TaxConnex

APRIL 28, 2022

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.

audit 174

audit auditor general ledger Minnesota 174

TaxConnex

DECEMBER 8, 2020

Voluntary disclosure agreements (VDAs) can be an effective way to mitigate prior period sales tax exposure. If you don’t disclose back taxes and they’re unearthed through an audit, you could end up being assessed various penalties plus interest plus all tax due. A state can’t find and audit every business that is not in compliance.

audit 130

audit Maine Tax Sales 130

ThomsonReuters

FEBRUARY 2, 2022

You can do this online through blogs, white papers, webinars, and podcasts, or offline through speaking engagements and networking opportunities. Your sales cycle is much faster. Thus, your sales cycle is longer, usually starting with lead generation. Prevent audits. Marketing to individuals. Expand opportunities.

accounting firms 98

accounting firms Account accountant accounted 98

ThomsonReuters

AUGUST 24, 2021

To build a persuasive business case for sales tax software , professionals need to explain how automating certain tax functions and improving reporting and analysis will benefit the company as a whole. Keep reading for 5 ways to calculate and communicate ROI in your business case for sales tax automation.

Technology 52

Technology Sales Tax audit 52

ThomsonReuters

JULY 25, 2023

Wing: A common automation tipping point for many growing companies that still handle tax determination manually is when the volume and variety of product sales begin to outpace the tax department’s ability to keep up. Thomson Reuters: Are there risks with non-tax professionals determining tax?

Technology 93

Technology Tax audit Sales 93

ThomsonReuters

MARCH 20, 2024

Calculating sales tax across different retail channels is complex due to various regulations, frequent changes in product data, and outdated systems, especially with increasing sales volume and shrinking budgets. These multiple systems—for procurement, inventory, point-of-sale (POS), separate channels, etc.—do

Retail 52

Retail Tax Technology auditor 52

ThomsonReuters

NOVEMBER 15, 2021

the 2018 Wayfair case made companies responsible for collecting local sales taxes, a challenge that has only escalated as a result of the public’s increasing reliance on e-commerce during the pandemic. White paper: The Future of Tax Departments. White paper : Managing sales and use tax audits.

E-commerce 52

E-commerce Technology Tax corporation tax 52