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The new breed of audit

TaxConnex

Usually, you learn about an audit through a notice or letter from the state or jurisdiction in question with instructions on how the audit will proceed. Many audits are conducted remotely, and an auditor never visits your office. Fear and perception of audits are as tangible as the real examinations. Fear and loathing.

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Tips to Ensure You Don't Mishandle a Sales Tax Audit

TaxConnex

Managing a sales and use tax audit can be challenging. First, you should always anticipate an audit – even if you’ve never been audited before. While they are definitely becoming more frequent as states try to crack down on economic nexus laws, rarely are you given advanced notice as to when an audit will occur.

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What triggers a sales tax audit and how do you reduce the risks?

ThomsonReuters

What triggers a sales tax audit and how do you reduce the risk of an audit? Almost all companies undergo a sales tax audit at some point. This sales tax audit guide can help indirect tax teams avoid common audit triggers and manage the sales tax audit as smoothly as possible. What is a sales tax audit?

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401(k) Audit CPA Success Show Podcast: Final Year-End Preparations for 401(k) Plan Sponsors

Anders CPA

Key Steps for Audit Preparation. If your organization’s 401(k) plan has never been audited, follow the 80/120 rule. If you currently have between 80 and 120 participants; it may be time to prepare for your first audit. If you currently have between 80 and 120 participants; it may be time to prepare for your first audit.

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Why Microsoft’s $29 Billion Tax Bill Could Be the Big Knockout Punch in Fight with the IRS

CPA Practice

By Clint Rainey, Fast Company (TNS) Way back in 2012, the IRS launched the largest-ever audit in history, accusing Microsoft of stashing billions in offshore tax havens to dodge U.S. It possessed documents where giddy executives had reveled in their “pure tax play.” The IRS felt its challenge was an open-and-shut case.

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When You Need to Hire a Pro: Online Accounting Service for Small Business

xendoo

They can help you prevent getting audited by the IRS by setting up your bookkeeping system right the first time and preparing and guiding you through an audit, if necessary. . When you have been audited. Many businesses are required to have a financial statement audit or a review with the IRS at some point.

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What ‘Patchwork’ eCommerce Taxes Mean For Black Friday – And Beyond

PYMNTS

Peterson told PYMNTS that, speaking generally, retailers get thick documents via mail and email detailing tax policies for each state in which they are licensed to do business – and all too often, they may not take the time to read through those documents.