Sales Tax Automation Benefits and Limitations: Managing Compliance, Avoiding Penalties, Selecting Software

Note: CLE credit is not offered on this program

A live 110-minute CPE webinar with interactive Q&A

This program is included with the Strafford CPE Pass. Click for more information.
This program is included with the Strafford CPE+ Pass. Click for more information.
This program is included with the Strafford All-Access Pass. Click for more information.

Thursday, February 24, 2022

1:00pm-2:50pm EST, 10:00am-11:50am PST

Early Registration Discount Deadline, Friday, January 28, 2022

or call 1-800-926-7926

This course will examine the complexities of sales and use tax reporting requirements and offer automated solutions for dealing with the numerous and diverse sales tax requirements. Our panel of SALT experts will provide suggestions for selecting software for companies that want to streamline sales and use tax compliance.

Description

Just this year, Florida and Missouri joined all other states requiring the collection of sales and use tax on online purchases. With over 10,000 taxing jurisdictions, all business types--including manufacturing, service, resellers, wholesalers, and others--struggle to remain compliant with these varying rules and rates.

Before Wayfair, many states required a physical presence to meet nexus requirements, sometimes only a day. As before, some businesses prefer to ignore these rules rather than suffer through the cost and burdens of compliance. Like payroll taxes, sales tax collection is a fiduciary obligation. In addition to late filing fees and penalties, noncompliance can invoke "responsible party" penalties on company executives and business owners.

Many companies realize they could benefit from sales tax automation, but it too can be costly. Software providers are not necessarily SALT experts. Understanding the pros and cons of the available software packages and determining the best fit for your business requires a certain level of expertise.

Listen as our panel of sales tax experts compares and contrasts tax automation solutions for businesses struggling to meet sales and use tax reporting obligations.

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Outline

  1. Background
  2. State sales and use tax reporting requirements
  3. Potential penalties for noncompliance
  4. Considerations by business type
  5. Choosing a software package
  6. Streamlining the process
  7. Other considerations

Benefits

The webinar will review these and other critical issues:

  • Steps to follow when selecting a sales and use software package
  • Pros and cons of the most popular sales tax packages
  • Establishing internal monitoring of jurisdictional changes
  • Sales and use tax nexus requirements in certain states
  • Key considerations in determining the appropriate automation solution

Faculty

Le, Tram
Tram Le, CPA

Senior Tax Manager
TaxOps

Ms. Le is a CPA and licensed attorney specializing in tax strategies for growing businesses. She works closely with...  |  Read More

Smith, Meredith
Meredith Smith, CPA

Senior Tax Manager
TaxOps

Ms. Smith expertly weaves real-life examples into why business taxpayers, tax professionals, and tax providers should...  |  Read More

Attend on February 24

Early Discount (through 01/28/22)

CPE credit processing is available for an additional fee of $39.
CPE processing must be ordered prior to the event. See NASBA details.

Cannot Attend February 24?

Early Discount (through 01/28/22)

CPE credit is not available on downloads.

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