Blog: The 'XYZ Letter' and your sales tax compliance
TaxConnex
JUNE 28, 2022
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.
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Tips to Ensure You Don't Mishandle a Sales Tax Audit
TaxConnex
SEPTEMBER 2, 2021
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
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The new breed of audit
TaxConnex
APRIL 28, 2022
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.
7 Ways a Business is Selected for Audit
TaxConnex
MAY 18, 2021
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
401(k) Audit CPA Success Show Podcast: Final Year-End Preparations for 401(k) Plan Sponsors
Anders CPA
NOVEMBER 1, 2022
Key Steps for Audit Preparation. If your organization’s 401(k) plan has never been audited, follow the 80/120 rule. If you currently have between 80 and 120 participants; it may be time to prepare for your first audit. Request a 401(k) Audit Consultation.
EY Accused Of Missing Alleged Wirecard Fraud
PYMNTS
JUNE 29, 2020
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
PYMNTS
JUNE 29, 2020
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.
What triggers a sales tax audit and how do you reduce the risks?
ThomsonReuters
MAY 12, 2022
What triggers a sales tax audit and how do you reduce the risk of an audit? Almost all companies undergo a sales tax audit at some point. This sales tax audit guide can help indirect tax teams avoid common audit triggers and manage the sales tax audit as smoothly as possible.
What ‘Patchwork’ eCommerce Taxes Mean For Black Friday – And Beyond
PYMNTS
NOVEMBER 29, 2019
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.
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