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Sales Tax Audits in the Era of Digital Documentation

Webinar: ID# 1011770
Recorded CD
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Sales Tax Audits in the Era of Digital Documentation
About This Course:
As companies increasingly store their invoices and other sales tax documentation digitally in various formats, they must anticipate a revenue agency's decision to audit them electronically. Computer-based audits differ in important ways from traditional on-site audits, both in rules and practical realities.

The audit may end up faster and less costly, but also more complicated for the taxpayer to plan. What digital records format will the state expect, and what data integrity test will the auditor use? What e-audit technique will be used? How should access to digital records be restricted to protect confidentiality?

How will the revenue agency want to audit a company with only partially e-stored documentation, and what are the capabilities of the state's own systems to handle large volumes of e-records? Multistate companies must stay current with e-auditing trends and best practices to prepare for these audits.

Listen as our panelists improve your familiarity with state rules and procedures for electronic sales tax auditing of digital invoices and other documentation, and give tips for a corporate taxpayer's effective audit planning and management.

Outline

I. Introduction

  • Trends lending themselves to electronic audits
  • Types of transaction records that can be stored digitally

II. Examples of state electronic audit rules

III. Practical issues for corporate taxpayers

  • Acceptable digital formats
  • Data integrity tests
  • Records confidentiality and access provisions
  • What type of e-audit technique the state will use

IV. Practical issues for the state

  • Capabilities of different systems to audit large volumes of digital records

V. Planning for and managing an e-sales tax audit, as the taxpayer

Benefits:

The panel will take on e-audit issues such as:

  • Choosing a digital format for records.
  • Comparing the pros and cons of electronic detail, stratified statistical sample and electronic judgment sample audits.
  • Maintaining proper confidentiality and arranging records-access protections in advance.
  • Anticipating issues with e-audits, given systems' capabilities or limitations.

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

Upon completing this seminar, you will be better positioned to plan and manage electronic sales and use tax audits of digital invoices and other documentation, as the corporate taxpayer.

Faculty

Mark Stone, Managing Partner, Sales Tax Defense, Deer Park, N.Y.

Before starting his consulting firm, he was a New York state sales tax auditor for several years and partner-in-charge of a local office of a national SALT advisory firm. He has nearly 20 years of tax experience and also serves as an adjunct tax professor at Long Island University.


Credits Available

This program has been approved for 2.0 CPE hours through Strafford Publications. CPE Credit is available only for the LIVE webcast. Recorded versions do not qualify for credit.

Strafford is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.

Processing

To obtain CPE credit, attendees must participate in the live event, return an Official Record of Attendance to Strafford affirming their participation (including the CPE code announced during the program), and pay a processing fee of $35 per person.

Credit Confirmation

Strafford will mail a certificate of credit within approximately 2 weeks of receiving an attendee's completed Official Record of Attendance—provided all required conditions have been satisfied.


Delivery

Handout materials and the phone number for live presentations are made available to you 1 day prior to the event via email from the presenter. Copies of the presentations are included with recorded versions.

If you order a recorded version of the webinar, CD's will be mailed out approximately 10 days after the live event. Shipping is included in the price of recorded versions.


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Sales Tax Audits in the Era of Digital Documentation
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