Gain a better understanding of what to expect during a sales and use tax audit and how to respond to an auditor’s request.
States rely on sales and use tax audits to ensure compliance among registered taxpayers. With the rise of remote sellers post-Wayfair, states are auditing more than ever to ensure applicable businesses are registered and are complying with sales and use tax collection rules and regulations.
It is now more important than ever to understand the entire process, from selection through appeals, and how to expertly navigate a Sales and Use Tax audit. This course will give you the inside scoop on how to identify the important factors involved in state sales and use tax audits and how to communicate and work with taxing jurisdictions.
The material will assist you with addressing the initial audit letter and guide you on how to best respond to an audit inquiry. You will be educated on the right reference tools to consider when undergoing a sales and use tax audit and how to be better prepared overall.
Learning Objectives
- You will be able to describe how sales and use tax audits function from start to finish.
- You will be able to discuss the importance of proper documentation.
- You will be able to identify areas where your client or business may have tax exposure on a sales and use tax audit.
- You will be able to recognize why meeting critical timelines is essential when it comes to discussions with taxing jurisdictions.
Agenda
Sales and Use Tax Background
- Relevant High-Level Court Cases Pre-Wayfair
- Life After Wayfair
- Sales and Use Tax Nexus
Taxability and Compliance Overview
- Products and Services
- Sales and Use Tax Reporting
State and Local Tax Audits: The Good, the Bad, and Promoting Your Career
- Pre-Audit
- Audit Selection
- Top Sales and Use Tax Audit Areas
- Navigating the Audit Process
- Documentation, Documentation, Documentation
Reverse Audits
- Overview
Audit Appeals
- Non-Traditional Appeals Processes
Speakers
Daniel Thompson, CPA, CMI,
Thompson Tax & Associates, LLC- President of Thompson Tax & Associates, LLC
- Founded the company in 2002
- 35 years of sales/use tax experience in both government and public accounting
- Adjunct professor lectures on taxation at Golden Gate University’s State and Local Tax Program
- Member of the American Institute of CPAs, the California Society of CPAs, and the Institute for Professionals in Taxation (IPT)
- Served as chairman of the California Society of CPAs Sales and Use Tax Symposium
- Founding member of the Independent SALT Alliance (ISA)
- B.S. degree in accounting, California State University, Long Beach
- Can be contacted at daniel.thompson@thompsontax.com
Who Should Attend
This live webinar is designed for accountants, controllers, CFOs, tax managers, presidents, vice, presidents, business owners and managers, bookkeepers, tax preparers, and enrolled agents.
