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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.

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IRS Getting Serious About Prosecuting ERC Fraud

CPA Practice

From the Kiplinger Consumer News Service (via TNS). Employee retention credits have been in the news lately. The Department of Justice recently arrested a New Jersey tax preparer for allegedly seeking more than $124 million from the IRS. million in tax refunds to Haynes’ clients based on false tax form filings.

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Friday Footnotes: XOXO, Accountants; PwC Wants Tax Cuts; KPMG Stacks Partners | 7.1.22

Going Concern

Ernst & Young IPO Will Create a Lot of Sour Grapes [ Washington Post ] Big Four auditor Ernst & Young LLP’s potential IPO of its consulting activities could trigger stock windfalls of as much as $8 million each for the consulting partners, according to the Financial Times. In time, they could cash in their stock.

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Listen Up, Young Accountants: Career Advice For Sticking Out Those Early Years

Going Concern

In other words, they weren’t satisfied with understanding debits, credits, and audits. The hallmark of a great auditor is not just understanding debits and credits, but understanding how the client makes money and the economics and the cash flows,” added Maginnis. “The

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Monday Morning Accounting News Brief: PwC CEO Resigns Over Tax Scandal; RTO Propaganda; Unproductive Productivity | 5.8.23

Going Concern

Financial Times : The head of PwC in Australia has resigned as chief executive three days after admitting that he had received emails regarding confidential government information on changes to tax avoidance laws to win new business. times more likely to audit Black taxpayers than non-Black ones. The actual term is longer.

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Legal Expert: Employers Should Conduct Regular Auditing of A.I. Tools Used for Employment Practices

ThomsonReuters

Also, both New Jersey ( L. 2022, A4909 ) and New York ( L. Consider having an outside vendor help audit the tool before and after implementation, to monitor for and correct for any potential disparate impact on protected groups. Should human resource and payroll departments be represented for internal/external audits?

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Monday Morning Accounting News Brief: Gen Z Ruins Accounting; EY Hammers Out Some Deets; Internal Control Controversy | 12.05.22

Going Concern

Baker Tilly is running a pilot program that explores the idea of scrapping the traditional billable hour and basing its fees on the actual projects it completes instead: “It’s not about the hour, it’s about the production, it’s about the work to get the project done,” CEO Alan Whitman told Bloomberg Tax. That’s why it’s controversial.”.

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