
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Ways Your Business Can Accelerate Taxable Income and Defer Deductions?
RogerRossmeisl
MAY 5, 2022
There have been discussions in Washington about raising the corporate federal income tax rate from its current flat 21%. There have also been discussions in Washington about raising individual federal income tax rates.
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3 additional considerations for SaaS on managing sales tax obligations
TaxConnex
JANUARY 23, 2024
Other states, including Washington, have a “multiple points of use” exemption certificate that will relieve the seller from charging the sales tax and shift the responsibility to the buyer for accruing and remitting use tax.
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IRS Orders Immediate Stop to New Employee Retention Tax Credit Processing
RogerRossmeisl
SEPTEMBER 14, 2023
As appearing in IRS IR-2023-169 To protect taxpayers from scams, IRS orders immediate stop to new Employee Retention Tax Credit (ERTC) processing amid surge of questionable claims Concerns from tax pros, aggressive marketing to ineligible applicants highlights unacceptable risk to businesses and the tax system Moratorium on processing of new claims (..)
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States hit ‘Delete’ on some sales tax measures | TaxConnex
TaxConnex
AUGUST 1, 2024
North Carolina joins South Dakota, California, Colorado, Iowa, Maine, North Dakota, Washington and Wisconsin in eliminating transaction-based nexus thresholds ; some states never adopted one.
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IRS Announces Tax Relief For Wildfire Victims in Parts of Washington
CPA Practice
OCTOBER 7, 2024
By Tammy Ayer Yakima Herald-Republic, Wash. 4—Federal officials have announced tax relief for people and businesses in the Yakama Nation affected by summer wildfires that began June 22. Taxpayers now have until Feb.
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Missouri Enacts Economic Nexus
TaxConnex
JULY 6, 2021
44 other states and Washington D.C., The new law allows Missouri and local jurisdictions to collect a use tax from remote sellers who sell and deliver more than $100,000 intangible goods to consumers in the state annually. Collection and remittance obligations do not begin until January 1, 2023.?.
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CPAs from Several States Visited Washington D.C. to Promote Accounting and Tax Issues
CPA Practice
MAY 30, 2023
Certified Public Accountants from across the nation made their way to Capitol Hill last week to meet with lawmakers on issues important to the accounting profession during the American Institute of CPAs (AICPA) Spring Meeting of Council and Annual Members Meeting from May 23-25.
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Why are some states’ sale taxes higher than others?
TaxConnex
SEPTEMBER 10, 2024
Why do the states with sales taxes have such a range, from the high combined state and local taxation (pushing 10%) of Louisiana, Tennessee, Arkansas and Washington to the lows of Alaska , Wyoming and Maine. The federal income tax has just seven brackets to cover the whole span of what somebody can make.
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Transaction Thresholds: Vanishing Acts?
TaxConnex
APRIL 4, 2024
South Dakota joins California, Colorado, Iowa, Louisiana, Maine, Massachusetts, North Dakota, Washington and Wisconsin in recently eliminating transaction-based nexus thresholds. Thirteen economic-nexus states never had such thresholds.) Utah recently considered dropping its 200-transaction threshold but has tabled the legislation.
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Washington wildfire victims get tax relief
Accounting Today
OCTOBER 7, 2024
The IRS has pushed back filing and payment deadlines for those impacted by the fires that began last June 22.
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Sales tax on shipping: latest updates
TaxConnex
SEPTEMBER 5, 2024
Illinois, New York and the state of Washington have also discussed RDFs and it seems plausible that other states will soon take up the debate, too. Washington: Taxable if the item is. By state Alabama: Shipping exempt if separately stated on the invoice. Tennessee: Taxable if the item is. Texas: Taxable if the item is.
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What you need to know: “Origin” vs. “destination” states
TaxConnex
SEPTEMBER 7, 2021
Most states and Washington, D.C., In most other situations, following the destination-based sourcing rules for interstate commerce is a safe bet. Origin based states Major origin-based states include Texas, Pennsylvania, Ohio, Virginia and California. are destination-based requiring you to apply sales tax at the location of the customer.
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How to register for states’ sales tax
TaxConnex
JUNE 11, 2024
In states like Nebraska , Ohio and Washington , among others, you can register using the Streamlined Sales Tax Registration System (SSTRS). And note that many software and service providers who claim to manage sales tax for you don’t help with registrations, except for an extra cost.
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10 big trends in SALT for 2024
Accounting Today
FEBRUARY 13, 2024
The Washington National Tax Office of Grant Thornton points out the most important state and local tax developments to keep an eye out for.
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States ease nexus thresholds
TaxConnex
JUNE 20, 2023
South Dakota joins California, Colorado, Iowa, Maine, North Dakota, Washington and Wisconsin in eliminating transaction-based nexus thresholds. As of July 1, South Dakota is removing the 200-transaction threshold; only those selling $100,000 or more into the state will be required to register and collect and remit sales tax. Starting Aug.
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What’s new: state sales and use taxes
TaxConnex
MAY 10, 2022
Washington Department of Revenue’s Administrative Review and Hearings Division released decision number? This exemption is available to telephone common carriers whose networks are also used to provide services other than internet. The exemption becomes effective July 1. 41 WTD 118 ?(originally
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2024: What’s coming up in sales tax
TaxConnex
DECEMBER 28, 2023
For five years, states have been whittling their transaction thresholds – Colorado, Iowa, Massachusetts, North Dakota, Washington and California were among the first, in 2019 – sometimes simultaneously raising their dollar-volume thresholds.
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Understanding Use Tax
TaxConnex
FEBRUARY 25, 2021
A number of states - including Colorado, Georgia, Pennsylvania and Washington and more - have chosen to offer remote sellers the option of complying with strict use tax notification and reporting requirements rather than registering for sales tax under nexus provisions. Use tax or sales tax is due on a sale, but not both.
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App purchases and sales and use tax
TaxConnex
AUGUST 30, 2022
Pennsylvania and the state of Washington (check thoroughly in the case of the latter), among many others. (In some states, such as Colorado and even Alaska , home rule statutes might also apply.). Apps are specifically mentioned in the sales tax regs of D.C.,
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Sales Tax on Shipping: When Does it Apply?
TaxConnex
JANUARY 11, 2022
When only some of the contents of a shipment are taxable, the shipping charges must be pro-rated in Minnesota, New Jersey, North Carolina, North Dakota, Ohio, Rhode Island, South Dakota, Vermont, Washington and Wisconsin (where a “reasonable allocation” is required).
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Cookies, clicks and Wayfair: Why economic nexus started
TaxConnex
JUNE 13, 2024
Colorado, for instance, used to also require or 200 or more separate transactions in the state, but has since joined South Dakota, California, Iowa, Louisiana, Maine, Massachusetts, North Dakota, Washington and Wisconsin in eliminating transaction-based thresholds.
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Legalization and Taxation of Cannabis
TaxConnex
JUNE 17, 2021
Among the first states to legalize marijuana some seven years ago, Washington collected $614 million in marijuana tax revenue last year. As of last month, states reported a combined total of $7.9 billion in tax revenue from legal, adult-use marijuana sales, according to one pro-legalization group.
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Sales Tax Updates: What’s new in sales tax for April?
TaxConnex
MAY 7, 2024
Leading states, according to the chart, are Washington (1.37%), Colorado (1.23%) and Montana (1.09%). The team expects to raise hundreds of millions of dollars from the sale of PSLs, meaning that avoiding the 8.75% sales tax can turn into an additional subsidy of $25 million or more.
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Jeff Bezos reaps Florida tax benefit with $4B Amazon share sale
Accounting Today
FEBRUARY 14, 2024
Leaving Washington state, which in 2022 introduced a 7% tax on capital gains, could have saved Bezos $288 million in taxes after he unloaded $4 billion of Amazon.com stock in the past week.
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Taxes on Halloween Candy Can be a Scary Task for Retailers
CPA Practice
OCTOBER 16, 2024
Washington: Now you tax candy, now you don’t What went down a while back in Washington state ratchets up candy sales tax silliness. Candy has been exempt in Washington since December 2, 2010. But in this case, they also make for a lot of label reading. I mean, look at how many jelly beans there are. It’s just enormous.”
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Intuit, H&R Block tax AIs critiqued on accuracy
Accounting Today
MARCH 6, 2024
An analysis by the Washington Post found the generative AI chatbots from both companies can give tragically wrong tax answers.
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What's New in State Sales and Use Taxes
TaxConnex
MAY 6, 2021
Washington has amended its excise tax rule on leases or rentals of tangible personal property to clarify the department’s policies regarding charges for such construction services as concrete pumping. The latter includes those that provide services for senior citizens including health, welfare and counseling services, with certain criteria.
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When do I have to start collecting out of state sales tax? Part 2
TaxConnex
JULY 21, 2022
Most states and Washington, D.C., In other words, if you’re selling to a customer in Maine and you’ve established that you have economic or physical nexus in that state, you must collect and remit Maine sales tax from that customer. are destination-based, requiring you to apply sales tax at the location of the customer.
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NYU to Host Federal Real Estate and Partnerships Tax Conference
CPA Practice
MAY 14, 2024
The NYU School of Professional Studies Division of Programs in Business will host the 2024 Federal Real Estate and Partnerships Tax Conference at the Mayflower Hotel in Washington, DC, from June 6 to 7. Principal, EY, Washington, DC Robert D. Partner, Venable, Washington, DC Stephen R. Johnson, Esq. Schachat, Esq. Johnson, Esq.
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Capital gains hikes at center of Biden's second-term tax agenda
Accounting Today
MARCH 11, 2024
President Joe Biden's budget proposal — which calls for sweeping tax increases on corporations and the wealthy — is the opening round of a looming tax fight set to consume Washington next year.
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BDO USA Adds 56 New Principals
CPA Practice
OCTOBER 1, 2024
Elitar Kim Assurance New York Jennifer Kimmel Assurance Stamford Taylor Klein Assurance Nashville Joshua Kleinberg Assurance Greater Washington D.C. Eric Lani Assurance Pittsburgh Laura Lisi Assurance New York Rosy Lor Tax Greater Washington D.C. Matt Starkey Assurance Greater Washington D.C.
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Liberty Tax to pay $750K over 'cash in a flash' promises
Accounting Today
JANUARY 10, 2024
The Washington, D.C., Attorney General's office accused the tax prep chain of illegally overcharged thousands of residents and misleading consumers.
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