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Evolution of the Sales Tax Audit: Have Audits Changed with Economic Nexus?

TaxConnex

So has the sales tax audit. Examiners can still show up and go over your books in person, and tax agencies will still send audit notices via snail mail. Many events can ignite a sales tax audit. But have sales tax audits changed over the last few years, through the pandemic and the introduction of economic nexus in 2018?

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Best Practices for Managing a Sales Tax Audit

TaxConnex

If you and your company haven’t been hit with a sales tax audit yet, congrats. In TaxConnex’s recent market survey more than one in four (26.7%) top finance professionals in a variety of industries report seeing an increase in state sales tax audits in the past two years. Sales Tax Audit Triggers. Sales Tax Audit Triggers.

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Friday Footnotes: Disengaged Team? Do This; Deloitte’s Huge India Expansion; Auditors Yelled At…Again | 3.24.23

Going Concern

The workers have viable ERISA claims based on BDO’s alleged failure to obtain the cheapest available share classes for certain plan investments, the US District Court for the Northern District of Illinois ruled Tuesday. Auditors have done so too. audit partners want a bigger piece of the firm’s lucrative tax business.

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Monday Afternoon Accounting News Brief: Stop Calling It an Audit; Deloitters Clean Up Some Trash | 8.21.23

Going Concern

This week I’ll be covering the Illinois CPA Society SUMMIT23 so if you want to keep up with all that from the comfort of your home or office go on Twitter. I’m not an auditor, either by training or current profession, and I’m not here to write about how audits work. I’ll leave this to my audit colleagues.

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Accountants Behaving Badly: Police Department Accountant Couldn’t Be Bothered, PPP Loan Fraud, and a Creepy Tax Preparer

Going Concern

Attorney General’s Office for Northern Illinois announced on Wednesday. Accountant charged with falsifying signatures on audit documents [ Australian Securities & Investments Commission ] Stephen Robert Allen, the sole director of K.H.N The audit also showed the system was badly mismanaged by the Police Department.

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The Beef Between the AICPA and Minnesota Over the 150 Hour Rule Heats Up

Going Concern

If a CPA in Minnesota serves clients in Illinois, they will need to do the following: Submit all college transcripts, experience verification documentation, and exam scores to NASBA to determine if the licensee’s initial licensure qualifications meet the requirements to practice in Illinois.

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Friday Footnotes: KPMG Pays High Schoolers 20 Bucks an Hour; Deloitte Cyberattacked Too; IRS on ERC | 7.28.23

Going Concern

Big 4 Deloitte joins fellow Big Four MOVEit victims PWC, EY [ Cybernews ] The New York City-based global auditing and accounting firm appeared alongside 55 other MOVEit victims named by the Cl0p ransomware gang Wednesday, but Deloitte says the impact on its systems is limited. About 80% of audits conducted don’t find tax noncompliance.

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