Surgent's Exploring Client Advisory Services: Tax Due Dates and Penalties/Where Do I Need To File?
2.00 Credits
Member Price $99
Non-Member Price $119
Overview
This course provides essential knowledge for Client Advisory Services (CAS) professionals navigating multistate taxation and managing tax deadlines. We’ll start by exploring the implications of the Wayfair decision, focusing on general rules for sales and income tax nexus across states. You’ll learn what to look for in state statutes and gain a solid foundation for filing requirements. Additionally, we’ll cover key tax due dates, how to handle missed deadlines, and potential relief options. Whether you’re new to the field or running your own practice, this course will equip you with the tools to succeed.
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
Prerequisites
None
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 operations
Objectives
- 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
Preparation
None
Leader(s):
Leader Bios
David Peters, CPA Crossings, LLC Two Commerce Square
David R. Peters, CPA, CFP, CPCU, MST, MBA Peters Tax Preparation & Consulting, Richmond, VA & Rock Hill, SC David Peters is an independent tax preparer for Peters Tax Preparation & Consulting, and a financial advisor and outside representative for Carroll Financial Associates. He has over fourteen years of experience in financial services, including three years in the hedge fund industry and six years in the insurance industry. David was the first-ever Chief Financial Officer of Compare.com, an insurance price comparison company - a position he held for over three years. He was also instrumental in the early success of Elephant Auto Insurance, a six state auto insurance carrier, located in Glen Allen, VA. He holds four masters degrees, and is currently pursuing his PhD in Financial Planning. He regularly teaches courses in accounting, finance, insurance, financial planning, and ethics in Virginia, North Carolina, and South Carolina. He is an Adjunct Professor in Finance and Accounting at Winthrop University in Rock Hill, SC, and teaches regularly for Kaplan Test Preparation. He contributes regularly to various CPA publications, including NCACPA’s Interim Report, SCACPA’s CPA Report, and VSCPA’s Disclosures.
Non-Member Price $119
Member Price $99