Sales tax is extremely complicated and can cause a whirlwind of trouble for sellers and businesses. One mistake can cost hundreds of thousands of dollars in penalties and interest. Because of this, sales tax audits can be very stressful. However, understanding audits and taking proactive steps toward sales tax compliance can help eliminate many issues that may arise.
Read MoreThe NHL's Arizona Coyotes said it has paid $1.3 million in delinquent sales taxes to Arizona after the Department of Revenue filed a public lien against the team. How did this happen? The Coyotes say that they were filing returns each month as required and inadvertently did not hit the "remit" button. They say this was not a deliberate mistake and they are taking steps to make sure it never happens again... So the questions for the rest of us? How do mistakes like this happen? How do we avoid mistakes like this? In September we spoke at the Institute For Professionals in Taxation sales tax conference on choosing a reliable sales tax partner. How do you find a reliable sales tax partner?
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