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The Inside Scoop of Sales and Use Tax Audits

Learn from an auditing insider how to handle an audit and what is needed to make the process run more smoothly.Every day, businesses all over the United States receive a letter from various states saying 'you have been selected for a sales and use tax audit'. Most of the people receiving these letters have never been through a sales tax audit and donít realize how much work the audit will entail. This material will go through the information that you need to know to be able to handle an audit on your own. We will start with what to do once you receive the 'audit letter' and walk you through the entire process. This topic will also advise you on how to handle your sales and use issues on a go forward basis. We will end the topic by going through some recent issues that have come up on audits that we handled on behalf of our clients. Inadequately handling a sales tax audit can lead to giving the auditors too much unnecessary information, a lot of wasted time, frustrations and most importantly a large and unreasonable sales tax assessment. This information is crucial for all professionals that may have to handle a sales tax audit at some point in their career.


Runtime: 87 minutes
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Preparing for the Audit

  • Appointment Letter (Audit Notification Letter)
  • Power of Attorney
  • Questionnaire
  • Responsible Person Form
  • Waiver
  • IDR
  • Reducing Scope of Audit
  • Sampling Form

During the Audit

  • Sample Methods
  • Research
  • Sales
  • Expenses
  • Fixed Assets

Finalizing the Audit

  • Reviewing Auditor's Work Papers
  • Request for Penalty Abatement
  • Identify Drivers of Assessment in Order to Make Changes Going Forward
  • Appeals Conference and Other Options

Audit Issues by Industry

  • Restaurants
  • Contractors
  • Professional Services
  • Wholesalers
  • Service Industry
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on January 31, 2017.

Call 1-866-352-9540 for further credit information.

  • Enrolled Agents 1.0
     
  • This program qualifies for 1.0 hours of Continuing Education Credit for enrolled agents under Treasury Department Circular #230 Section 10.6(g).
     
  • AL CPE
     
  • This course is acceptable for 1.5 live credit hour(s) through the Alabama State Board of Public Accountancy.
     
  • GA CPE
     
  • This program is applicable for CPE credit. *The Georgia State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • IA CPE
     
  • This program is applicable for CPE credit. *The Iowa State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • IN CPE
     
  • This program is applicable for self study CPE credit. *The Indiana State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • KY CPE
     
  • This Ondemand program is applicable for CPE credit. *The Kentucky State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MA CPE
     
  • This Ondemand program is applicable for CPE credit. *The Massachusetts State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MD CPE
     
  • This course is not pre-approved for CPE credit in your state however, it is applicable. *Please check the rules and requirements in your state for compliance.
     
  • ME CPE
     
  • This Ondemand program is applicable for CPE credit. *The Maine State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MI CPE
     
  • This Ondemand program is applicable for CPE credit. *The Michigan State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MO CPE
     
  • This Ondemand program is applicable for CPE credit. *The Missouri State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MT CPE
     
  • This Ondemand program is applicable for CPE credit.* *The Montana State Board of Accountancy has final authority on the acceptance of individual courses and providers. Please check the rules and requirements for CPE compliance and calculate the amount of credit hours you can claim for self study courses.
     
  • ND CPE
     
  • This Ondemand program is applicable for CPE credit. *The North Dakota State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • NH CPE
     
  • This Ondemand program is applicable for CPE credit. *The New Hampshire State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • NV CPE
     
  • This Ondemand program is applicable for CPE credit.*The Nevada State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • OH CPE
     
  • This Ondemand program is applicable for CPE credit. *The Ohio State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • PA CPE
     
  • This Ondemand program is applicable for CPE credit. *The Pennsylvania State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • TX CPE 1.5
     
  • Lorman Business Center, Inc. has registered with the Texas State Board of Public Accountancy as a CPE Sponsor. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program. This program qualifies for 1.5 hours of continuing professional education.
     
  • VA CPE
     
  • This Ondemand program is applicable for CPE credit. *The Virginia State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • WA CPE
     
  • This Ondemand program is applicable for CPE credit.* *Please check the rules and requirements in your state for compliance.
     
  • WY CPE
     
  • This Ondemand program is applicable for CPE credit. *The Wyoming State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • Arizona CLE 1.25
     
  • CA MCLE 1.25
     
  • GA CLE 1.5
     
  • HI CLE 1.25
     
  • IL CLE 1.25
     
  • ME CLE 1.0
     
  • MO CLE 1.8
     
  • MT CLE 1.5
     
  • NJ CLE 1.7
     
  • NV CLE 1.0
     
  • VT CLE 1.25
     
  • WA CLE 1.25
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.25
     
  • CA MCLE 1.25
     
  • HI CLE 1.25
     
  • IL CLE 1.25
     
  • ME CLE 1.0
     
  • MO CLE 1.8
     
  • MT CLE 1.5
     
  • NJ CLE 1.7
     
  • NV CLE 1.0
     
  • VT CLE 1.25
     
  • WA CLE 1.25
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Keisha Paton

Keisha Paton

CohnReznick LLP

  • Tax Associate with CohnReznick LLP
  • NJCPA member
  • B.S. degree in accounting, City University of New York - College of Staten Island
Scott Smith

Scott Smith

CohnReznick LLP

  • Director with CohnReznick LLP's State and Local Tax Practice and Tax Controversy Group with more than twenty years of experience in the multi-state sales and use tax area
  • Has a broad range of experience working with publicly held companies for a diverse group of industries, including manufacturing and distribution, research and development, biotechnology, construction, and retail
  • Has provided various services to Fortune 100 and 500 clients, including sales/use and property tax systemís implementation and compliance, audit defense, reverse audits, nexus studies, taxability matrices, cost component analysis, voluntary disclosure agreements, tax planning, and consulting
  • Monitors sales and use tax law changes in the U.S. and drafts tax alerts for the firm
  • Frequent speaker at the firmís Financial Manager Learning Forum and Nexia SALT conferences
  • B.S. degree in accounting, Dominican College
Yehuda Weinman

Yehuda Weinman

CohnReznick LLP

  • Senior Tax Associate at CohnReznik LLP
  • NYSSCPA and AICPA member
  • B.S. degree in accounting, Touro College
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

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Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 399676
Published 2017
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