Sales Tax Economic Nexus Applies to All Businesses, Not Just E-Commerce

In last summer’s landmark decision of South Dakota v. Wayfair, Inc. (“Wayfair”), the US Supreme Court upheld South Dakota’s economic nexus law, which requires companies to collect sales tax when their sales or number of transactions with that state exceed certain thresholds.

IRS Shutdown Information

As you may have heard, the Federal Government partially shut down on December 22, 2018 due to a budget impasse between the current administration and Congress.  This shutdown includes the Internal Revenue Service (IRS).

James Pickett Discusses IRS Notices in Construction Executive

In an article published recently in Construction Executive and its CE Weekly newsletter, James Pickett explains what taxpayers should do when dealing with various IRS notices. Pickett emphasizes that taxpayers and their representatives should carefully reach each piece of mail that the IRS sends and to never ignore correspondence.

Peter Stathopoulos Featured in Oz Magazine

In a recent article Peter Stathopoulos discusses the state of Georgia’s film industry. Thanks to tax incentives, filming continues to grow across the state, but opportunity exists for the state to invest in content creation, as investment for the booming production business, however, still flows primarily from New York or L.A.

Brian Sengson Shares Insights on Wayfair Ruling in Law360

In an article recently published in Law360, state and local tax attorney Brian Sengson discusses how technology companies will continue to face expanded sales tax nexus as states adopt economic nexus law. Companies, particularly technology companies, should not take the Wayfair ruling lightly.

Top 5 Impacts of ASC 606 on Manufacturing Companies

As private companies are gearing up for the implementation of Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers, many are wondering how this guidance will impact the manufacturing industry. For privately‐held entities, ASC 606 applies for annual periods beginning after December 15, 2018 (2019 will be the first year for December year‐ends).

IRS Gives Taxpayers A Break on Meal Deductions

On October 3, 2018, the IRS issued Notice 2018-76 confirming that certain business meals will continue to be deductible, subject to the 50% limitation. As background, the Tax Cuts and Jobs Act (“TCJA”) of December 2017 eliminated the deduction for entertainment expenses effective January 1, 2018, creating uncertainty whether client business meals would be treated as a form of nondeductible entertainment.

IRS Issues New Roadmap for Transfer Pricing Examinations

On June 29, 2018, the Internal Revenue Service (“IRS”) released Publication 5300 (06‑2018), Transfer Pricing Examination Process (“TPEP”), a 37-page document intended to guide IRS agents in the planning, execution and resolution of transfer pricing examinations (“TP Audits”).

Qualifying ERP Implementation for the R&D Tax Credit

Enterprise Resource Planning (“ERP”) has become an integral component of the manufacturing process as it can provide insight on vendor management, product logistics and server integration. Taxpayers may be able to qualify time for the R&D tax credit associated with developing and integrating the ERP system depending on whether it is developed primarily for internal or external use

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