Surviving a Sales Tax Audit: An Insider View

Sponsored By Sabrix

Topics:

Accounting > Tax

Compliance & Governance > DOJ

Professional Services > Auditing

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Abstract:

It's one of the great negative door prizes of doing business: being selected for a sales and use tax audit. The only consolation is that these audits are a widely shared business pain. In fact, they’re practically inevitable. A recent survey revealed that 90% of mid-sized companies can expect to be on the receiving end of one or more audits or audit notices each year. Nearly 55% receive five or more annually, and an extremely “lucky” 9% get hit with 100 or more. With each audit comes weeks of effort and distraction, and the potential for tens of thousands of dollars in penalties and fees – all of which a growth-focused, mid-sized company can well do without. Yet it is growing businesses that are most at risk for being audited.

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Released: July 23, 2008

Length: 10 pages

Format: PDF (132 kb)

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