Attorney Audits

New guidelines for audits of attorneys have just been released by the IRS.  It focuses on several potential problem areas unique to attorneys and specifies how audits should be conducted in the context of those. Many of the particulars of attorney audits revolve around how attorneys are paid (noncash payments like stock or legal services…

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 state, their city, and the other municipalities they may fall within.  (This is tax we’re talking about, so the emphasis really needs to be on…

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 generally as well understood, probably because, although we’ve all technically owed it for years, until its recent budget problems, the state of Illinois…

Waiting on the Bill

Senator Durbin hasn’t introduced his national sales tax bill–his Main Street Fairness Act, which would allow states to charge sales tax on companies without a physical presence in the state–but the debate over sales tax continues to rise.  Two states, Arizona and California, are now considering affiliate tax bills, like those already in effect in…