Sales and Use Tax Audits: Effective Strategies and Best Practices

Internal Controls, Risk Assessment, Identifying Pitfalls, Implications of Tax Reform and More

Recording of a 110-minute CPE webinar with Q&A


Conducted on Wednesday, March 14, 2018

Recorded event now available

or call 1-800-926-7926
Program Materials

This CLE/CPE webinar will provide counsel and tax professionals effective strategies and best practices for avoiding and handling state sales and use tax audits. The panel will provide guidance on current methodologies for conducting internal audits to identify items of concern and tactics to keep potential state audits on track and completed efficiently.

Description

States generally have a system for selecting taxpayers for audit and will use a variety of methods in doing so. Auditors may select taxpayers because of sales volume, nexus and complexity of tax returns or based on the occurrence of a specific events, such as bankruptcy, location closures and implementing an online sales platform.

A sales and use tax examination can be time consuming, expensive and devastating to the financial health of a business and can result in large assessments for uncollected sales tax, under-accrued use tax, interest, and penalties. Tax professionals and advisers must place greater emphasis on effective methods for handling state sales and use tax audits, and more importantly, in identifying and controlling sales and use tax risk post-tax reform.

Listen as our panel discusses effective methods in conducting internal audits to identify risks, determining sales and use tax applicability, handling state audit examinations, and will provide insight on state tax assessment concerns after tax reform.

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Outline

  1. Identifying and controlling sales and use tax risks
  2. Unanticipated sales and use tax exposure and effective due diligence
  3. Conducting an effective internal sales and use tax audit
  4. Maintaining deadlines, forms, letters, agreements and transactions
  5. Effective tactics for handling state audits and assessments

Benefits

The panel will review these and other key issues:

  • Performing a risk assessment to identify sales and use tax exposure
  • Effective due diligence and reducing the impact of unanticipated sales and use tax issues
  • Methods in conducting an internal sales and use tax audit
  • Developing policies and procedures in maintaining deadlines, forms, agreements and transactions

Faculty

Endres, Joseph
Joseph N. Endres

Partner
Hodgson Russ

Mr. Endres works with business clients on a wide range of state and local tax issues, particularly involving New...  |  Read More

Dillon, Michael
Michael T. Dillon

President
Dillon Tax Consulting

Mr. Dillon is an attorney specializing in multistate sales and use tax matters for multistate and multinational...  |  Read More

Geiger, Joseph
Joseph F. Geiger, Jr., CPA
Consulting Tax Manager
Vertex

Mr. Geiger works with the company's Tax Process Consulting Group and has more than 25 years of experience with...  |  Read More

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$247