Blog: The 'XYZ Letter' and your sales tax compliance


An XYZ letter is a letter sent to a seller’s customers and serves as an affidavit that the sales tax obligation has been satisfied by the customer.

Sales 178

Tips to Ensure You Don't Mishandle a Sales Tax Audit


Managing a sales and use tax audit can be challenging. First, you should always anticipate an audit – even if you’ve never been audited before. There are several reasons your business may be audited. sales tax compliance sales tax audits

audit 163

Sign Up for our Newsletter

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

The new breed of audit


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. Virtual audit is a real threat.

audit 171

7 Ways a Business is Selected for Audit


sales tax audits ?were sales tax audits to become more common over the next two years. of respondents said they believe audit levels?will already seen an increase in the number of audits in the past two years. ramping up audits remains?anecdotal,?but

audit 192

EY Accused Of Missing Alleged Wirecard Fraud


According to emails seen by WSJ, the auditing firm knew of and had questions about the arrangements and was signing off on Wirecard’s financial results for years anyway. Security & Fraud Audit Ernst & Young EY fraud News scandal security & fraud What's Hot Wirecard

Wirecard Forces ‘Radical’ Reboot Of German Accounting Regs


He has been released on 5 million euros ($5.6 German regulators have faced accusations that they failed to adequately supervise Wirecard, which has been audited by Ernst & Young , the Times reported.

When You Need to Hire a Pro: Online Accounting Service for Small Business


They can help you prevent getting audited by the IRS by setting up your bookkeeping system right the first time and preparing and guiding you through an audit, if necessary. . This year has been so hard on small businesses. When you have been audited.

What ‘Patchwork’ eCommerce Taxes Mean For Black Friday – And Beyond


As has been well-reported in this space, the regulatory landscape is changing for companies in the wake of the 2018 Supreme Court decision captioned South Dakota v. States have been defining their parameters for economic nexuses. There have been some notable efforts by states to take some of the guesswork out of the occasion. Audits may increase as states share data with one another about smaller firms that log sales in several locations.