Nexus

The recent debate over the so-called “Amazon tax”, while obviously about what its name would suggest, mainly the power of states to tax online retailers like Amazon, is really a debate about nexus.  Nexus means all the connections between a taxpayer, whether a person or a corporation, and a political jurisdiction–a state in this case.…

Taxes for non-residents

The tax landscape in Illinois has changed over the last few months.  Income taxes for individuals and for corporations have increased, and the newly passed affiliate tax (otherwise known as the “Amazon Tax”) has added a new set of rules to consider.  This has gotten people wondering if it wouldn’t make sense to change the…

One step closer to 1099 repeal

Two laws passed during the last Congress, the Patient Protection and Affordable Care Act and the Small Business Jobs Act of 2010 expanded or increased the reporting requirements for Form 1099, a form used to report income paid to contractors.  Last month the House passed H.R. 4, a bill that would repeal both sets of increased requirements.…

Illinois Department of Labor Audits

The word audit has unrivaled power to inspire dread.  Something about the process of a scrutinizing review of our finances and other dealings causes us to feel nervous.  IRS and IDOR are the bureaucratic bodies we most expect to be the initializers of an audit, both for tax reasons.  But the Illinois Department of Labor (IDOL) conducts audits as well. IDOL…