Interstate Tax Strategies

Three Tips on How to Prepare for a State Sales Tax Audit

LogoIn all businesses, being under the scrutiny of the Department of Revenue is not good news. It may even be a burden some experience for some. All business owners should be prepared with assistance in facing state sales tax audit.

Interstate Tax Strategies, P.C. Shares the Two Major Red Flags Tax Filers Should Avoid

LogoSales tax audit is one of the hurdles every capitalist has to surpass annually because only few manage to get through every sales tax auditing season without any violations. And it became an imperative task to handle since out of 145 million annual tax returns that are being filed to the Internal Revenue Services, some 47 million of those are self-prepared while others unintentionally face trouble.

NCSL Letter Sees Goodlatte's Online Sales Simplification Act of 2015 on Sales Tax Collection as 'Unconstitutional'

LogoEasy sales tax collection from internet purchases used to be one of the agendas that many lawmakers are pursuing this year to help states recover billions of dollars lost in annual revenue. For the previous years, the US states have asked the Congress for a federal legislation to ease up collection of sales tax. Yet, when the House Judiciary Committee Chairman Robert W. Goodlatte drafted the Online Sales Simplification Act of 2015, which were distributed to lobbyist and congressional offices this month, the state lawmakers slam the attempt to pass the bill.

Preventing Taxpayers from Getting Prosecuted: Voluntary Disclosure Program as an Effective Scheme to Battle Tax Evasion

LogoThe strong campaign to fight tax evasion that is becoming rampant worldwide appears to be the typical yet an essential agenda that many governments and tax authorities are hardly working on to push through. And introducing a voluntary disclosure program in the tax field to force non-compliant taxpayers to step forward and 'come clean' is expected to lessen the cases of tax evasion that limps the economy with many revenue losses it generate each year.

Taking a Leap with Saver's Credit: Planning Ahead for the Future While Enjoying Retirement Benefits

LogoThe many years of laborious work of millions of low and moderate income workers would be well paid off after the Internal Revenue Service announced that the full benefits of Saver’s credit, including the retirement contributions and special tax credit will be given on their 2014 tax returns and in further years.

Interstate Tax Strategies P.C. Gives Unsolicited Advice to Companies when It Comes to State Sales Tax Audit

LogoInflated sales tax assessments can be a result of lost or flawed exemption certificates. Improving state sales tax audit process and reducing audit exposure are some of the apprehensions of most companies. An assistance of an expert in the field like Interstate Tax Strategies P.C is a great help.

Medical Device Industry Lobbying Hard on Rescinding Tax from Obamacare Law: Is It Going to Be a "Win" for the Republicans and a Number of Democrats?

LogoBased on the audits performed by the government on the medical devices from Obamacare, a number, in fact thousands, of companies fail to pay for the taxes on these medical devices, causing a decline on its revenue target. This irregularity could brave more efforts to rescind tax. Something that the Republicans and a number of Democrats would definitely counter.

Established Atlanta Accounting Firm Release Tips on How to Prepare for Sales Tax Audit

LogoBusiness owners can feel secured and confident about his awaiting sales tax audit if he’s equipped with the right documents that are properly organized. An Established Atlanta Accounting Firm releases the following tips to help business owners prepare for the dreaded sales tax audit.

Changes to Voluntary Disclosure Programs: Will It Better Address the Issues on Base Erosion and Profit Sharing?

LogoOECD (Organization for Economic Co-Operation and Development ), an international organization providing forum where governments collaborate to share experiences and identify solutions to common problems, with its 34 member countries, has just finalized the 2014 International Tax Conference. In the said conference, John Koskinen, IRS Commissioner, talked about the vital role that international tax compliance and efforts that both IRS and the US government do to fight offshore tax evasion. He proposed a good approach in the modifications that IRS is taking into account to better implement the so-called “voluntary disclosure program” that would aid companies who are not fully aware of the policies that they need to comply yet were forced to close their businesses due to non-compliance.

Fraudulent Tax Preparation, Ethics in Tax Accounting, and the Price Bogus Tax Preparers Should Pay

LogoGlobal Tax Service LLC., an Atlanta tax service preparation company with several offices in Atlanta area and in other US states, has been prosecuted on federal charges for conspiring on preparing and filing forged federal tax returns that summed up to more than $1 million tax refunds. Frederick Jenkins and Willie Jenkins, the brothers who own the said company were arraigned on June 9 by Magistrate Judge Linda T. Walker of the US Department of Justice. Charges were made on May 20 by federal grand judges.