E-comm challenges; advising on biz gross sales; the IRS and math errors; and different highlights from our favourite tax bloggers.
Reply unclear; ask once more later
Said bluntly
- Withum (
https://www.withum.com/sources/ ): Washington Gov. Bob Ferguson lately signed laws enacting vital tax hikes to each the state’s enterprise & occupation and its gross sales & use taxes. Each purpose to fill a big hole within the state’s price range. - Tax Basis (
https://taxfoundation.org/weblog ): Oklahoma continues to pursue pro-growth tax reform, pursuing quite a lot of reforms to the company and particular person earnings tax. Why it ought to, nonetheless, keep away from insurance policies that might damage the financial system, like enacting a wholesale elimination of the property tax. - The Gross sales Tax Individuals (
https://gross sales.tax/expert-articles/ ): Social market spending is rising quick, maybe $200 billion by the tip of the last decade. For shoppers seeking to faucet into this bonanza, what are the gross sales tax implications? - Vertex (
https://www.vertexinc.com/sources/resource-library/filter/field_asset_type/weblog?web page=0 ): Is your crew usually able to deal with e-commerce shoppers? - Avalara (
https://www.avalara.com/weblog/en/north-america.html ): Gross sales tax holidays may be enjoyable for politicos to trumpet to customers/voters, however these often-fluid breaks can drive e-commerce shoppers nuts. What may very well be executed to enhance vacation scheduling? - TaxConnex (
https://www.taxconnex.com/blog- ): Bear in mind when “film evening” meant a ticket, a $7 tub of popcorn coated yellow and a heat fold-down seat {that a} stranger had been sitting in moments earlier than? No extra: a have a look at gross sales tax and streaming companies. - Taxjar (
https://www.taxjar.com/sources/weblog ): Why handbook gross sales tax instruments do not all the time scale. - Sovos (
https://sovos.com/weblog/ ): Half 2 of the weblog collection with KPMG continues to have a look at world e-invoicing.
Math hysteria
- The Nationwide Affiliation of Tax Professionals (
https://weblog.natptax.com/ ): Shares vs. property, taxability of goodwill, installment strategies: What tax execs ought to know earlier than advising on a enterprise sale. - Tax Professional Middle (
https://accountants.intuit.com/taxprocenter/) : A latest panel dialogue checked out how AI can match into your productiveness and consumer work. - Present Federal Tax Developments (
https://www.currentfederaltaxdevelopments.com/ ): Substantiation of deductions usually proves contentious, significantly with noncash charitable contributions. The latest Tax Court docket opinion in John Henry Besaw v. Commissioner gives a stark reminder of the record-keeping required to protect these deductions. - Wiss (
https://wiss.com/insights/learn/ ): What to remind them about the important thing advantages of outsourcing accounting companies. - Armanino (
https://www.armanino.com/articles/ ): And a step-by-step guidelines to see if outsourcing is lastly proper to your consumer. - Taxnotes (
https://www.taxnotes.com/procedurally-taxing ): Think about the IRS asserts that your consumer has a “math error” on their return below Sec. 6213. You do not assume there’s an error, so that you ship a well timed request for abatement, which by legislation the IRS ought to honor. What occurs if the IRS would not?
