where do i find my tax statement (2024)

Multi-State Tax Consulting

In this day and age, nearly every company conducts business across state lines. Are you aware of all the additional taxes and fees you may be liable for?

We assist companies with state sales tax and income tax matters. As companies expand their operations and send salespeople across the country, or sell to consumers in other states via the internet, they create into nexus (or taxable presence) and have to think about filing in other states. That’s where Miles Consulting Group comes in.

We help companies answer questions on multi-state tax compliance:

• Wheredo you have nexus creating activities?
• Whatare the rules? What are next steps?
• Whenwas nexus created? When should you begin filing?
• How muchretroactive exposure has been created? Can we help you reduce it?

As state tax rules change, we help our clients address these questions by bridging the gap between your business and complex state tax laws.

We are often asked these three questions:

1. Why Is A Nexus Review Important?
2. Which Activities Cause State Tax Issues?
3. Multi-State Tax Consulting

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At hearing with Treasury Secretary Yellen, Crapo highlights contrast between pro-growth tax policy and proposals that would stifle economic growth

Washington, D.C.–At a U.S. Senate Finance Committee hearing on President Biden’s Fiscal Year 2025 budget, Ranking Member Mike Crapo (R-Idaho) highlighted the nearly $5 trillion in new and increased taxes included in the President’s budget proposal—tax proposals that would slow the economy and be felt by virtually all Americans. Ranking Member Crapo highlighted the contrast between the President’s tax proposals versus Republicans’ Tax Cuts and Jobs Act (TCJA), which led to one of the strongest economies in generations. Senator Crapo secured commitments from U.S. Department of the Treasury Secretary Janet Yellen to support extending Republicans’ pro-growth tax proposals.

ClickHEREto watch Senator Crapo’s opening statement.

Build A Personal Tax Brand: Secrets To Being Hired For Tax Jobs You Should Learn Now

Many tax professionals lose wonderful opportunities to be considered for the best tax jobs because they do not know how to position themselves to be selected for these roles. This article focuses on my experiences in tax professional search and what I learned from the actions tax professionals took to rise to the top of the profession. If you are thinking about entering the tax profession, or already in the profession and want to know how to be considered for a tax roles, there are steps you need to take. For the purpose of a tax professional audience, I will break this article into five categories: Public Accounting Tax, Corporate Tax, Law Firm Tax, Independent Tax Services, and Government Tax Roles.

In writing this article, understand the information comes from my experience in working on more than one thousand tax searches over thirty years. You learn a lot when you are speaking with tax professionals in private conversations about their experiences working in these uniquely different tax work environments. You will learn what I learned about these vastly different tax environments; you will learn from this article what tax professionals liked working in a particular environment and the reasons why they decided to leave for another work environment.

Public Accounting/Consulting Firm

A public accounting firm is an ideal place for anyone to enter the tax profession. You will learn alot in a small boutique accounting practice or a mid-level to large firm. This is simply a great place to begin building your tax and accounting career. If you are fortunate enough to catch the attention of a mentor to guide you, all the better. This is the ideal environment to enter the tax and accounting profession and begin your tax career.

The greatest amount of turnover in public accounting is at the 3 to 5 years of experience where tax staff/tax seniors want to continue to grow. Many tax staff/tax seniors may want to stay until they make manager before they leave the firm. However, the truth is if someone has decided to stay and make manager in public accounting, compared to a tax staff/tax senior who has combined 5 years of experience in public accounting and a corporate tax environment; the hiring executives in corporations prefer hiring the candidate who has combined public accounting/private industry experience. This is a fact. Ask any corporate tax director and they will tell you the same. My advice to younger tax professionals is to focus on the learning experience, not the title.

If you are in public accounting and want to move to another firm, I would then understand the title is the primary driver for most in an accounting firm. What I would advise key hiring managers in public accounting is the best way to retain your professional staff is to invest in their training and education. For instance, you could train your staff in partnerships by sending them to a high-quality partnership education seminars like taxforums.com. Charles Levun and Michael Cohen are nationally trusted trainers in tax partnerships. They go through multiple case studies in their seminars which are highly rated sessions. They generally conduct annual training seminars on tax partnerships in May and June which you can find here: https://www.taxforums.com/default

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On January 4, 2024 the New York City Comptroller posts online the many benefits to New York City taxpayers the immigrants bring to the city. In case you have not read or viewed this public statement, you may want to take a closer look and comment on your experience of the use of New York State/City taxes. With one of the highest, if not the highest tax rates in the country, taxpayers should know how their tax money is spent. This message below comes straight out of the New York Government website with the direct link at the bottom of this article as proof. Just in case you cannot believe it. We would love to hear from New Yorkers or those taxpayers who left New York in our commentary section below. We would love for you to educate taxpayers, too!

Background: Busting Myths About Immigration

As New York City welcomes over 100,000 new arrivals seeking asylum, it is critical to ground conversations on immigration in facts, not fear. This fact sheet seeks to provide accurate information on key questions.

FACT: Immigrants Benefit Our Economy, Irrespective Of Their Status

Immigrants strengthen our economy as workers, entrepreneurs, taxpayers, and consumers:

• Immigrant New Yorkers are more likely to beemployed,[1]are more likely tocreate jobs[2]by starting a business, and contribute billions of dollars to our New York economy inspending power and tax revenue.[3]
• In 2021, immigrant New Yorkerspaid[4]$61 billion dollars in taxes and constituted $138 billion dollars in spending power.
• When New York City faced abandonment and fiscal crisis in the 1970s, a strong wave of immigration contributed to public safety, increased the city’s population, andboosted public revenues.[5]
• Our upstate neighborsRochester, Syracuse, and Utica[6]experienced an economic revitalization after welcoming new arrivals, who have opened new businesses, contributed to population growth,rebuilt homes,[7]and contributedmillions in taxes and spending power.[8]

Welcoming Asylum Seekers Is A Net Positive To The Economy

• Conservative estimates have found that a 10% reduction in asylum seekers in one year would be a$8.9 billion loss[9]to the U.S. economy and over $1.5 billion in lost tax revenue over five years.

Undocumented immigrants[10]support economic growth, pay taxes, and keep our city and economy running as essential workers.

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WASHINGTON — National Taxpayer Advocate Erin M. Collins released her 2023 Annual Report to Congress, describing 2023 as a year of “extraordinary transition for the IRS and therefore for taxpayers.”

The report credits the Internal Revenue Service with substantially improving taxpayer services and developing plans to transform the taxpayer experience in the coming years, but it identifies paper processing as an area of continuing weakness.

By law, the Advocate’s report is required to identify the 10 most serious problems taxpayers are experiencing in their dealings with the IRS and to make administrative and legislative recommendations to address those problems. Before cataloging taxpayer challenges, however, Collins praised the IRS for taking notable strides forward.

“Overall, the magnitude of successes exceeded the areas of weakness in 2023, and most metrics showed significant improvement from the depths of the [COVID-19] pandemic,” Collins wrote in the report’s preface. The report says the IRS virtually eliminated its backlog of unprocessed original individual income tax returns (Forms 1040) and substantially improved telephone service.

Taxpayer service challenges

“When I released the National Taxpayer Advocate’s 2020 report, I wrote that the IRS in most cases ‘can effectively handle whatever it can automate,’ and when I released our 2021 report, I wrote that ‘paper is the IRS’s kryptonite,'” Collins said in releasing the new report. “Those observations continued to hold true in 2023. The areas in which taxpayers continued to experience delays were primarily those that required employees to process tax returns and taxpayer correspondence.”

Extraordinary delays in assisting victims of identity theft. At the end of fiscal year (FY) 2023, nearly half a million taxpayers with cases pending in the IRS’s Identity Theft Victims Assistance (IDTVA) unit were waiting an average of almost 19 months for the agency to resolve their identity theft problems. “If it weren’t for the significant number of challenges affecting larger groups of taxpayers, this would be headline news, and it should be,” Collins wrote. “Many taxpayers depend on their tax refunds to meet their living expenses, particularly low-income taxpayers who receive Earned Income Tax Credit (EITC) benefits that [approached] $7,000 for tax year 2022.” Noting that 69% of taxpayers whose identity theft cases the IDTVA unit resolved had adjusted gross incomes at or below 250% of the federal poverty level, Collins called the delays “unconscionable” and urged the IRS to place a higher priority on resolving cases quickly.

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Senate Finance Committee Chairman Ron Wyman (Senator Oregon – Leading U.S. Senate Democrat Statement)

This Congress the Senate Finance Committee has investigated a number of tax schemes that the very wealthy – with the help of armies of high-priced tax lawyers and accountants – use to pay virtually no federal tax for years on end.

Today, we’ll examine one strategy – among others – called “Buy Borrow Die.” Just three little words on the chart behind me, that have a huge impact. Here’s how it works:

A corporate raider buys a business, and then borrows against its growing, untaxed value to fund their extravagant lifestyle. Everything from superyachts, to luxurious vacations, expensive art deals, you name it. It goes up and up in value all while not paying a dime in tax. And when they die, their assets are passed to their kids – often entirely tax-free – and the cycle continues.

Now let’s contrast Buy Borrow Die against the tax system mandated for everyone else.

A nurse or a firefighter living in Philomath, Oregon are required to pay taxes out of each paycheck. Working people don’t get to play by the same rules as billionaires. They don’t get to call up an accountant every time they don’t feel like paying taxes.

Right now, the average billionaire wriggles their way into a measly 8 percent tax rate while a nurse or firefighter making $45,000 is paying a 22 percent tax on their wages.

How is that fair? Americans overwhelmingly believe it’s not. So it’s time to look to solutions that restore fairness to the tax code while still rewarding success. After all, that’s what our country is founded on: the idea that everyone has a chance to get ahead.

Luckily, there’s a solution that achieves both fairness and economic growth. It’s called mark to market. And here’s the kicker: there’s already a version of it in the tax code. That means we have the blueprint right in front of us to use as a model for mark-to-market provisions for billionaires. Put simply: mark-to-market would require billionaires to pay tax every year, just like everyone else.

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Having completed searches for more than one thousand management level tax executives over thirty years, our team knows the last quarter of every year is always the busiest. However, this year our clients are dealing with budget cuts that focus on eliminating recruiter fees and software implementations. Armed with the knowledge this is happening to so many of our long-term clients, I want to help you by providing valuable information or what we consider a Life Saver Secret for inhouse tax executives and CFOs needing a tax executive. We are sharing information so you save a lot of time that would otherwise be wasted dealing with challenges we know are occurring within hundreds of corporate tax organizations today.

Challenges Acquiring Tax Talent Today: Know What The Tax Candidates Are Saying

For Corporate Tax And Financial Leaders who have made the decision to refrain from retaining an expert to conduct a tax search, I will share with you a glimpse of the conversations we are having with sophisticated corporate tax executives in the profession. The reality is an inexperienced recruiter will cost you access to the best executives available in the market. If you want access to the best in the tax profession, start with someone who is experienced and trusted in the tax search profession.

Learn what many tax executives are telling us in private conversations:

“ I am surprised at the number of inexperienced recruiters calling me about tax roles that are poorly represented by a new generation of recruiters. There is no way I would trust a recruiter to represent me professionally to another company given the statements they made to me. Many recruiters who call me do not really understand what I do or they send an email to me that unprofessionally begins with…Hey!. I feel like telling them… Hey is for horses:)”

“A recruiter called recently and all they were focused on was diversity, equity, and inclusion; and spent little to no time asking me about my professional goals, education, and technical skills. I found it to be a total turn-off; yet I do not know if it was the company or the recruiter who wanted the information from me. Either way, I was turned off completely to the company and the recruiter.”

“The recruiter could not understand why I was not interested in any tax role reporting to a Controller; and why I would only interview for a lead tax role reporting directly to the CFO. The Head of Tax wants to work hand in hand with the CFO before any transaction takes place. The recruiters lack of understanding and the stated reporting relationship scared me away from considering the company tax lead role.”

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Three years ago, I did not know anything but the Great Reset. Perhaps many of you did not know about the Great Reset either. Five years ago there were a few people who would tell me what was about to happen to our personal and professional lives, yet it was too out there to believe what they told me was coming. After time, I discovered the information people were giving me was true all along. By now you all realize main stream media sites feed us a never ending stream of grossly dishonest information, increasing taxes we do not want, to feed a war we do not want, forcing us to use electric vehicle energy which most do not want, dissolving our borders with the Declaration of North America (DNA) signed by Biden in January 2023, and harming the innocent minds of our youngest generation of children with inappropriate books. The list could go on but the question is what can you do? This is what most people say and think “what can I do?” People feel disenfranchised, they feel they have lost their power. Know you have not lost your power, you just lost your way for a short time. Take the power away from these large media sites collecting all this data and information on you.
(Read all of the book review comments, very enlightening information)

There is a book called the Great Reset And the Struggle For Liberty by Michael Rectenwald. When I went to Amazon to read the reviews, I saw the most important comment in the book review section. The book review by Arik was amazing. The 5th sentence from the bottom of the book review is an epiphany. He states “Anyone who truly challenges power won’t show up on a multi-billion dollar media platform.” What Arik is reminding us is we are controlled and manipulated by sites like FaceBook(Meta), LinkedIn, and Google. For example, the people spoke when Anheuser-Busch InBev became a casualty of American culture wars and eliminated a significant portion of its core customers in the U.S. by alienating them.

Jeff Weiner admitted in this LinkedIn post in late 2014, LinkedIn and WeChat have been officially cooperating with one other.
https://www.linkedin.com/pulse/20140224235450-22330283-linkedin-in-china-connecting-the-world-s-professionals

Every bit of your activity on LinkedIn and WeChat is analyzed, tracked, and shared with Chinese Government Authorities as part of the mass surveillance network on you! You are most likely unaware of this relationship!
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Moore and Retroactivity – The Readers Digest Version

"The Little Red Transition Tax Book" – Everything you need to know about the 965bmandatory repatriation tax but didn't know to ask. A horrific abuse of #Americansabroad in a @citizenshiptax and #FATCA world! https://t.co/j7v1Asreek

— U.S. Transition Tax – Subpart F and #GILTI (@USTransitionTax) June 26, 2023

This history of the Moore case is described by Professors Brooks and Gamage as follows:

The taxpayers brought suit challenging the MRT, arguing that it was an unapportioned direct tax and therefore in violation of the Constitution.25 (They also argued that its seeming retroactivity was in violation of the Due Process clause of the Fifth Amendment,26 though this was not the main focus of the case, nor did the dissenters address it, nor do the petitioners raise the issue in the cert petition, so we put that claim aside.27) The district court dismissed the claim, and a three-judge panel of the Ninth Circuit unanimously affirmed the dismissal.28 The taxpayers’ subsequent petition for rehearing and rehearing en banc was denied.29

The Chamber of Commerce’s amicus cert brief filed on March 27, 2023 included on page 18:

The Constitution imposes numerous safeguards that prevent the government from making rapid changes that would unsettle expectations. Such principles “find[] expression in several [constitutional] provisions,” Landgraf v. USI Film Prods., 511 U.S. 244, 265 (1994), and often implicate tax laws.

First, “a retroactive tax provision [can be] so harsh and oppressive as to transgress the constitutional lim-itation” of due process. Carlton, 512 U.S. at 30. When “Congress act[s] promptly and establishe[s] only a modest period of retroactivity,” like “only slightly greater than one year,” a tax law’s retroactive effect has been deemed permissible. Id. at 32–33. But a tax law that deals with a “novel development” regarding “a transfer that occurred 12 years earlier” has been held unconstitutional. Id. at 34 (discussing Nichols v. Coolidge, 274 U.S. 531 (1927)). Here, of course, the Ninth Circuit called the MRT a “novel concept,” and it reached back—not one, not twelve—but more than thirty years into the past, long after companies made decisions about where to locate their long-term as- sets.2 App 6. The MRT’s aggressive retroactivity showcases the danger of unmooring income from its defining principle of realization. Erasing the realization requirement upends taxpayer expectations—leaving them looking over their shoulders for what unrealized gain Congress might next call “income.”

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