Streamlining Sales Tax Audits

Leveraging Software and E-Records to Develop Reports That Expedite Audits

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


Conducted on Thursday, April 29, 2010

Recorded event now available

or call 1-800-926-7926
Program Materials

This CLE webinar will enable corporate sales tax specialists to make strategic use of existing software to create targeted reports that anticipate auditors' data interests and needs—and that contribute to an efficient, less time-intensive audit.

Description

Sales tax audits can easily spiral into major documentation demands that drain a corporate tax department's time and resources, but a proactive strategy can avoid this scenario. Via tax calculation or company ERP software, tax staffs can generate a variety of advance reports to satisfy auditors.

Providing auditors with well-planned reports broken down by jurisdiction, exempt transactions, business division, etc., can divert demands for a substantial transactional sample and follow-up analyses. Staff-hour savings will be major if you make an effective case for such reports.

Crafting this proactive strategy is more about deciding what data to pull, how much, and how to present it than about software interfaces. Insights from experienced tax advisors are invaluable in helping your tax staff create an effective presentation that manages the demands of the audit.

Listen as our panel of sales tax professionals offers alternatives for advance audit reports, as well as clear examples.

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Outline

  1. Why electronic files and leveraging software open opportunities
    1. Differences between electronic audits and standard audits
    2. Electronic audit isn’t necessarily statistical and can reduce need for sampling
  2. Goals for producing a pre-audit report for auditors
    1. Take more control over what, and how many, records are examined
    2. Minimize demands on staff to produce documentation for auditor
    3. Reduce number of follow-up requests for information
    4. Generally help expedite the audit
  3. Categories of possible analytical reports
    1. Transaction-based
    2. Exemption certificate-based
    3. Tax by jurisdiction-based
  4. Making an effective case for auditor to rely on these reports

Benefits

The panel will help you plan for and utilize to your best advantage reports such as:

  • Transactions reports: Without sales tax, exceeding a tax threshold, at department or division level.
  • Exemption certificate reports: Certificates on file, expired certificates.
  • Sales tax remitted reports: Tax by jurisdiction.

Faculty

Joseph Geiger
Joseph Geiger
Senior Tax Consultant
Vertex

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

James Tauber
James Tauber
Managing Director
WTAS

He has more than 30 years of experience in providing tax, technology and business consulting services in the state and...  |  Read More

Charles Collins
Charles Collins
Vice President of Government Affairs
Automatic Data Processing

He has responsibility for ADP’s relationships with taxing authorities on sales and use and value-added taxes, and...  |  Read More

Other Formats
— Anytime, Anywhere

Strafford will process CLE credit for one person on each recording. All formats include program handouts. To find out which recorded format will provide the best CLE option, select your state:

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