Description
Develop an understanding of what you can do now to minimize future audit liabilities.States are increasingly looking to audits and enforcement to raise muchneeded 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. You will learn realworld solutions for handling documentation issues and practical tips for managing the audit and auditor. This information is critical for companies seeking to streamline the audit process and help achieve better results.
Date: 2022-01-25 Start Time: End Time:
Learning Objectives
States Selections for Sales and Use Tax Audits
• Routine Audits – Large and Mid-Sized Companies
• Focused on Audit Exceptions From Other Audits
• Industry-Specific
• Random
How to Prepare for a Sales and Use Tax Audit
• Information Required for the Audit
• Self-Audit
• Internal Review by Third Party
• Is This a Good Time to File a State Refund Claim?
• Is This a Good Time to Pay Any Sales/Use Tax That Is Due?
• Has There Been Any Extraordinary Events Within the Audit Period?
• Thoughts on Where the Auditor Will Perform the Audit
Auditor Qualifications
• Auditor Background
• Conflicts With Certain Taxpayers
• Are Auditors Proficient in Accounting Matters and Sampling Approaches?
Audit Timing
• Set Office Guidelines
• Information Needed
• Sampling Method
• Statute of Limitation Waivers
• Third-Party Assistance
• Power of Attorneys
Sampling Techniques
• Statistical
• Block
• Stratification
• Actual Detail
Audit Tips
• How to Handle Missing Invoices
• Removing Extraordinary Items From Sample
• Projecting Refunds by Including in Sampling Procedures
• Find Area to Minimize the Audit Exposure
• Speaking With Next Level Above Auditor on Difficult Issues
Actual Sales and Use Tax Audit Experiences Shared
• Various Industries
• Managing Difficult Auditors
• Handing the Audit Managers Visits and Inquiries
Appeals and Negotiations
• Using External Assistance
• Protest
• Informal Hearings
• Formal Hearings
• Court Appeal
AIPB ,CPE ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.
Martin Joseph, CMI-Crowe LLP, Steve Rinaldi, CPA – Crowe LLP, Dana Vasilakos – Crowe LLP
