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Best Practices for Managing a Sales Tax Audit

TaxConnex

12% of respondents say they’re likely to have to outsource management of sales tax audits next year. The Sales Tax Institute reports that Maine, Illinois, California, Massachusetts, Wisconsin and Washington have been the most aggressive states in sending notices and audit requests. Treat the auditor respectfully.

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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.

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Monday Morning Accounting News Brief: Watch That Utilization; PwC CEO Doesn’t Know His Own Salary | 2.19.24

Going Concern

Underemployed staff at the Big Four auditors risk losing their jobs as firms step up their scrutiny of employee workloads in a downturn. The liquidators were “taking steps to protect [their ability to bring] legal claims against auditors”, one of the people said. billion debt burden and total liabilities in excess of $300 billion.

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Friday Footnotes: Remembering Legend Sid Kess; Andersen’s Doing Great; Poland Banned Deloitte From Auditing? | 9.22.23

Going Concern

Tax ERC abuse brings renewed push for regulation of paid tax preparers [ Journal of Accountancy ] buse of the employee retention credit (ERC) by aggressive promoters who make questionable promises has pushed Treasury to renew the call for the regulation of paid tax return preparers, an action that has the AICPA’s support.

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Winning The ‘Game Of Keystrokes’ With Spend Tools

PYMNTS

Headquartered in Boston, the group serves over 500 pantries and programs in 190 cities and towns across eastern Massachusetts and distributes nearly 57 million meals annually. . The group’s audited financial details and tax returns are posted on their website. “We We are very much an open book,” Noymer said.

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