Senators Propose Tax Nexus Bill

A bipartisan proposal introduced by two members of the Senate Finance Com­mittee would establish a so-called bright-line standard for state business activity tax nexus. Sens. Charles E. Schumer, D-N.Y., and Mike Crapo, R-Idaho, introduced the proposal in the Business Activity Tax Simplification Act of 2007 on June 28.

The law would codify the physical presence standard—such as the presence of employees or property—for a state to impose corporate income or business activity taxes. Currently, the physical presence nexus standard is most clearly applied to the imposition of sales and use taxes. The bill, S 1726, is available at


Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.