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More Businesses Are Turning to Automation to Manage Tax on Purchases

CPA Practice

a provider of cloud-based tax compliance automation for businesses of all sizes, today released findings from a new survey of The survey findings reveal that A majority of businesses believe that use tax is challenging, with many indicating the cost of managing use tax obligations is high for their business. Avalara, Inc. ,

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The new breed of audit

TaxConnex

Even though many audits have shifted to remote audit, the fundamentals of the sales tax audit haven’t changed. The consultancy Agile has cited several stats on sales tax audits, including that one in five small-to-midsize businesses have been audited within the past five years. It’s also changed auditing.

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What triggers a sales tax audit and how do you reduce the risks?

ThomsonReuters

Past audits – You have been audited in the past and had sales and use tax audit liabilities. In addition, businesses that request sales and use tax refunds are often selected for audits. Tax technology can also reduce the risk of an audit, saving your business time and the need to pay costly penalties.

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