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COUNTERPOINT: IRS Should Not Be Trusted With Direct File

CPA Practice

The agency wants to file the citizen’s taxes, collect that money, and double back to conduct audits—without any mediating institution to gainsay potential (nay, likely) abuse. An audit by the Treasury Inspector General for Tax Administration (TIGTA) could not confirm the IRS’s cost assumptions—nor could the agency meaningfully defend them.

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Don't Test Your Luck with Non-Compliance

TaxConnex

Supreme Court Case, South Dakota v. sales tax audits ?are sales tax audits to increase over the next two years.? already seen an increase in audits over that same time. Jurisdictions can discover your company’s nexus through an audit – but not just an audit of you r business. and pandemic,?

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Eide Bailly Sees Risk Awareness Driving Growth in Sales Tax Automation

CPA Practice

Supreme Court decision in South Dakota v. which enabled states to implement economic nexus laws, businesses continue to discover, sometimes through painful audits, that they have unaddressed tax obligations. Auditors are becoming more active. Wayfair, Inc.,

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Sales Tax Issues for Online Retailers

Withum

South Dakota v. Also, many states are hiring more sales tax auditors to audit more companies and identify related vendors who may not comply with sales tax. a remote seller established nexus with a state based upon the dollar amount of sales and/or the number of transactions). Wayfair, Inc. – 138 S. 2080 (2018).

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Friday Footnotes: How Are Firms Actually Using Data Analytics?; KPMG and BDO on the Move | 9.15.23

Going Concern

Audit Comments Raise Concerns About PCAOB’s Proposal To Expand the Scope of Audits and the Role of Auditors [ JD Supra ] In June 2023, the Public Company Accounting Oversight Board (PCAOB) proposed sweeping amendments to its auditing standards. Following is a summary of the key areas of comment.

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Where The Tax Man Will Knock Louder Post-Wayfair — And Sooner

PYMNTS

Last year, in the case of South Dakota v. Knock, Knock: It’s The Friendly Neighborhood Auditor. Nobody wants the auditor to come knocking — but they will, no doubt. However, as has been the case in so much of eCommerce, venturing into new geographies means companies must grapple with a host of new issues. Wayfair, Inc. ,

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