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Virginia And West Virginia State Sales And Use Tax

Aaron Giles

Virginia State Sales And Use Tax

The state of Virginia levies a 4.3% state sales tax on the retail sale, lease or rental of most goods and some services. All local jurisdictions impose additional sales taxes of 1% to 1.7%, therefore the total sales tax rate within the state of Virginia could be as high as 6%.

Use tax is also collected on the consumption, use or storage of goods in Virginia if sales tax was not paid on the purchase of the goods. The use tax rate is the same as the sales tax rate. Returns are to be filed on or before the 20th day of the month following the month in which the purchases were made. For example, purchases made in the month of January should be reported to the state of Virginia on or before the 20th day of February.

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IRS Selects Nine New Members For The Electronic Tax Administration Advisory Committee

IRS Notice

The Internal Revenue Service has selected nine new members for the Electronic Tax Administration Advisory Committee (ETAAC).

Established in 1998, the ETAAC is a public forum for the discussion of issues in electronic tax administration. Its aim is to prevent identity theft and refund fraud in support of paperless filing of tax and information returns. ETAAC members work closely with the Security Summit, a joint effort of the IRS, state tax administrators and the nation’s tax industry to fight identity theft and refund fraud.

Committee members include state tax officials, consumer advocates, cybersecurity and information security specialists, tax preparers, tax software developers and representatives of the payroll and financial communities.

The following individuals have been appointed to serve three-year terms on the committee beginning in September 2019:

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Award Winning Tax Calendar Saves Time And Money For Tax Professionals In Corporations And Tax Practices

Tax Calendar

The very best way to leverage your valuable time is by preparing your Tax Calendar for the upcoming year. We took a tour of an amazing Tax Calendar this year and were impressed by what we learned. We highly recommend you take the same tour to see why this new Tax Calendar is the best way to leverage your time in your tax practice. It does not cost you anything to take a tour but it will certainly cost you a lot of time and money if you do not learn about a time leveraging, time saving, easy to use tax calendar like this one. The tax professionals who have taken our suggestion to get their tax professional lives in order are happy they listened, viewed this Tax Calendar and learned how to best leverage their tax practice.

Go to this link to request a tour of the Akore Tax Calendar.

How Does The Solar Tax Credit Program Work?

Michael Korengold

The Solar Tax Credit program, like other federally-sponsored tax credit programs, is a government sponsored initiative designed to encourage taxpayers to help finance solar projects.

Tax credits provide a dollar-for-dollar reduction of a taxpayer’s income tax liability by repurposing tax payment reserves into qualifying tax credit projects.

By  investing in a qualified project, the tax credit investor receives tax credits, project cash flows and an exit payment.

Tax credit investors take primarily program compliance risk (as opposed to underlying performance risk) and generate a return on the funds they otherwise would have used to satisfy their tax liabilities.

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A Great Way To Stay Motivated And Inspired

Be Happy

There are amazing professionals in the world who inspire us. Four time gold medalist track and field star Jesse Owens stated:

Find the good. It’s all around you. Find it, showcase it and you’ll start believing in it.

Also, remember the words of these inspirational leaders:

“Be kind whenever possible.It is always possible.”
~ Dalai Lama

“Victory belongs to the most persevering.”
~ Albert Einstein, Theoretical Physicist

“Believe you can and you are halfway there.”
~ Theodore Roosevelt, 26th U.S. President

“Strength does not come from physical capacity. It comes from indomitable will.”
~ Mahatma Gandhi

“An investment in knowledge pays the best interest.”
~ Benjamin Franklin, Inventor, Author, Politician

“The person who says it cannot be done should not interrupt the person who is doing it.”
~ Chinese Proverb

Request Our Complimentary eBook Of 250+ Inspirations


Utah And Vermont State Sales And Use Tax

Aaron Giles

The state of Utah levies a 4.65% state sales tax on the retail sale, lease or rental of most goods and some services. Local jurisdictions impose additional sales taxes ranging between 1.3% and 3.4%. The range of total sales tax rates within the state of Utah is between 5.9% and 8.1%.

Use tax is also collected on the consumption, use or storage of goods in Utah if sales tax was not paid on the purchase of the goods. The use tax rate is the same as the sales tax rate. Returns are to be filed on or before the last day of the month following the month in which the purchases were made. For example, purchases made in the month of January should be reported to the state of Utah on or before the last day of February.

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How To Appeal When You Are Denied CNC Status?

Venar Ayar How To Appeal To IRS

Currently Not Collectible (CNC) status can provide you with temporary relief from tax debt collection efforts by the IRS. However, if you applied for but were denied CNC status, all hope is not lost, as you have the option to appeal this ruling. A tax attorney can be a great ally during this process as appeals are often complex and can take months to complete.

When the IRS first initiates a collection action on your tax debt, such as in the form of a tax lien or a levy on your bank account, you have the option of trying to stop it through an appeal. Appealing a CNC determination is a very similar process.  In addition to requesting review of collection actions, you may ask the IRS to review your CNC determination. You may request a Collection Due Process (CDP) hearing, or pursue the Collection Appeals Program (CAP). You might choose the CAP process because it is faster, but bear in mind that the decision is final and cannot be reviewed by the Tax Court.

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Complimentary eBooks Provide Valuable Resources For You

FREE eBooks For Tax Professionals

We know you are busy and want to guide you to a very special page we made just for you. We often receive requests for this information and want to make certain you can access and receive these valuable resources.

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Click On This Link To Access As Many Reports As You Like


How Does Economic Nexus Apply To More Than Just Sales Tax?

Monika Miles

Last year’s Wayfair v. South Dakota decision changed the way states define nexus for sales tax purposes. In the past, a business needed to establish physical presence, but the Supreme Court’s decision set precedent for states to establish economic nexus parameters, thereby mandating a certain percentage of sales made within the state are subject to sales tax.

However, it’s important to note that economic nexus doesn’t only affect sales tax. If your company conducts a certain amount of business within the state, it may also be responsible for collecting and remitting all applicable taxes, not just sales tax.

AccountingWeb does a terrific job explaining the following ways states and cities are applying economic nexus to their jurisdiction. Note that some are not necessarily new, but more states ARE considering economic nexus in areas beyond sales tax. Here’s a quick summary to get you started.

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How Could The IRS Find Out That I Am Not Tax Compliant As An Expat?

Olivier Wagner

You’re living your adventure and you’re settled in your new home, having non-US bank accounts, a non-US employer and a non-US social life. You have limited ties with the US and since the people who pay you (banks, employer) are not in touch with the IRS, you consider simply not filing US tax return. What could go wrong?

As you might know, on some level… US citizens are required to report their worldwide income on a US tax return, regardless of where they live.

Think AGAIN…

IRS has a few proven ways they use to track people down.

Below you will find the most common ways that IRS can track you down and check if you filed your US tax return, no matter where you live in the World.

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Learn How To Clear Your Cache – Cell Phone And Computer

Clear Cache

We want to make certain you have a fresh view of Virtual Offices in the cloud on your cell phone. Our wonderful IT Team reminded us to tell people to clear their cell phone browsers. For those of you who may not be familiar with what you need top do to clear your desktop or cell phone browser cache, we will give you an important lesson today.

You need to clear your browser cache on your cell phone and computer because it prevents you from using old forms, it helps run applications better, and it protects your personal information. Clear your cache is the first response tech experts advise you to do when you encounter webpage problems.

The browser cache exists because of a basic assumption made by browser designers: the internet is slow. It is always much faster to get something from the hard disk on your computer than it is to get it from the internet. Browser designers noticed that most websites have many of the same elements on multiple pages. For example, if you see a company logo at the top of every page of a website, why download the same logo over and over again on every page you look at? Why not just download it once and then keep a copy so we can display it again without downloading it every time to your desktop computer or cell phone?

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2 Million Individual Taxpayer Identification Numbers Set To Expire In 2019


Taxpayers with expiring Individual Taxpayer Identification Numbers (ITINs) can get their ITINs renewed more quickly and avoid refund delays next year by submitting their renewal    application soon, the Internal Revenue Service said today.

An ITIN is a tax ID number used by taxpayers who don’t qualify to get a Social Security number. Any ITIN with middle digits 83, 84, 85, 86 or 87 will expire at the end of this year. In addition, any ITIN not used on a tax return in the past three years will expire. As a reminder, ITINs with middle digits 70 through 82 that expired in 2016, 2017 or 2018 can also be renewed.

The IRS urges anyone affected to file a complete renewal application, Form W-7, Application for IRS Individual Taxpayer Identification Number, as soon as possible. Be sure to include all required ID and residency documents. Failure to do so will delay processing until the IRS receives these documents. With nearly 2 million taxpayer households impacted, applying now will help avoid the rush as well as refund and processing delays in 2020.

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