Divakar Vijayasarathy: Breaking Barriers and Scaling Success | The Concierge CPA
“Every problem looks big from a distance, and every opportunity looks small.”
The Concierge CPA
With Jackie Meyer
For CPA Trendlines
INTERNATIONAL
Your Sales Tax Headaches Are Only Just Beginning
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With Rick Telberg
For CPA Trendlines
The changes wrought by COVID are rolling through the business world, pushing many of them into online commerce and cross-border sales and, ultimately, into new and nforeseen tax problems, according to Liz Armbruester, senior VP of global compliance at Avalara.
MORE: Six Fixable Problems at the IRS | IRS under COVID: Heroes or Goats? | IRS Loves e-Filing. So Why the Barriers? | Two Big (and Obvious) Ways IRS Could Work with Practitioners | Eight Ways to Charm a Client | Plug Small Leaks Before They Become Big Floods | You’re Only as Good as Your Last Screw-Up | Four Issues with ‘Quick’ Tax Questions | When to Pick Up the Phone This Tax Season | These Five Procedures Will Simplify Your Tax Season | 11 Steps to Better Client Tax Instructions
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From her perch, see tracks how governments at all levels and across the globe are capitalizing on the rapidly digitizing business world to automatically collect taxes due. In the U.S., states and localities are gearing up to crack down on the new sources of revenues, leaving many businesses and their accountants still ill-equipped to handle the new rules, Armbruester tells Rick Telberg for CPA Trendlines.
When Tax Collectors Go Digital
…Where will you hide?
By CPA Trendlines
Accounting professionals may be focused for now on Tax Season 2022. But right around the corner, a revolution in tax is coming, if the United States can get out of its own way.
Ready or not, here it comes: digitized sales tax compliance. The compliance might happen immediately after a transaction or right in the middle of it with a tax agency in between the buyer and the seller.
MORE: Brain Drain Hobbles IRS | Crisis at the IRS | The IRS’s 10 Biggest Problems | Fear and Loathing for Tax Season ’22 | Padar Joins VC-Backed Tax Fintech for Banks | COVID Chokes an Already Crippled IRS | Tax Regs for the Metaverse | 10 Steps to a Superior Tax Department | Accountants Critical of Competitor Price-Cutting | Automate Busy Season with Apps You Already Use | Sales & Use Tax Costs Are Higher than Anyone Thought | Survey: Nobody Loves the Wayfair Decision | Busy Season Forecast: More Chaos | A Woman Named Wanda Leaves an IRA Nightmare | Are You Under-Pricing Your Client Accounting Services? | Your Best Advice: Get Smart, Get Tech, Get Moving | Worries for Small Business Clients |
- More in Tax Season here | More in Research & Surveys here | More in the CPA Trendlines Shop here
It isn’t happening in the U.S. yet, but at least three states are thinking about it, and in 83 other countries, it’s already a thing. In California, Florida, and Massachusetts, it may soon be a thing. The Federal Reserve and the Business Payments Coalition have already launched a pilot program to standardize electronic invoicing systems.
Digitized tax compliance is far more than the mere e-filing of invoices and tax returns. It’s the movement of paper compliance activities to the cloud, where tax authorities can not only see transactions but, in some countries, actually, get involved in them.
The potential opportunities for accountants, auditors, and tax practitioners are as yet unknown, but where there is change, there is opportunity.
Also, danger. READ MORE →
MGI and CPAAI to Merge
CPA firm associations combine 250 firms with $1 billion in revenues.
CPA Trendlines
MGI Worldwide, a global network of independent audit, tax, accounting, and advisory firms, headquartered in the U.K., and CPA Associates International, headquartered in the U.S., have announced that they will merge, effective Jan. 1, 2020.
2019: Buckle Up for a Bumpy Road
Global trade wars, political winds buffet business.
By Kayleigh Padar
CPA Trendlines
CPAs should be prepared to help their clients navigate an increasingly unstable global economy and burgeoning challenges with technology, particularly cyber threats, according to a new global study of C-level executives.
MORE SURVEYS & RESEARCH: Jobs Report: 43,000 New Hires | CPA Wealth Advisor Survey | Survey: Clients Rush for TCJA Answers | Join the Accounting Firm and Operations Technology Survey | Mergers vs. Clients: Winners and Losers |
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The annual study from ATKearney shows a bumpy road ahead for global executives, from the effects of Brexit to the increase in targeted fake news campaigns. READ MORE →