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.

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SPONSORED REPORT

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.

100th ANNIVERSARY

Black CPA Centennial, 1921–2021

With 2021 marking the 100th anniversary of the first Black licensed CPA in the United States, a yearlong campaign kicked off to recognize the nation’s Black CPAs and encourage greater progress in diversity, inclusion, and equity in the CPA profession.