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Sales and Use Tax Audits - Webinar

  • ID: 4071070
  • Webinar
  • 100 Minutes
  • Lorman Business Center, Inc.
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Develop an understanding of what you can do now to minimize future audit liabilities.

States are increasingly looking to audits and enforcement to raise much needed revenue. Technology advances are increasing the use of newer audit methodologies such as statistical sampling. Auditors and supervisors are taking increasingly aggressive positions on tax matters and documentation requirements. This topic will enable viewers to better prepare for sales and use tax audits in the current tax climate. Learn the advantages and challenges presented by various audit sampling methodologies, real world solutions for dealing with documentation issues and practical tips for managing the audit and the auditor. This information is critical for companies seeking to streamline the audit process and help achieve better results.

Learning Objectives
  • You will be able to discuss the advantages for a pre audit review to identify exposure and overpayment areas to better manage the audit.
  • You will be able to identify the different sampling methodologies that are practiced by the state tax authorities.
  • You will be able to describe the benefit of speaking with audit supervisors regarding disagreements and gray areas.
  • You will be able to review the importance of correct procedures to prevent a reoccurrence of the sales tax exposure areas.
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States Selections for Sales and Use Tax Audits
  • Routine Audits for Large Taxpayers
  • Audits Selected From Audit Exceptions From Other Audits
  • Industry Specific; Random
How to Prepare for a Sales and Use Tax Audit
  • Pull All Sales Tax Returns
  • Gross Sales Reconciliations
  • Exemption Certificate Review
  • Identify Extraordinary Events Within Audit Period
  • Perform Internal Pre-Audit on Samples
  • Review the Capital Asset
  • Establish Working Space for the Auditor
Sampling Techniques
  • Statistical; Block
  • Stratification; Actual Detail
Audit Timing
  • Statute of Limitation Waivers
  • Jeopardy Assessments
  • Including Current Periods in Audit
Audit Tips
  • How to Handle Missing Invoices
  • Removing Extraordinary Items From Sample
  • Projecting Refunds by Including in Sampling Procedures
  • Privilege Tax States, Purchaser Not Responsible for Tax
  • Speaking With Next Level Above Auditor on Gray Issues
Appeals and Negotiations
  • Using External Assistance
  • Protest
  • Informal Hearings
  • Formal Hearings
  • Court Appeals
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Judy D. Harris, E.A., CMI - Crowe Horwath LLP, Martin Joseph, CMI - Crowe Horwath LLP
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This webinar is designed for accountants, CFOs, controllers, accounts payable professionals, tax managers, presidents, vice presidents, bookkeepers, tax preparers and enrolled agents.
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