TaxConnex

JULY 20, 2023

Maintaining current, valid exemption certificates is critical in managing your overall sales tax risk. Under audit, an otherwise exempt sale will be deemed taxable without such documentation from a customer – and just a few missing certificates can result in large penalties and interest.

audit 130

audit Tax Sales auditor 130

TaxConnex

AUGUST 8, 2023

Valid exemption certificates from your customers are critical in managing your overall sales tax risk. Yet a surprising number of companies have inadequate processes to receive, validate, maintain, and update exemption certificates. Review your files Determine whether you have any missing exemption certificates.

auditor 130

auditor audit Tax Sales 130

TaxConnex

MAY 9, 2023

Losing an important member of your finance team can leave a big hole in many business processes, especially if most of your accounting functions are managed in-house. But what happens when you lose the person managing your sales tax obligations? What resources or tools will they need to handle this new responsibility?

Sales 130

Sales Tax audit tax return 130

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. Fear and perception of audits are as tangible as the real examinations. Fear and loathing.

audit 174

audit auditor general ledger Minnesota 174

TaxConnex

NOVEMBER 22, 2022

In our blog last week, we looked at how sales and use tax advisory services might be a good new field for CPAs and accounting firms. How can they go about making the move? Mark Friedlich, CPA, vice president of U.S. Mark Friedlich, CPA, vice president of U.S. How can you easily access this demand? Review the sales tax payable account.

accounting firms 130

accounting firms Sales Tax tax return 130

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 How does a business get selected for an audit? anecdotal,?but

audit 204

audit auditor Missouri Tax 204

CPA Practice

JANUARY 9, 2024

What will 2024 bring when it comes to managing tax and reporting processes? 2024 will be the year of audits. 2024 will be the year of audits. Businesses and consumers should all prepare for an uptick in audits in 2024.” Businesses and consumers should all prepare for an uptick in audits in 2024.”

Technology 81

Technology Tax E-commerce audit 81