article thumbnail

Recent Cases Show You Shouldn't Mess with Sales Tax Obligations

TaxConnex

The company has paid nearly $69,000 in restitution for sales tax it collected and failed to pay to state coffers between June 2011 and December 2015. The case was referred to investigators after an auditor found that the business hadn’t filed quarterly sales tax returns or remitted sales tax collected for that period.

Sales 159
article thumbnail

Friday Footnotes: The Profession vs. Gen Z; CPA Firms Get Back to the Office; Deloitte Quits | 6.23.23

Going Concern

Audit “When you are a hammer, the world is a nail” – SEC and PCAOB Senior Staff Signal Increased SEC and PCAOB Gatekeeper Enforcement [ Lexology ] SEC Enforcement and PCAOB Enforcement both are pursuing more significant sanctions against auditors, particularly with respect to civil money penalties. 31 is still not finished.

article thumbnail

Friday Footnotes: Working Late; The Year of the ESOP?; It’s Not Layoffs, It’s “Repositioning” | 1.5.24

Going Concern

As the accounting industry continues to move away from commoditized audit and tax services to value-based delivery of holistic business solutions, technology is key to enhancing this value through increased efficiencies and heightened support of our role as trusted business advisors. Trump business got at least $7.8