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Click-Through Nexus after Wayfair, IRS Letter CP3219A: Statutory Notice of Deficiency, and more

by MICPA | Jul 10, 2018   ()

Just the Beginning: Click-Through Nexus after Wayfair

In the past, “substantial nexus” meant that a business must have a physical presence within a state. However, the Supreme Court’s recent Wayfair decision held that businesses without a physical presence in a particular state may be subject to sales tax as a result of making sales into that state. What about states that require businesses to remit sales tax based on a “click-through nexus” statute?

Note: this is the third in a series of articles prepared for MICPA members from state tax experts at Foster Swift Collins & Smith that examine the far-reaching impact of the Wayfair decision.
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IRS Letter CP3219A: Statutory Notice of Deficiency
What do you do when your client receives a CP3219A statutory notice of deficiency from the IRS? Find out in this new IRS YouTube video.
Watch Now

8 Tips for Preventing Phishing Scams and Data Breaches
Cybercriminals’ tactics have been evolving in recent years to focus on accounting and tax firms where there is an abundance of client data. The clear majority of thefts occur when someone at the firm opens a phishing email and clicks on a link or attachment that contains malware. Some malware downloads secretly into computers and allows thieves to covertly capture each keystroke or gain remote access to the computer, allowing them to steal the data stored there. In addition to recommended IRS procedures, CAMICO offers eight tips for practitioners.
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Last Week to Participate in National MAP Survey
All MICPA member firms are invited to complete the new, streamlined National Management of an Accounting Practice (MAP) survey, which closes on July 16. All participants receive a report with strategic insights to help build a more profitable and rewarding practice. Visit www.aicpapcpsmapsurvey.com.
MAP Survey

Is State Legislation Endangering the CPA License?
The regulatory environment around the country is causing concern among CPAs who are keeping a close watch on state legislation that might affect CPA licensure. This Journal of Accountancy podcast looks at the current climate across the country for regulated professions and explains what happened to make state legislatures focus so much on occupational licenses.
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GAO Looks at the Nation’s Fiscal Future
Absent a change in policy, says the Government Accountability Office (GAO), the federal government’s fiscal path is unsustainable—debt is growing faster than the economy (GDP). This springs from the continuing gap between the amount of money the government collects in revenue and the amount it spends—i.e., the federal deficit. The GAO recently issued an update on the government’s fiscal condition—and its likely fiscal future if policies don’t change.
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How CPAs Can Future-Proof Their Careers
To remain relevant during the age of disruption, CPAs need to keep up with rapid, constant, multidimensional change. This article from the Association of International Professional Accountants outlines three ways to future-proof your careers. 
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Source: MICPA
Source: MICPA

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