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Surviving a Sales Tax Audit: An Insider View

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.

DETAILS: Sponsored by:; Posted: July 23, 2008; Length: 10 pages; Format: PDF (132 kb); Email this abstract; These white papers are not created by the CFO.com editorial staff. In order to view these papers, you must register with CFO.com and agree to share your contact information with related product/service companies.

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