Knowledge Center

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 Center
1120 East Diehl Road
Naperville, IL 60563

Sales and Use Tax in Illinois: Avoid Costly Penalties and Back Taxes

Breen Schiller, a member of Horwood Marcus & Berk's State & Local Tax Practice, will present "Reviewing Recent Developments" in the morning and cover the following topics:

  • Constitutional Basis for Impositions of Sales/UseTax, State/Federal
  • 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 the following:

  • 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 Analysis
  • 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 liable. Register today!

  • 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 your taxes.
  • 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 exemptions.
  • 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.

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