Taxes

 IRS Says that Idle ITINs Expire After 5 Years

July 1, 2014 

IRS Says that Idle ITINs Expire After 5 Years

The Internal Revenue Service announced on Tuesday that Individual Taxpayer Identification Numbers (ITINs) will expire if not used on a federal income tax return for five consecutive years. The IRS will not begin deactivating ITINs until 2016, however.

Isaac M. O'Bannon

 10 Common Nexus-Creating Activities for Sales and Use Tax

June 30, 2014 

10 Common Nexus-Creating Activities for Sales and Use Tax

As a part of CPA Practice Advisor's ongoing series, "A Year in the Life of a SALT Accountant," Dallas-based Peisner Johnson LLP offered some key advice to accountants and their small business clients when it comes to activities that can cause them to be exposed to unexpected sales and use taxes in jurisdictions where they…

 Should Your Clients Join the Rush to Roth IRAs?

June 27, 2014 

Should Your Clients Join the Rush to Roth IRAs?

Although it’s been almost five years since the floodgates were opened, we’re still seeing a steady stream of conversions to Roth IRAs. As long as Congress doesn’t clamp down on the rules, you can expect for this trend to continue.

Ken Berry, JD

avalara

June 27, 2014 

Virginia Society of CPAs Partners with Avalara

Avalara and the Virginia Society of Certified Public Accountants have reached an agreement where VSCPA members will have unlimited access to up-to-date sales and use tax rules, rates, forms, and related reference resources, to better assist their clients, and/or their employers, in complying with a rapidly changing and complex regulatory environment.

Isaac M. O'Bannon

logo_smartvault_2012

June 26, 2014 

Intuit Signs with SmartVault to Provide Document Management for ProSeries and Lacerte

Small business accounting and tax company Intuit has partnered with cloud document storage and sharing firm SmartVault, which will provide integrated cloud-based document management for Intuit's two professional tax systems, Lacerte and ProSeries. The combination of these professional programs is intended to further automate tax preparation workflow, from receiving source files securely from clients to…

Isaac M. O'Bannon