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Amazon taxes expanding; Mitt Romney's tax secrets

As I just mentioned, I was at the IRS Nationwide Tax Forum in San Diego last week. But while more than a thousand tax practitioners and a few stray tax geeks like me gathered in Southern California, taxes continued to make news in the rest of the country and were so noted last week at my other tax blog.

Bankrate Taxes Blog icon Some tax watchers marveled at how state lawmakers from both political parties have found common ground. Democrats and Republicans in U.S. statehouses have worked out deals for online retail giant Amazon to collect state sales taxes.

That's not really so surprising. The sluggish economy has hit treasuries hard. And speaking of hard, it's darn near impossible for state tax collectors to get their own residents to comply with state use tax laws that apply to online and catalog sales.

The Amazon agremeents to collect the sales taxes solve for the most part that problem. the book et al seller already charges sales tax to buyers in Kansas, Kentucky, New York, North Dakota, Washington and, on July 1, Texans began paying Lone Star State sales taxes on Amazon purchases.

In the coming years, Amazon also will tack on sales tax charges to orders from California (September 2012), New Jersey (July 2013), Virginia (September 2013), Indiana, Nevada and Tennessee (January 2014) and South Carolina (January 2016).

There's shorter time frame when it comes for taxes as they relate to the 2012 GOP presidential nominee. Mitt Romney has been keeping most of his tax returns secret, but he's getting pressure to release more than just two years worth of filings.

Will he? Will it affect the presidential election if he does or doesn't? We shall see … or not.

You can check out my posts over at Bankrate Taxes Blog each Tuesday and Thursday. If you happen to miss them on those days, you usually can find a wrap-up here the following Saturday.

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