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Tax and financial planning news from around the web: July 24 – 28, 2023

Written on Jul 27, 2023

How small retailers can handle sales tax on shipping: State-by-state guide 
Is shipping taxable? Just as there’s no one way to get products into the hands of customers, there’s no one way to tax delivery charges. 

Tax Strategy: Possible outcomes of the Tax Court decision in Farhy 
In April, the Tax Court ruled in favor of the taxpayer in Farhy v. Commissioner that the IRS didn’t have the authority under the IRC to assess and collect Form 5471 penalties. However, the decision is potentially much broader than penalties with respect to Form 5471. 

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