audit Related Topics 
RogerRossmeisl
OCTOBER 20, 2024
The IRS has been increasing its audit efforts, focusing on large businesses and high-income individuals. By 2026, it plans to nearly triple its audit rates for large corporations with assets exceeding $250 million. Under these plans, partnerships with assets over $10 million will also see audit rates increase tenfold by 2026.
RogerRossmeisl
OCTOBER 13, 2024
As appearing at the IRS web page entitled “IRS Audits” An IRS audit is a review/examination of an organization’s or individual’s books, accounts and financial records to ensure information reported on their tax return is reported correctly according to the tax laws and to verify the reported amount of tax is correct.
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TaxConnex
JULY 23, 2024
The nature of sales tax audits has changed over the last several years, post-Wayfair. Prior to Wayfair, a significant component of sales tax audits was focused on use tax. This change has required many taxing authorities to pivot slightly in their approach to audits. But how do companies get flagged for an audit?
TaxConnex
NOVEMBER 12, 2024
And with sales tax, as with most other kinds of tax, that fear is of an audit. Fact is, reasons for an audit can vary from a jurisdiction’s unique methodology to audits of one’s customers or vendors to simple bad luck. Around half (41%) of businesses surveyed were audited by their home state, 45% by other states.
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TaxConnex
JULY 18, 2024
Maintaining compliance documentation is crucial for businesses to ensure smooth and successful audits. Unfortunately, many businesses find themselves unprepared when faced with an audit, lacking the necessary documentation. These certificates validate the tax-exempt status of certain sales and are vital during an audit.
CPA Practice
NOVEMBER 13, 2024
Wolters Kluwer, a provider of information, software, and services for professionals, has collaborated with The Institute of Internal Auditors’ Internal Audit Foundation on a research report: Harnessing Generative AI for Internal Audit Activities. The time to seize this unique opportunity is here.
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Speaker: Abdi Ali, Sr. Lease Accounting Consultant
Key Takeaways: Understand the hidden risks and limitations of using spreadsheets for lease accounting 🔍 Learn how spreadsheet errors can lead to financial misstatements, compliance violations, and audit nightmares 📝 Discover the benefits of adopting dedicated lease accounting software to streamline your processes and mitigate risks (..)
Speaker: Eoin Hession, Controller at Recharge
If you’ve never had the pleasure of creating a virtual card nor enjoyed the benefits of their approval workflows, automatic syncing to the GL, and continuous audit trail, join us to get up to speed on this increasingly mainstream payment innovation. This webinar will answer the following questions: What is a virtual card?
Speaker: Rita Keller - President of Keller Advisors, LLC
You've worked diligently and have built a glowing reputation grounded in your excellent skills in tax, accounting, and auditing. You're known as the “go-to” person when a client is faced with tax and financial decisions. You have a very successful firm -- but that’s not enough.
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