Tax & Accounting Blog

IRS discontinues tiered audit issue rankings

IRS discontinues tiered audit issue rankings

Since 2006, the IRS has used Tiered Issue rankings to set priorities for tax examinations and enforcement in tax areas that it believed posed the highest challenges in compliance or the abuse of tax law.  Now, however, the tiered issue process is being replaced with what the IRS Large Business and International division is calling … Read More

Small Business Owners Appreciate the Second Amendment Sales Tax Holiday

Small Business Owners Appreciate the Second Amendment Sales Tax Holiday

Business was booming at several hunting supply and gun stores throughout Louisiana this weekend. This boom can be largely explained by a sales tax exemption on hunting goods, like shotguns, rifles, ammunition and hunting accessories just before hunting season. Local business owners and managers, like Tara Harris, store director of Academy Sports & Outdoors have given … Read More

YOUR QUESTIONS ANSWERED #3: SIC CODES AND THE INHERENT RISKS OF CONDUCTING IP ANALYSIS

YOUR QUESTIONS ANSWERED #3: SIC CODES AND THE INHERENT RISKS OF CONDUCTING IP ANALYSIS

For the third week, we’re addressing FAQs from our recent webcast “SIC Codes: Inherent Risks When Conducting IP Analyses.”  So far, we’ve responded to questions that came in from leaders such as licensing filing from the US SEC and why analysts still use SIC codes.  This week, we’d like to share another frequently asked questions on the complex topic of SIC Codes. … Read More