article thumbnail

U.S. Sales Tax Rate Changes Reach 10-Year High

CPA Practice

In 2023, several states including Maryland and Pennsylvania implemented new green fees; Ohio, Tennessee, and Florida deployed new sales tax exemptions or updated their existing exemptions; and Minnesota brought on new delivery fees. While these are not technically sales taxes per se, they pose similar challenges to indirect tax teams.

Sales 110
article thumbnail

The Growing Risk of Fraud in This Year’s Upcoming Audits

ThomsonReuters

This year more than ever, auditors will have to be conscious of the possibility and adjust their audit procedures and fraud inquiries accordingly. The period in which revenue is recorded, for instance, is something auditors will have to pay special attention. It also means that fraud risk is increasing. Fraud risk goes up a lot.

audit 83
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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

TaxConnex

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. Maryland lawmakers might soon revive a proposal to expand the state’s sales tax to sales of digital products, both downloads and streaming. billion budget shortfall.

Sales 158
article thumbnail

If You’re Looking For Career Options, Give Government Auditing a Look

Going Concern

There’s the CIA (no, not that CIA, but the Certified Internal Auditor), the Certified Responsible Government Auditor (CRGA), and the Certified Government Financial Manager (CGFM) are also valued. in Accounting from American University and is a licensed CPA in Maryland. He holds a B.S.

article thumbnail

U.S. Sales Tax Rate Changes Reach 10-Year High

CPA Practice

In 2023, several states including Maryland and Pennsylvania implemented new green fees; Ohio, Tennessee, and Florida deployed new sales tax exemptions or updated their existing exemptions; and Minnesota brought on new delivery fees. While these are not technically sales taxes per se, they pose similar challenges to indirect tax teams.

Sales 52
article thumbnail

U.S. Sales Tax Rate Changes Reach 10-Year High

CPA Practice

In 2023, several states including Maryland and Pennsylvania implemented new green fees; Ohio, Tennessee, and Florida deployed new sales tax exemptions or updated their existing exemptions; and Minnesota brought on new delivery fees. While these are not technically sales taxes per se, they pose similar challenges to indirect tax teams.

Sales 52
article thumbnail

Here’s Everything We Know So Far About 2022 Accounting Salary Projections

Going Concern

Senior auditor: 1.6%. Auditor, 1-3 years’ experience: 2.2%. Entry-level auditor: 1.6%. Washington, DC; Maryland; and Virginia. Tax accountant, 1-3 years’ experience: 1.6%. Entry-level tax accountant: 2.6%. Audit and assurance services. Senior manager/director: 1.6%. Manager: 1.4%. salary increase over 2021.