Local firm management news from around the web: July 31 – August 4, 2017

Written on Jul 31, 2017

Resources, rules pose challenge to multistate taxation compliance
Determining how to track employees across state lines and keeping up to date on taxation requirements that differ by state, strain employer resources and make perfect multistate taxation compliance challenging.

Think a data breach can’t happen to you? Think again… “Don’t Take the Bait.”
Tax professionals increasingly are targets of national and international cybercriminal syndicates. The IRS has launched a 10-week “Don’t take the Bait” campaign detailing specific scam tactics and how to counter them. Read the first installment and learn how to avoid phishing scams.

IRS audit: Taxpayers claim $145,000 income tax deduction for donations to Goodwill
Although taxpayers can claim valuable income tax write-offs for gifts of property to charity, they should not get greedy. If a taxpayer doesn’t have the proper records to back up the claims, most or all of the deduction may be denied.

Due dates for returns of foreign corporations
Tax practitioners should be aware that foreign corporations' tax returns might have different due dates, depending on whether the corporation has an office or a place of business in the US. Take a look at each these situations and how to get extensions of time to file.

Tech Corner - Building a data-driven culture starts with the team
Being a data-driven organization is an ongoing process -- you need to invest in the right team, infrastructure, software, and processes that can promote lasting change.

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