Tuesday, August 12, 2014
HMB's Breen Schiller to Speak at NBI Seminar
Sept. 11, 2014, 8:30 AM - 4:40 PM
NIU Naperville Conference
1120 East Diehl Road
Naperville, IL 60563
Sales and Use Tax in Illinois: Avoid Costly Penalties and Back
Schiller, a member of Horwood Marcus & Berk's
State & Local Tax Practice, will present
"Reviewing Recent Developments" in the morning and cover the
- Constitutional Basis for Impositions of Sales/UseTax,
- The Streamlined Sales Tax Project
- The Marketplace Fairness Act
- How to Keep Up with Changing Obligations
Next, Breen will present "Clarifying Nexus Confusion," and cover
- State Statue, Regulations or Case Law
- "Red Herrings" in the Sales/Use Tax Nexus Analysis
- Quill Corp. v. North Dakota Interpretations
- Geoffrey, Inc. v. Commissioner of Revenue
- Judicial Interpretations of "Solicitation"
- Statutory vs. Consititutional Nexus Clarified
- Economic Presence vs. Physical Presence
- Independent Contractors Issues
- Nexus Checklist
Know the Latest
Compliance Requirements and Developments -
Accounting for sales and use taxes
can be one of the most complicated and frustrating tasks
accountants and lawyers tackle. States are cracking down on these
taxes and yet the laws and definitions are as ambiguous as ever.
Interstate and e-commerce sales are the norm
today, but do you know exactly which transactions require taxing
and reporting to the Department of Revenue and
IRS? Don't just hope your clients stay under the
government's radar; proactively ensure you are complying with the
myriad of regulations. This seminar will bring you up to date on
best practices when accounting for sales and use tax. Learn how to
decipher whether or not a business has nexus in a state and
identify what products and sales are exempt from sales tax; legally
report tax information and resolve tax disputes. Back taxes and
penalties can be costly for any business - don't leave your clients
- Understand the latest federal and state developments regarding
sales and use tax enforcement.
- Review how interstate and e-commerce sales
have complicated reporting requirements.
- Be able to confidently identify when your business has
nexus in a state.
- Review how physical presence and economic presence can impact
- Know the unique filing requirements for your state.
- Avoid common record-keeping errors that can be costly for your
business to remedy.
- Recognize why and how to claim tax
- Avoid expensive penalties or criminal charges associated with
default or fraudulent reporting.
- Understand how large sales or transfers of businesses can
impact your taxes.
This basic-to-intermediate level
program is essential for accountants, attorneys, financial
officers, controllers, business and tax advisors, enrolled agents
and business owners who are interested in understanding the impact
of sales and use taxes on them or their client's business.