Local Sales Tax Requirements for Minnesota Sellers

Make sure you meet updated local sales tax requirements for Minnesota sellers

Experienced Small Business Accountant - If you make sales into local jurisdictions that have local sales taxes, you must now collect those taxes. This may require you to register, collect, and remit additional local taxes.

Why is this changing now?

On June 21, 2018, the U.S. Supreme Court ruled in South Dakota v. Wayfair that physical presence is not required for sellers to be responsible for sales tax collection. Now all Minnesota sellers – regardless of their location – must collect state and local sales taxes based on the location of their customer.

I am currently	What do I need to do?
Collecting local sales taxes because I have a physical presence or chose to voluntarily collect	Continue to collect these local taxes
Collecting local sales taxes, but only in the areas I am physically present	Register and collect any local sales taxes on sales you make into local taxing areas where you are not physically present
Not collecting any local sales taxes	Register and collect any local taxes where you make sales into local taxing areas

What does this mean for me?
You must collect local tax even if you don’t have a physical presence in a local taxing area. 

If you would like to discuss how these affects your particular situation, and any planning moves you should consider in light of them, please give me a call.

Amare Berhie, Senior Accountant           

CEO, ABA Tax Accounting

CFO Services http://youtu.be/EYJdQtbPZAI

http://abataxaccounting.com/salestaxproblem.php

amare@abataxaccounting.com   

(651) 300-4777

Non-Filed Tax Returns

Non-Filed Tax Returns - http://abataxaccounting.com/nonfiledreturns.php

IRS Audit Representation – Every day the massive computer center at the IRS is getting more sophisticated, it's just a matter of time before they catch up with you.

This is not a situation to take lightly, failing to file your tax returns is a criminal offense. If you do not file, you can be prosecuted and punished with potential jail time, one year for each year not filed. Why risk potentially losing your freedom for failing to file your tax returns?

Let us give you the peace of mind you deserve by helping you get in compliance with the law. If you voluntarily file your delinquent returns you'll likely avoid further problems other than having to pay the interest and penalties.

If you wait for the IRS to file your returns for you, they are filed in the best interest of the government, usually with little or none of the deductions you are entitled to.

Before anything can be done to extract you from this predicament all the returns must be filed. You must be current. In most cases, you will likely owe taxes, interest, and penalties after the returns are filed. Once we see how much is owed, we'll set a course of action to get you off the hook!

Please feel free to contact me today to receive a Free Consultation.

Amare Berhie, Senior Accountant           

CEO, ABA Tax Accounting

CFO Services http://youtu.be/EYJdQtbPZAI

http://abataxaccounting.com/nonfiledreturns.php

amare@abataxaccounting.com   

(651) 300-4777

Have you received an IRS audit notification? http://abataxaccounting.com/irsrepresentation.php

IRS Audit Representation

Experienced Tax Accountant – Nothing strikes fear in the hearts of people more than receiving an IRS Audit letter in the mail. Audits take significant time away from your business and family, requiring you to gather mounds of records substantiating each and every item reported on your tax return and develop a comprehensive understanding of tax law.

The IRS leaves no stone unturned in its mission to determine the accuracy of your tax return. If you don't comply with the Auditors' wishes, the IRS will recalculate your tax and send you home with a hefty tax bill as your parting gift.

Many taxpayers decide to handle a tax audit themselves, and discover they may have been "penny wise," avoiding a representative's fee, but "pound foolish," because they received a substantial bill for a significant tax deficiency.

You see, IRS Auditors are trained to extract more information from you than you have a legal obligation to provide. IRS Auditors know that most people fear them and are ignorant of their rights. As a result, they know they can use that fear and ignorance to their advantage.

Rarely do our clients even have to talk with the IRS. We handle it all for you so that you need not take time off of your business or job to handle the bureaucracy and paperwork of the IRS. No lost wages or business. You simply forward notification of an audit to us and we handle it from A to Z.

If you've received an audit notice from the IRS, please feel free to contact us today to receive a Free Consultation with our tax specialist.

Amare Berhie, Senior Accountant           

CEO, ABA Tax Accounting

CFO Services http://youtu.be/EYJdQtbPZAI

http://abataxaccounting.com/irsrepresentation.php

amare@abataxaccounting.com   

(651) 300-4777