60 Minutes
Program Level: Basic
Field Of Study: Specialized Knowledge
Prerequisites: None
Instructional Method: Group Internet-Based
Who should attend? Everyone
Advanced Preparation: None
This webinar is the eighth in our new series of eight webinars. The series is called the Seven Pillars of a Successful Sales Tax Strategy and is a deeper dive into each of the seven pillars addressed in the two-part introductory webinar of the same name.
This webinar will cover audits. In our first webinar, we go over nexus and determine if you or your clients have it and how additional steps may need to be taken. Determining nexus is a crucial step in moving forward with the other pillars.
In this webinar, state tax expert Michael Fleming will cover sales tax audits and answer the question, “How do states find you?” He will discuss the purpose of audits and how companies are chosen for audits.
Mike will also go over the initial steps to take when notified of an audit and go into depth regarding the audit process. He will explain both California and non-California XYZ letters, credits and refunds, and statute of limitations. Mike will explain what the auditor may request and work through the audit and the process after the audit has concluded. Finally, Mike will discuss the five costly mistakes to be mindful of within an audit.
Key Topics:
Audit Process
XYZ Letters
Purpose of Audits
Costly Mistakes
Understanding sales tax audits can sometimes seem tricky and unclear. In this session, Michael Fleming will help clear the air with a sound common-sense approach to understanding audits. Once you know whether you or your clients have nexus or not, you will know whether you need the other six pillars of a successful sales tax strategy. They are taxability, rates, use tax, exemptions, registrations/amnesties, VDAs, returns, and audit defense.
This session is especially of interest to companies and/or their advisors who guide them through the maze of tax changes for multistate
https://us02web.zoom.us/webinar/register/WN_2VZTb2XmS6izMbr2wbQIkw