MyIRSRelief

JANUARY 7, 2024

Tax audits can be a daunting experience for any taxpayer, and when it comes to the Employment Development Department (EDD) audits, the stakes can be particularly high. The EDD is responsible for administering unemployment and disability insurance, payroll tax collection, and job training/workforce services in California.

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audit payroll tax Tax auditor 130

TaxConnex

SEPTEMBER 20, 2022

The sales tax audit can be one of the scariest – and costliest -- things an online business ever goes through. Always treat the auditor with respect and dignity. It’s also a good idea to assign one person from your company to manage the relationship with the auditor. It’s always helpful to explain your business to the auditor.

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audit Sales Tax auditor 190

TaxConnex

FEBRUARY 6, 2024

Sales tax is not something top of mind for most executives, but it is something that the majority of businesses will have to manage at some level. No matter the size of your business, if you are selling a taxable product or service and establish nexus in specific states or jurisdictions, then you have a sales tax obligation.

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Sales Tax Technology auditor 213

TaxConnex

APRIL 4, 2023

You just got notice of a sales tax audit. Ideally, you’ve done your homework and put in place processes to comply in those jurisdictions where you have nexus for sales tax purposes. Wherever you are in your sales tax compliance, these steps will help your audit process run smoother. And not ideally?

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audit Sales auditor Tax 130

TaxConnex

DECEMBER 23, 2021

If you and your company haven’t been hit with a sales tax audit yet, congrats. In TaxConnex’s recent market survey more than one in four (26.7%) top finance professionals in a variety of industries report seeing an increase in state sales tax audits in the past two years. Sales Tax Audit Triggers. The notice arrived – now what?

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audit Sales Tax auditor 167

Going Concern

MARCH 15, 2023

While the general investing public is asking “where were the auditors?” To any members of the general investing public reading this: “due professional care” means the independent auditor planned and performed the work required of them according to audit standards. Back to the auditors.

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auditor audit accounting principles financial statements 144

MyIRSRelief

MAY 15, 2023

If you receive a notice of an IRS or state FTB-CDTFA-EDD tax audit, it’s important to understand your rights and options. Tax audits can be stressful and intimidating, but with the right representation, you can navigate the process with confidence.

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audit Tax auditor tax return 130

TaxConnex

SEPTEMBER 2, 2021

Managing a sales and use tax audit can be challenging. Good news and press for your business could also put you on the radar for auditors. Many companies’ documentation is poorly organized and hard for an auditor to interpret. Be sure you have your documentation in order before the auditor shows up.

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audit Sales auditor Tax 165

ThomsonReuters

APRIL 30, 2024

Auditors rely on data review to ensure the reliability and integrity of financial statements. Auditors must ensure that financial statements are free from material misstatements and that all relevant information is included. It helps auditors identify errors, irregularities, and potential fraud.

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auditor audit Technology financial statements 52

TaxConnex

FEBRUARY 3, 2022

Sales tax has evolved a lot in recent years. So has the sales tax audit. Examiners can still show up and go over your books in person, and tax agencies will still send audit notices via snail mail. Many events can ignite a sales tax audit. And why not? What if you get flagged? Are they happening more often?

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audit Sales Tax auditor 172

Going Concern

MARCH 24, 2023

Tax The IRS plans to tax some NFTs as collectibles — and the rich would pay up to 28% on profits [ CNBC ] The IRS said it plans to tax some non-fungible tokens, or NFTs, as collectibles akin to art or gems — an approach that would tax profits for wealthy owners at a higher rate relative to assets such as stocks, real estate and cryptocurrency.

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auditor audit Entertainment Real Estate 101

Going Concern

JULY 31, 2023

Related: PwC settled ‘false LPP’ penalties days before bid to suppress emails [ Australian Financial Review ]: The Tax Office signed a confidential settlement with PwC in March involving the firm’s false claims for legal professional privilege over 150 documents related to tax advice to a multinational client.

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auditor Account accountant accounted 95

MyIRSRelief

APRIL 22, 2024

Navigating tax issues can be daunting, especially when facing audits, unpaid taxes, or payroll problems. This FAQ guide provides insights into common tax problems and solutions available in Corona, CA. In Corona, CA, having an expert who understands local and federal tax laws can be crucial.

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Tax payroll tax tax return payroll 130

Going Concern

MARCH 31, 2023

auditors who believe their part of the firm could end up weakened by a deal. audit, tax and advisory firm, as title sponsor in an effort to advance equity, access and opportunity for underrepresented and underrated youth in the sport of golf. He previously held various tax roles at KPMG. John King and Frank Mahoney, senior U.S.

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auditor audit Virginia Technology 105

MyIRSRelief

JANUARY 2, 2023

Types of IRS tax problems and how to resolve them. There are many types of IRS tax problems that individuals and businesses may encounter. Some common tax problems include: Failing to file a tax return: If you fail to file a tax return (1040, 1120, 1065, 941, etc.),

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Tax tax return payroll tax audit 147

CPA Practice

APRIL 9, 2024

The domestic sales tax landscape in the United States has been in a constant state of flux over the last decade. In fact, the 2023 Vertex End-of-Year Sales Tax Rates and Rules report shows that a total of 444 sales tax rate changes took place across all U.S. States continue to issue new fees, exemptions and tax holidays.

Sales 110

Sales Tax Minnesota Tennessee 110

CPA Practice

AUGUST 4, 2023

4 provided guidance to taxpayers on the requirements for home energy audits in order to claim the energy efficient home improvement tax credit. Notice 2023-59 , which was issued by the IRS on Friday, provides specific requirements to claim the tax credit and the process for conducting the home energy audit. The IRS on Aug.

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audit auditor Tax Start-ups 98

Going Concern

MAY 19, 2023

How the tax leaks scandal forced PwC out of the shadows [ Australian Financial Review ] A brutal news cycle shredded any hope PwC had that this would be a circuit breaker. Labor senator Deborah O’Neill, who helped reveal the extent of the tax leaks, homed in on the review. Chinese companies switch auditors to avoid U.S.

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auditor audit accounting and finance South Carolina 102

Going Concern

APRIL 7, 2023

The alliance is part of PwC UK’s technology-driven strategic plan to reframe the way traditional tax, legal and people services are delivered. Signature and First Republic were both led by former KPMG partners, and KPMG was the auditor for Silicon Valley Bank for nearly 30 years. If Your Job Exposed to ChatGPT?

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auditor chartered accountant audit accounting and finance 104

Going Concern

AUGUST 12, 2022

Hold Auditors Accountable for Complicity in Corporate Fraud [ Bloomberg Tax ] Unfortunately, since the fall of Arthur Anderson in the wake of the Enron scandal, the SEC and PCAOB have often failed to go after auditors playing fast and loose with the rules. So, how is tax season like a gallon of milk? Get rid of them.

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auditor Account accountant accounted 97

TaxConnex

FEBRUARY 23, 2021

M any industry experts believe that as state tax revenues continue to dry up from the economic shutdown and continuing pandemic , state sales tax audits are likely to increase sharply in the coming months. In Alaska, municipalities are steadily banding together to impose their own sales tax in a state that doesn’t have one.

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audit Sales Tax auditor 130

Going Concern

APRIL 12, 2024

ICYMI: These are the most-read articles on Going Concern this week: Tax Preparer Finds Out in the Worst Way Possible That ERC Wasn’t a Free Money Glitch Survey Says: Which Group of Auditors Are Most Satisfied With Their Salaries? the auditor of Tesla Korea, about the company’s financial statements for last year.

CPA 101

CPA auditor Tax audit 101

ThomsonReuters

DECEMBER 6, 2022

Today, ESG is resulting in significant opportunities for auditors, fueled by the widening range of stakeholders calling for ESG prioritization, an influx of laws and regulations pertaining to ESG, and a rise in ESG investment products. Then there’s the tax implications. More specifically, ESG-related tax incentives.

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auditor Account accountant accounted 59

RogerRossmeisl

JUNE 19, 2023

In doing so, they fail to meet the strict substantiation requirements set forth under tax law. Tax auditors are adept at rooting out inconsistencies, omissions and errors in taxpayers’ records, as illustrated by one recent U.S. Tax Court case.

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auditor CPA Tax business tax 221

Insightful Accountant

MAY 10, 2023

Zamp's team includes former state auditors, sales tax experts, research specialists and first employees of Stripe-acquired TaxJar & Vista-acquired Avalara.

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Sales auditor Tax 119

TaxConnex

APRIL 28, 2022

In years past, auditors could show up at your door asking to look at your records. Many audits are conducted remotely, and an auditor never visits your office. Audits remain an important tool for tax jurisdictions to evaluate the level, or lack thereof, of sales tax compliance within a business. Fear and loathing.

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audit auditor general ledger Minnesota 174

TaxConnex

SEPTEMBER 15, 2022

If you are a business that must collect and remit sales tax, an audit is probably one of your biggest fears. Rightly so: Sales tax audits can find fault with a variety of your operations and can cost you big– if the determination goes against you. Determining where you have nexus is key to determining your sales tax liability.

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audit Sales Tax auditor 162

TaxConnex

AUGUST 8, 2023

Valid exemption certificates from your customers are critical in managing your overall sales tax risk. Review your records as an auditor would by looking for exemption certificates that align with exempt transactions. Under audit, an otherwise exempt sale will be deemed taxable without such documentation. Get that certificate up front.

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auditor audit Tax Sales 130

TaxConnex

APRIL 11, 2023

If you are a business that must collect and remit sales tax, an audit is probably one of your biggest fears. In fact, our annual survey of financial professionals on sales tax trends has ranked sales tax audits as a top worry for the third year in a row. If the number of audits has remained the same, why is it a top worry?

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audit Sales Tax auditor 130

TaxConnex

JUNE 27, 2023

Staying on top of your sales tax obligations is crucial to maintaining compliance and avoiding costly penalties. However, navigating the complex world of sales tax filing is a lot for a business to manage without the right expertise. Software cannot provide personalized advice or handle complex sales tax situations that may arise. 

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Sales Tax auditor tax return 130

TaxConnex

JUNE 15, 2021

Why are you paying more penalties for missed notices and late payments than you were before you started working with your sales tax vendor? The good news is there are other providers that put the client first and ensure sales tax is managed correctly. Will you help me monitor my sales tax obligations? in every state?

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Sales Tax audit tax preparation 228

TaxConnex

OCTOBER 4, 2022

So you’ve done the smart thing and determined that your company has sales tax obligations in various states. Now you must collect, file, and remit sales tax in multiple states. You then need to create a billing process to apply tax to your invoice, manage your sales tax-exemption certificates and prepare and file sales tax returns.

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Sales Tax tax return Colorado 130

TaxConnex

SEPTEMBER 22, 2020

Taxes are an integral part of the telecom world. Taxes, fees and government surcharges on telecommunications services increased from 19.1% In talking with countless telecommunications service providers about their various tax and regulatory requirements, there are some recurring themes I hear that can be troubling.

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Tax California auditor Sales 236

CPA Practice

MAY 17, 2024

Prior to the widespread adoption of ecommerce, handling sales and use tax was relatively feasible for businesses, especially those with limited customer bases or geographical scopes. This typically involved reporting to a small number of jurisdictions and dealing with occasional changes in sales tax rules or rates.

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Sales Tax Technology audit 52

ThomsonReuters

JANUARY 3, 2023

Too many of today’s auditors are stressed and overworked. Therefore, firms need to ensure that auditors can access the tools they need and achieve the greater work-life balance they desire should they wish to retain top talent. . Auditors are no exception. What challenges do auditors face today?

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auditor audit Technology Gaming 59

Going Concern

APRIL 30, 2024

Here’s a snapshot from 2019 that shows how much cannabis companies were paying to which auditors: A look at 40 Canadian cannabis companies and what they paid to their auditors over their past fiscal year. Note that many companies switched auditors so not all fees listed went to the current auditor.)

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auditor audit Legal Tax 103

ThomsonReuters

JUNE 28, 2023

If you’re a tax firm leader looking to differentiate yourself from the competition, providing your clients with insight into their ESG data is a great way to set your firm apart. When you look at ESG through the lens of a tax and accounting firm, reporting on environmental, social, and governance factors is enabled by data.

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Tax auditor audit Technology 98