Infographic: Mapping a path forward after Wayfair

CPAs should educate themselves and their clients on the current nexus standard for sales taxes.
Compiled by Deborah K. Rood, CPA

Why is the Wayfair case important?

The U.S. Supreme Court in South Dakota v. Wayfair, Inc., 138 S. Ct. 2080 (2018), eliminated the physical presence requirement for states to require businesses to collect and remit state sales tax. It established economic nexus as the sales tax nexus standard. CPAs may face professional liability claims if clients fail to collect and remit state sales tax properly.

CLICK HERE to download the infographic

Where to find January’s flipbook issue

Starting this month, all Association magazines — the Journal of Accountancy, The Tax Adviser, and FM magazine (coming in February) — are completely digital. Read more about the change and get tips on how to access the new flipbook digital issues.

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Get your clients ready for tax season

Upon its enactment in March, the American Rescue Plan Act (ARPA) introduced many new tax changes, some of which retroactively affected 2020 returns. Making the right moves now can help you mitigate any surprises heading into 2022.