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Course Details

Commonly Encountered Sales & Use Tax Audit Issues - And Strategies To Defuse Them

Webinar: ID# 1013869
Recorded CD
Qty:
Commonly Encountered Sales & Use Tax Audit Issues - And Strategies To Defuse Them
About This Course:
States are becoming more aggressive as falling tax revenues constrain expenditures and force budget cuts. Business structures, products and services are increasingly complex with outcomes that don't always fit neatly into vaguely worded and outdated statutes.

Heightened audit activity, the states' shifting tax policies and a new wave of proposed sales tax legislation all serve to highlight the importance of staying current on tax law while minding your business operations. Failing to do so may lead to unexpected sales tax assessments upon audit.

Benefits of attending this live webinar include developing an understanding of what you can do now to minimize future audit liabilities.

We will start with an in-depth review of recent trends and legislative developments that are likely to have an impact on transactions the state's will audit and their taxability, then will focus on those issues taxpayers find most troublesome during audits from audit sampling and projection methodologies to transactions most often giving rise to liabilities as well as review some of the basic procedural issues concerning audits including statutory deadlines and common sense approaches to proactive minimization of audit assessments.

Agenda

Sales Tax Audits in Today's Economy

  • State Budgets and Audit Activity
  • Current Trends in State Tax Policy
  • Amazon® Tax
  • Affiliate and Attributional Nexus
  • Computer Software Transactions

The Audit Starts Today

  • Review and Document Business Activity
  • Review, Document and Test Sales Tax Policies and Procedures
  • Review and Test Adequacy of Record Retention
  • Review Past Audit Results

Sampling in the Audit Context

  • Judgmental Sampling vs. Valid Statistical Sampling
  • Understanding the Population
  • Preparing the Sample
  • Developing a Sampling Plan
  • Missing Items and Credits

Error Projection Methodologies

  • The Importance of Getting the Sample Error Ratio Right
  • Population Characteristics to Consider

Troublesome Transactions

  • Software and Maintenance Contracts
  • Service, Bundled, Electronic and Intercompany Transactions
  • Information Services
  • Interstate Commerce
  • Mergers and Acquisitions
  • P-Cards

Procedural Issues

  • Fieldwork
  • Assessment and Appeals

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Commonly Encountered Sales & Use Tax Audit Issues - And Strategies To Defuse Them
Available on CD format
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