It’s Called the Marketplace Fairness Act Illinois Senator Dick Durbin is one of the Senators who introduced Internet Sales Tax Reform through the Marketplace Fairness Act which, according to the Act is designed…
Year: 2011
NEW RULES IN THE WORKS FOR TAXATION OF NON RESIDENTS
A new bill, HR 1864: the Mobile Workforce State Income Tax Simplification Act of 2011, has been introduced into the House of Representatives. An identical copy to a bill introduced in 2009…
OFFSHORE VOLUNTARY DISCLOSURE PROGRAM
Annually, the IRS mandates taxpayers to disclose their offshore accounts and assets through a process known as FBARs (Foreign Bank Account Reporting). The deadline for filing these forms is June 30th. As…
NEXUS
For a family owned shop on Main Street, their sales tax situation is relatively straightforward. They are required to collect and remit to the appropriate authorities the applicable sales tax for their…
SALES TAX AND USE TAX
Most of us understand sales tax fairly well. Buy something in Illinois and Illinois sales tax will show up on your receipt, as well as other municipality taxes. Use tax is not…
SALES TAX UPDATE
It wasn’t all that long ago when income tax was the main topic of conversation in the world of tax. Especially in Illinois, once the national debate over the Bush tax cuts…