Objective
- Identify key tax due dates by entity type
- Recognize how late filing, late payment, and other common penalties are calculated
- Recall common information return due dates and applicable penalties
- State first time abatement relief qualifications and other common remedies
- State what the term nexus means and how it differs for sales tax and income tax reporting obligations
- Recognize economic nexus and when it applies
- Identify when a company has to file an income tax return or sales tax return
Highlights
- Estimated taxes and deadlines
- Tax due dates for common returns and filings
- Potential penalties and interest
- Information return penalties
- Penalties applicable to pass-through entities
- Accuracy-related penalties
- First-time abatement (FTA)
- FTA eligible returns
- Reasonable cause
- Nexus: sales tax vs. income tax
- Sales tax nexus with state specific examples
- Remote work and sales tax nexus
- Income tax nexus with state-specific examples
- Remote work and income tax nexus
- Sales factor: throwback rules
Designed For
Accounting and finance professionals who work with business owners on multistate tax issues, small business owners working in multiple states, and other accountants looking to serve their companies or clients in the areas of payroll services or operationsPrerequisite
NoneAdvanced Preparation
None