Las Vegas Tax Law Blog

A bipartisan bill introduced on May 23 is slated to address what some are calling a glaring omission in the current national tax structure. The bill, touted by its supporters as "common sense," would require federal employees in Nevada and elsewhere to be current on their tax payments or run the risk of termination. Additionally, it would prohibit the government from hiring anyone with outstanding tax debt.

Proponents of the bill argue that the average American citizen should not be required to cover the difference for federal employees delinquent in their tax payments. The bill would require a prospective or current federal employee to be either up-to-date and not carrying a balance on their taxes, or else have arranged a payment agreement with the IRS. Those with seriously delinquent outstanding taxes would be subject to termination, or would not be hired, respectively.

A new bill passed through the U.S. Senate will change the way taxes are collected in online purchases. The bill, enthusiastically backed by the Retail Association of Nevada, will see additional responsibilities put on online retailers to help mitigate tax issues that have long plagued the market. The bill will apply to all businesses across the nation.

Historically, retailers have only been required to collect sales tax in states where their company maintains a physical presence, such as a brick-and-mortar store. For large companies with multiple branches nationwide, this means online sales have always included sales tax. For smaller businesses, however, items sold online to customers outside their home state would not include a sales tax. Technically, the customer was still responsible for paying that tax in their home state, but until now there has been no reliable way of tracking those amounts.

Sometimes, even the most conscientious of us will find ourselves facing an IRS audit. Being targeted for audits by the IRS does not have to mean headaches and stress for Nevada residents this tax season, however. There are ways to help minimize the potential frustration and ensure the audit goes smoothly. Here are a few suggestions.

Over 70 percent of audits are done through correspondence, which means you will receive a lot of paperwork in the mail. It is important for Nevada residents to address this paperwork for any audits immediately, paying careful attention to the areas of your tax return that have caught the eye of the auditing agent. Remember, ignoring the letter or putting it off only puts you at risk for missing critical due dates.

This year marks the second annual Nevada Women's Money Conference, an event spearheaded by State Treasurer Kate Marshall. The event, sponsored in part by the International Association of Working Mothers, brings together women from across Nevada to discuss and educate on the subjects of budgeting, tax debt and other financial issues. Last year's event attracted over 650 women, and Marshall hopes to duplicate that success this year.

The goal of the event as expressed by the Treasurer is to provide the women of Nevada with the financial tools they require to help secure a healthy fiscal future for themselves and their families. The conference features keynote speeches from financial advisors, mentors, and other experts. There will also be discussion seminars and networking events.