Key Findings For decades, Supreme Court precedent held that marketplace facilitators (remote sellers) were not subject to state and local sales taxA sales tax is levied on retail sales of goods and services and, ideally, should apply to all final consumption with few exemptions. Many governments exempt goods like groceries; base broadening, such as including...Read More

What scares come to mind when purchasing Halloween candy: ghosts, witches, or taxes? Yes, taxes should be on the list because Halloween reminds us how simple-sounding policy can end up downright spooky (or at least confusing). Almost every state with a sales tax offers reduced rates or exemptions for groceries to help people afford essential...Read More

Whether you recently moved to the United States months ago or many years ago, if you have earned any sort of income, cash or check, it must be reported to the IRS regardless of your immigration status. This is the time of the year when all U.S. taxpayers must file their taxes, including non-residents. Many...Read More

As the tax and accounting landscape continues to evolve, so too does the talent that firms need to thrive. Jump to:   Firms are now turning to audit talent with new skillsets to help them navigate new challenges. From data analytics and management to cyber security and risk assessment, today’s auditors are expected to be...Read More

Clean, renewable energy or electricity production tax credits and incentives, financial concept : … [+] Green energy symbols atop coin stack e.g solar panel, wind turbine, fuel cell battery and the word TAX getty In the first of a two-episode series, Tim Jacobs of Hunton Andrews Kurth discusses the energy credits enacted in the Inflation...Read More

Introduction The structure of a country’s taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. code is a determining factor of its economic performance. A well-structured tax code is easy for taxpayers to comply...Read More

Funding legislation stuck with a Speaker-less House. The federal government is funded through Nov. 17, but without a speaker in place, the House cannot advance funding legislation as it normally would. Sen. Shelley Moore Capito (R-WV) told The Hill, “We’re running out of time… Any House member I talk to, they now just shrug their...Read More

“Just write it off.” “Go ahead and deduct it.” “I think there’s a tax credit for that.” Although you might have heard or even uttered one of the sentences above, have you ever wondered what it actually means? While both deductions and credits can save you a significant amount of money on your taxes, they...Read More

The Corporate Transparency Act (CTA), enacted in 2021, was passed to enhance transparency in entity structures and ownership to combat money laundering, tax fraud, and other illicit activities. Jump to: The Corporate Transparency Act (CTA), enacted in 2021, was passed to enhance transparency in entity structures and ownership to combat money laundering, tax fraud, and...Read More

Congress created a big incentive for restaurants and bars to report employees’ tips, which can be good for workers, too—even if many don’t believe it. So why hasn’t it done the same for the largely female-owned beauty industry? By Kelly Phillips Erb, Forbes Staff The holidays are coming and Paige Garland, co-owner of Rachel’s Salon...Read More