Use Tax Accrual: Managing Systems and Personnel to Address Tax Risk

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


Conducted on Wednesday, March 27, 2013

Recorded event now available

or call 1-800-926-7926
Program Materials

This teleconference will provide tax staff and managers with effective approaches to review use tax accrual policies and procedures to improve compliance and minimize risk of an audit assessment.

Description

Tax specialists at many companies big and small might admit their use tax accrual procedures are not what they should be. This can become a dangerous vulnerability at a time when financially stressed state and local governments regard business use tax compliance as low-hanging fruit for audits.

Company tax departments may do a substandard job with accruals because they haven't kept up with swiftly evolving state laws in areas such as software-as-a-service delivery. It's often also a struggle to properly interact with multiple AP or GL systems or to implement clear procedures for staff.

Businesses involved with numerous sales for resale or purchases from remote vendors with no physical presence in their states need to diligently manage the use tax accrual process, at the proper tax rates. You will benefit from hearing experiences and best practices from state tax advisors.

Listen as our panelists review common exposures in use tax accrual and offer general approaches to improvement that will benefit companies in multiple industries.

READ MORE

Outline

  1. Staff policies and procedures with regard to use tax accrual
  2. Improved interactions with systems
  3. Leveraging tools such as direct pay permits to best use
  4. Special issues with use tax accruals for particular industries, due to evolving tax law

Benefits

The panel will explore these and other relevant topics:

  • Identifying staff members to assign primary responsibility for tracking use tax, and setting policies and procedures for them.
  • Implementing more effective procedures to work with AP and GL systems on use tax accrual.
  • Structuring a better approach with vendor tax validation.
  • Leveraging tools such as direct pay permits.

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

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

Thomas Smith
Thomas Smith

Partner
HoganTaylor

He leads the firm’s State and Local Tax Practice and has more than 20 years of SALT experience. Previously in...  |  Read More

Other Formats
— Anytime, Anywhere

On-Demand Seminar Audio

$247

Download

CPE Not Available

$247