by Controllers Council | Dec 14, 2020 | Audit, Tax
It’s rare to see the IRS announce something that benefits taxpayers, but it’s 2020—weirder things have happened. In a recent notice, Notice 2020-75, the IRS announced an important lifeline for partnerships and S-corps allowing these entities to deduct state and local...
by Controllers Council | Dec 11, 2020 | Tax
2020 is mercifully about to come to an end. Though we won’t be out of the woods entirely, we can soon say that we’ve survived the year that was and forge ahead. But with the end of each year comes the expiration of some provisions that, unless otherwise extended, will...
by Controllers Council | Dec 8, 2020 | Tax
You already know the importance of tax compliance. But equally important to the work you’re doing in March is the work you’re doing at the end of the calendar year. 1099 season is upon us and much like the rest of 2020, it’s a bit more challenging than in years past....
by Controllers Council | Nov 30, 2020 | Tax
Tax filing for 2020 will likely be more… interesting than normal. But after the year that was 2020—complete with a pandemic, recession, and election—what else would you expect? For those in the accounting and corporate finance space, added intrigue means added...
by Controllers Council | Nov 16, 2020 | Tax
Nexus refers to a state’s ability to collect from companies. A core part of the Wayfair decision, online sellers have needed to react to the 2018 decision quickly, as states began enforcing the law quickly. But 2020 may add more challenges to the way nexus is...
by Controllers Council | Nov 16, 2020 | Tax
Wayfair continues to impact the way online sellers operate. Calculation is a challenge, collection is a challenge, and planning is a challenge. Another challenge? Finding out whether you even need to do so for each state in the first place. Sales tax nexus is...
