Tax

For most Americans who are owed a tax refund by the IRS, there's no need to panic. The tax agency doesn't assess penalties when a taxpayer is owed a refund, since it is based on a percentage of the amount owed.

Can’t file your tax return by the April 15 deadline? Taxpayers can request an automatic six-month extension of time to file the return, but what many don’t know can cost them.

Tax season is almost over… a few more 20 hour days, and most tax-focused professionals will have the chance to take a well-earned vacation. Whether you want to recharge by relaxing or engaging in exciting activities, there are many options specifically tailored to help you recharge. Better still, a few lush resorts offer special discounts […]

The American Institute of CPAs has submitted comments to the U.S. Department of the Treasury and the Internal Revenue Service (IRS) about the guidance regarding the deduction for qualified business income (QBI) under Internal Revenue Code section 199A.

New Mexico is the latest of more than 35 states to adopt economic nexus and impose a sales tax collection requirement on remote businesses that have a certain amount of economic activity in the state.

This sales tax roundup packs a punch. Here are some of the most notable sales tax changes that could impact your sales tax compliance.

RSM US LLP, a national accounting, audit, tax, and consulting services firm, will join the Avalara CRUSH19 sales tax conference as the event’s Diamond sponsor. Avalara is a provider of tax compliance automation software for businesses of all sizes. This year’s event, themed The Path Forward for Tax Compliance, will take place May 8–10 in […]

Often, taxpayers choose the standard deduction assuming that itemized deductions and other deductions would be less beneficial. This feeling is even stronger with the new increase in the standard deduction from the Tax Cuts and Jobs Act, however ...