Posts by Betty King7

Carol Price4 said:But wait—if you aren't in the VIES database, the Germans aren't even allowed to issue an invoice without VAT, though apparently you don't need to be registered if the delivery value stays under $26.

Mistie Maria — she won't be able to file her VAT returns for the 10-month period because the IRS portal will just kick it back—it’ll throw an error saying the taxpayer doesn't have a valid VAT ID for that timeframe, so yeah, that option is totally out...

So, what you're saying is that regardless of whether a company is registered for sales tax or not, we don't need a tax ID if the vehicle purchase stays below $25667?
I've tried reading up on this, but frankly, I'm lost. From what I gathered, does this only apply to companies that aren't part of the sales tax system?
This is my first time doing business within the European Union.
What am I even supposed to do at this point?

Drew Rogers6 said:Yeah, 25%. Was that actually used? Everything I mentioned before was regarding used vehicles—I’m not totally sure if the rules are the exact same for brand-new ones.

p.s. Don't stress out too much, it's really not that big of a deal. Just file the request. If they didn't charge the sales tax on the invoice—meaning they didn't cross-check you against the IRS database—then that's on them. It's their oversight, not yours. It's not like the end of the world; the company was still a registered taxpayer when the invoice went out. Personally, I'd just include it in the October filing. Even over in Germany, they submit that report this way so everything aligns up eventually. 😁

Plus, the IRS website doesn't even specify when you officially became a taxpayer or when you were added to their registry, so... ;-)

And finally, I received some information—hopefully accurate—that you can only obtain a sales tax ID for amounts exceeding $10,000.00.

Betty King7 said:Thank you so much, but here is the reality of the situation: I received the invoice. The vehicle was purchased under the company name, yet the invoice was issued without sales tax, despite there being no mention of a tax liability transfer. The invoice was dated in October; it clearly lists the tax IDs for both parties, and the seller is definitely a registered entity in the system. However, our firm hasn't submitted the application for our own federal tax ID yet.
The vehicle is already running, registered, and all fees are paid. What am I supposed to do now? Does anyone actually take these invoices down to the IRS?
I will certainly file the application for the tax ID, but the approval won't come until November. Can I not include this car purchase in the October sales tax filing? Is this madness? Please... I need advice...

And also, what rate should I be calculating? Is it 25% or what?

Drew Rogers6 said:Look, you’re basically reporting an asset acquisition. If you aren't registered in the VAT database (tax ID), I highly doubt that German outfit is going to write you an invoice without tax included—so yeah, go ahead and get that tax ID. Use the exchange rate from the Federal Reserve on the invoice date. You report the acquisition through your tax filings and the standard forms; the liability and the credit offset each other, so there shouldn't be any actual cash out of pocket. You’ll also need to talk to a clerk at the IRS to have them verify the invoice and provide a confirmation stating that the taxpayer is committing to report the vehicle acquisition via the appropriate forms and calculate the tax accordingly. Honestly, without that verification, the DMV isn't going to let you register the truck.😉

Use sections II.7. and III.7. of the tax form.

Thank you so much, but here is the reality of the situation: I received the invoice. The vehicle was purchased under the company name, yet the invoice was issued without sales tax, despite there being no mention of a tax liability transfer. The invoice was dated in October; it clearly lists the tax IDs for both parties, and the seller is definitely a registered entity in the system. However, our firm hasn't submitted the application for our own federal tax ID yet.
The vehicle is already running, registered, and all fees are paid. What am I supposed to do now? Does anyone actually take these invoices down to the IRS?
I will certainly file the application for the tax ID, but the approval won't come until November. Can I not include this car purchase in the October sales tax filing? Is this madness? Please... I need advice...

I need some guidance here. My company just picked up a heavy-duty truck from West Germany, and I’m staring at a mountain of paperwork. How exactly does one book this entry? Does this even show up on the sales tax filings, and if so, where? Also, am I required to pull a specific tax ID number for this transaction?

Does anyone here have actual experience navigating this mess? I’m looking at filing electronic applications with the FDA while simultaneously submitting paper copies to Medicare. Since Medicare hasn't mandated electronic filings for the FDA yet, I was thinking about just handing everything over at a Medicare service window. What exactly needs to be attached for the Medicare office? Should I include a printed confirmation from the pension fund proving the registration is active? Will they actually accept that, or is the staff at the Medicare counter just going to find some arbitrary reason to make my life difficult?
And one more thing: is an electronic filing with Medicare actually mandatory now, or is it still optional?

[QUOTE
Question: We accidentally skipped filing the tax forms for June, then just kept going with July onwards. So, we have all the forms from month 1 through 6 submitted, but because we messed up the sequence, the form filed under the "month 6" slot was actually meant for month 7.
How do we fix this mess? What number should we use for the actual June filing now? Or do we have to redo everything from scratch? 🙂[/QUOTE

It’s the numbers that matter—the actual dollar amounts on those tax forms. Check your totals. Re-file the forms for any months where the data is wrong and include a brief, clear explanation of the error. The IRS agent will void the old entries and input the corrected ones.

And honestly, does anyone here happen to have an NPR digital subscription? I really need to dig into the responses for those last two questions. If someone would be kind enough to forward me the answers, I’d be eternally grateful.
1. Annual financial statement audits
2. Discrepancies between audits and public filings

If one corporation acquires another, does a tax hit follow? What if they just buy a stake and the original entity remains intact? Or does the target firm simply vanish into thin air upon acquisition?

How exactly does one go about filing a Form 10-K if we've transitioned to electronic filing this year? Are we expected to submit the Form 10-K and the final settlement to City Hall electronically, while still handing over the supplemental documentation in paper format? Or what?

Greetings, mellowfox56. A warm welcome to you as well. I have been closely following your advice even before deciding to join this forum myself. It is truly a relief to see you back in action...

Kimberly Harris6 said:It doesn't have to be... all that matters is that the powers of attorney and the cards are taken. Honestly, even a random passerby could walk off with them if they aren't careful.🙂

But we don't have other clients involved here; that card is strictly for our own firm. Are you telling me someone can just walk out with nothing but the card?

Jose Johnson51 said:No, you first have to get that Deloitte card installed on your computer, and then, provided you actually need them for other clients, you take those powers of attorney along with the card and head down to the IRS

Does the person in charge actually have to show up in person, or what?

Once you receive your card from Goldman Sachs, is there any need to contact the IRS before installation begins?