Sharp Tax & Accounting Blog
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Voluntary Disclosure Agreements: A Smart, Cost‑Saving Strategy for Resolving Hidden State Tax Liabilities
Voluntary Disclosure Agreements help businesses resolve past state tax liabilities on far more favorable terms. By limiting the lookback period, waiving penalties, and preventing open‑ended audits, a VDA gives taxpayers a clean slate and protects them from years of hidden exposure that could otherwise lead to costly assessments.
Washington Court of Appeals Clarifies Semiconductor Use Tax Exemption
The Washington Court of Appeals ruled that natural gas used to grow semiconductor materials qualifies for the RCW 82.12.9651 use tax exemption, even without direct contact. The decision rejects the Department of Revenue’s narrow interpretation and expands clarity for semiconductor manufacturers.
Illinois Issues New Guidance on Marketplace Facilitators: What SaaS and Auction Platforms Need to Know
Illinois’ GIL ST 25‑0060‑GIL clarifies how Marketplace Facilitator rules apply to SaaS platforms, auction technology providers, and multi‑seller environments. The state takes a broad view of “facilitates” and “indirect payment processing,” meaning even optional payment links or listing tools may trigger facilitator obligations.
Understanding the New Draft W‑9 (2026): What could change?
Learn what’s changing in the IRS Draft Form W‑9 (2026), including new digital asset broker certifications and TIN clarifications for small businesses
IRS Moves Toward All‑Electronic Refunds: What Taxpayers Need to Know
The IRS has officially started phasing out paper refund checks and the change could impact how you receive your money in 2026. Here’s what’s happening and what you need to do now.
Minnesota Paid Family & Medical Leave: What Small Businesses Need to Know Before 2026
Starting January 1, 2026, Minnesota’s new Paid Family & Medical Leave (PFML) program kicks in. This law gives employees up to 20 weeks of paid leave for family or medical reasons, with costs shared between employers and employees through payroll contributions.