Auditors are on the move. While most businesses expect (i.e., dread) to be audited by their home department of revenue, it often comes as a surprise to learn that state tax authorities routinely send auditors to, or hire auditors from, other states to capture unreported sales and use tax revenue.
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Business growth isn’t a one-size-fits-all approach. In fact, companies expend a great deal of energy and resources deciding which pursuits will move the needle the furthest toward achieving specific goals, and where to prioritize their time and investment. Oftentimes, sales and use tax get left out of this equation, especially
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States target certain businesses for sales tax audits according to data For most companies, the mere idea of a sales tax audit is a daunting prospect, and “fingers crossed we don’t get picked” is a popular strategy. But for certain types of businesses, just doing what you do can be
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Sales tax filing and reporting rules vary between jurisdictions in major ways. Each state has unique filing schedules, forms, payment thresholds and other administrative requirements that make staying on top of returns challenging. Following a few best practices can help you avoid costly penalties and fines. Join sales tax compliance
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Use Tax: the one tax everyone forgets about Many tax experts call use tax the ‘forgotten’ tax. That’s because many companies unknowingly neglect managing it properly. The fact is use tax is a big deal. That must be why State Auditors often claim that errors is use tax are the
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In 2017, when it comes to sales tax, states are taking stances on everything from soda to streaming content, tobacco to tampons. The New Year will also bring renewed efforts by states to implement internet sales taxes and continue the legal battle to overturn existing legislation. Here is a summary
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It’s been said that by 2020, most aspects of our lives will be connected. We’re talking about the internet of things (IoT), of connecting coffee makers, lamps, ovens, refrigerators, wearable devices, you name it. Back in 2014, Forbes observed that “anything that can be connected, will be connected,” and that’s
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Almost every internet retailer asks this question at some point: “Do I have to charge sales tax?” Answering the online sales tax question is far more complex than it used to be. A good point of reference is Amazon. You may have a far different business than Amazon, but many
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A Closer Look at the Online Sales Simplification Act of 2016 The issue of online sales tax has been largely sidelined by federal lawmakers since 2013. Although three bills relating to remote sales tax were introduced in 2015 — an updated version of the Marketplace Fairness Act (MFA), the Remote
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As the 2016 year-end approaches quickly, it is vitally important that all companies make preparations for the new IRS filing deadlines. For the first time in history, the IRS is requiring that both W2s and 1099s (when reporting payments in Box 7) be submitted to the Social Security Administration (SSA)
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