Sharon A. Ackerman
Sharon Ackerman, CPA, is a tax director in the Tax Controversy Services Group at Anchin. Sharon has more than 20 years of experience representing both corporate and individual clients before the IRS, state and local taxing authorities. She resolves issues in a wide range of industries, including real estate, construction, professional services, manufacturing, wholesale, and retail.
Sharon specializes in residency exams and issues as well as income tax exams on the Federal, state and city level. Her expertise extends to sales tax issues, corporate nexus issues, IRS and state tax examinations. She has successfully defended many clients before the IRS in various audit stages, and has advised clients on voluntary disclosure for various state tax agencies. Sharon’s efforts have resulted in the saving of millions of dollars for her clients.
Sharon presents a variety of educational seminars for construction and real estate industry organizations. She has conducted numerous New York State Residency presentations for high net worth individuals and hedge fund managers. In addition, she has presented at Anchin’s CPE for CFOs, and often presents to real estate brokerage firms. Sharon has also been a featured speaker in webinars focusing on sales tax and tax controversy issues, and often authors industry-related news blasts.
- Private Client
- State and Local Taxation
- Tax Controversy
- Key Tax Considerations When Deciding to Make a Pandemic Re-location into a Permanent Move May 28, 2020
Many of you have vacated your homes in the New York City area and other high-traffic areas in response to the COVID-19 outbreak. Now, phased re-openings and a slow return to normalcy bring a lot of questions about the end date for what was expected to be a short-term re-location. As a result, many of you are thinking of staying where you are and wondering if there could be tax benefits to doing so.
- An Overlooked Tax Benefit for Construction Firms: Business Interest Limitation ChangesMay 13, 2020
The Tax Cuts and Jobs Act (TCJA) of 2017 was generally a taxpayer-friendly legislation for the business community. However, there were several provisions in that Act that were implemented as revenue raisers to partially offset the cost of those tax breaks. One of those revenue raising provisions was the business interest expense limitation. This limitation can potentially impact construction companies of all entity types. The recently passed Coronavirus Aid, Relief and Economic Security (CARES) Act modified and increased the existing 30% business interest limitation to 50% for the years beginning with 2019 and 2020. For partnerships, this will not apply to years beginning with 2019, but only for 2020.
- NYS Sales Tax Filing and Payment Extension Deadline ApproachesMay 8, 2020
Quarterly and annual New York State sales tax vendors who were unable to file or pay March 20, 2020 sales tax returns due to the COVID-19 outbreak must file these returns and make payments by May 19, 2020. Some may be eligible to have penalties and interest waived, but penalty abatements must be submitted for approval and are not automatic.
- Changes to the Philadelphia and the State of Pennsylvania Nexus LawFebruary 6, 2020
The state of Pennsylvania is using the Wayfair v. South Dakota decision as precedent to announce that, effective tax years beginning January 1, 2020, corporations that don’t have a physical presence in the state, but have $500,000 or more in gross receipts sourced to the state, will have nexus for Pennsylvania corporate net income tax and will be required to file an income tax return. This is the first time Pennsylvania has imposed corporate net income tax based solely on economic nexus.
- States Modify Thresholds for Tax Filing Requirements (Oregon, Washington, Ohio, Texas and Massachusetts)February 3, 2020
The states of Oregon, Washington, Ohio, Texas and Massachusetts have made modifications to their thresholds and tax filing requirements.
- Wayfair State Threshold Updates for 2020January 6, 2020
There are far-reaching impacts of the Wayfair decision that continue to evolve as individual states modify their laws. Provided here is an update for 2020 of the state thresholds required to register and collect sales tax in light of the Wayfair decision.
- Westchester County Increases Sales and Use Tax RateJuly 29, 2019
Starting August 1, 2019, local sales and use tax in Westchester County, New York will increase by 1%, from 3% to 4%.
- Do You Know the Sales Tax Rules for the States in Your Supply Chain? If Not, It Could Be Costly. December 21, 2018
Retailers that operate in multiple tax jurisdictions across the U.S. are facing an increasingly complex and onerous landscape. While once they were able to trust customers to settle their own sales tax bill, the Supreme Court's decision in Wayfair vs. South Dakota now forces merchants to account for and collect the tax on every transaction, a bookkeeping nightmare for small businesses.
- Details of N.J. Amnesty Program Announced for Eligible TaxpayersNovember 20, 2018
As part of the New Jersey state budget signed by Governor Murphy on July 1, 2018, an amnesty program was announced that will offer delinquent taxpayers an incentive for paying previously unpaid taxes from prior years. This program is for income, motor fuels, sales, corporate business as well as estate and inheritance taxes. The ninety day period for the amnesty program runs from November 15, 2018 through January 15, 2019.
- Will the Increasing Focus on Raising Tax Revenue with Gross Receipts and Excise Taxes Impact You?November 7, 2018
Now privy to information from outside third parties, some states and localities are taking increasingly aggressive approaches in raising revenue with such taxes. Below, we profile
- Five Things to Consider Regarding a Second Residence in the Big AppleSeptember 27, 2018
New York can be a magical city, and many people dream of making the Big Apple their forever home. Yet for those that want to enjoy the city on a part-time basis, there are a number of things to consider to make sure the decision is appropriate. This piece highlights five.
- Congress Introduces New Sales Tax LegislationSeptember 21, 2018
Congressmen on both sides of the aisle recently introduced legislation to address the Supreme Court’s decision regarding sales tax and physical presence nexus in South Dakota versus Wayfair. The Wayfair decision allows states to require businesses to register and collect sales tax even though no physical presence in the state.
- Effective 10/1/18: Sales and Use Tax Collection Changes for Additional StatesSeptember 13, 2018
Since the U.S. Supreme Court’s recent ruling in South Dakota v Wayfair Inc., additional states have released guidance on the treatment of sales and use tax, effective 10/1/18.
- Effective 7/1/18: Sales and Use Tax Collection Changes for Vermont and KentuckyJuly 2, 2018
Since the U.S. Supreme Court’s recent overturning of Quill Corp. v. North Dakota, Vermont and Kentucky have released guidance on the treatment of sales and use tax, both of which went into effect on July 1, 2018.
- Supreme Court Opens Door to Taxation of Online SalesJune 26, 2018
In a much-anticipated ruling that confounded the expectations of many court watchers, the U.S. Supreme Court has given state and local governments the green light to impose sales taxes on out-of-state online sales. The 5-4 decision in South Dakota v. Wayfair, Inc. was met by cheers from brick-and-mortar retailers, who have long believed that the high court’s previous rulings on the issue disadvantaged them, as well as state governments that are eager to replenish their coffers.
- Supreme Court Overturns Significant Wide Reaching Tax RulingJune 21, 2018
In one of the most groundbreaking tax events in decades, the U.S. Supreme Court overturned Quill Corp. v. North Dakota, a 1992 decision pertaining to the collection of use tax. Now, retailers can be required to collect sales and use tax, even in states in which they lack a physical presence.
- Attention Amazon Vendors – Changes to Sales Tax Collection Policy in WA, MA and NYJune 19, 2018
Online retail giant Amazon reached an agreement this year with the states of New York, Washington and Massachusetts that may affect many of the site’s sellers and vendors from a sales tax perspective.
- South Dakota v. Wayfair Inc. May Significantly Change How Retailers Collect Sales TaxJanuary 17, 2018
It is no secret that there has been a dramatic change in the system of collection of sales tax in the United States in recent years, partially due to trends such as online shopping. A recent court case that could dramatically change the laws on sales tax and have a potentially significant impact on businesses and consumers is progressing through the judicial system.
- Sales Tax on Foreign Purchases for New YorkersDecember 6, 2017
Understanding the full extent of tax obligations, especially given the complex and ever-changing rules governing New York, can be complicated. To ensure that all tax
- Sales and Use Tax Exemptions Extended for Certain Property and Service Purchases for Leased Commercial Office Space in Lower ManhattanSeptember 19, 2017
Amendments have been made to the Tax Law that will extend tax incentive opportunities for businesses that locate or relocate offices in lower Manhattan.
- What You Need to Know About Sales and Use TaxDecember 13, 2016
An increasing amount of building owners and management companies are being audited by states for Sales and Use tax compliance. These audits are resulting in firms being assessed for thousands of dollars in taxes, interest, and, in some instances, penalties.
- NYS Art Collectors Under Scrutiny for Taxes on Shipped ArtMarch 2, 2016
Law enforcement and tax authorities have been closely investigating electronic records and tax returns for the buying and selling of art in New York State. Art collectors and intermediaries have come under close scrutiny as to whether they have been paying taxes, maintaining shipping records and providing invoices during the sales process.
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