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Contributed by mm | June 21, 2005 12:48 PM PST
The tax-free internet shopping experience might end soon.
From New York Times:
To turn that tide, state tax officials have sought to void the 1992 Supreme Court decision, Quill v. North Dakota, which held that it would be too burdensome on businesses if they were required to collect and remit sales taxes on behalf of the 7,600 state and local taxing jurisdictions across the country.
Since 2000, more than 40 states have participated in the Streamlined Sales Tax Project, which, among other things, seeks to establish common sales tax rules and collection methods across states. The project is helping to create and distribute software for businesses to help them easily collect the taxes.
By showing that tax collection represents no substantial burden to businesses, the project hopes to spur federal legislation allowing states that have simplified their methods to mandate tax collection from retailers that do not have a physical presence in their state.
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Letting the IRS Do Your Taxes for You (April 12, 2006)
This kind of proposal will surely meet huge headwind from the commercial tax preparation business. A more plausible proposition is to provide a reliable feed of automatically collected information to these tax preparation firms to save time for tax filers and tax preparers.
Tax Time at Cullen Inc. (March 17, 2006)
Terri Cullen at WSJ shared her tax preparation experience. Very informative! Especially for: 1. Sharing that TurboTax's cool feature of comparing income and itemized deductions against other U.S. households. 2. Terri finally revealed her income (although that of 11 years ago) and her tax due ...
The New Roth 401(k) Is Here (May 29, 2005)
Great summary from Fool.com on Roth 401(k), which will become available in 2006. I believe in saving, and Roth 401(k) is an even better tool for savers than Roth IRA.
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