State and federal tax laws are inherently complex; as you prepare for the upcoming tax season, having the accurate and relevant information you need in one easy-to-find place can help you better navigate this complexity.
Whether you’re looking for filing alternatives available to foreign nationals during their first year of residency in the United States or you need a refresher on state tax nexus, AICPA® practice guides, through the AICPA Tax Section’s Annual Tax Compliance Kit, can streamline your research and help you easily find the tax information you need. These resources detail specific, targeted topics and processes and include relevant guidance, recent developments, best practices and recommendations designed for practitioners at all career levels.
Simplify your research and apply tools to save time
The State and Local Tax (SALT) Roadmap is an interactive map that simplifies state tax research with quick reference information on various state tax topics. Navigate through the states on the map to locate taxes imposed, tax rates, due dates, state tax forms and so much more.
The State Tax Nexus Guide broadly covers nexus; different nexus categories like franchise, sales and use or income tax; and different considerations tax practitioners may need to make when dealing with state nexus issues. Then, use the State Tax Nexus Checklistto run through considerations when evaluating jurisdictions where business is conducted to ensure you have evaluated the potential state tax obligations.
Companies are required by the IRS to provide information on their returns regarding the use of company-provided vehicles. When filing taxes on behalf of an employer, consult the Vehicle Policy and Income Inclusion Guide for policy-making tips and calculation worksheets regarding the use of company vehicles. This guide also includes a handy worksheet to calculate inclusion amounts for lessees of luxury vehicles.
Tax law is even more complex for foreign nationals, requiring different methodologies for filing individual income tax returns. As you assist these clients, reference the Foreign National Income Tax Filing Options Flowchart, which details the different filing alternatives available.
Confidently manage your tax season workflow
The practice guides are among the reliable resources in the Tax Section’s Annual Tax Compliance Kit. This set of tools can help you handle your tax season workflow with engagement letters, client organizers, checklists and practice guides — all available to Tax Section members.
Before you begin work for a client, detail the scope of services to be provided in an engagement letter. These extensive, detail-oriented legal documents help manage expectations about the working relationship. There are 17 templates for the most familiar tax returns — individual, partnership, S corporation, estate and more — and other letters for engagements like consulting or projections.
Clients may begin to feel stressed or overwhelmed as they gather information and documents for you. Along with the engagement letter, give your client a client organizer. An organizer prompts the client to think thoroughly about their tax filing circumstances and helps them assemble their forms and information prior to you starting, so you won’t need to waste time chasing down any missing information later.
Once your client’s return is ready for submission, run through a review with a tax return checklist to optimize your tax compliance processes. A thorough check over your client’s return ensures accuracy and completeness in the tax engagement.
When you use various tools to keep you and your client organized, you can confidently manage your tax season workflow and save time. Lean on the resources within the Tax Section’s Annual Tax Compliance Kit.
Not a Tax Section member? You can download a C corporation tax return checklist to sample what the Annual Tax Compliance Kit offers. Join the AICPA Tax Section today to access invaluable resources like the Annual Tax Compliance Kit.