Remove audit Remove auditor Remove Minnesota
article thumbnail

The new breed of audit

TaxConnex

In years past, auditors could show up at your door asking to look at your records. Usually, you learn about an audit through a notice or letter from the state or jurisdiction in question with instructions on how the audit will proceed. Many audits are conducted remotely, and an auditor never visits your office.

audit 245
article thumbnail

Half a dozen ways to mismanage sales tax | TaxConnex

TaxConnex

States frequently introduce new sales tax returns, such as Colorado and Minnesota for their new retail delivery fees. Audits Thankfully, you may never go through a sales tax audit. Auditors will ask for data and any replated invoices. Commercial activity taxes in Ohio and Nevada are also often missed.

Sales 264
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The Beef Between the AICPA and Minnesota Over the 150 Hour Rule Heats Up

Going Concern

That’s sort of what’s happening in the profession right now over proposed legislation in Minnesota that offers an alternative to the traditional 150 units of education required for licensure. That’s not to say Minnesota sucks, rather they are going up against the behemoth that is the AICPA.

article thumbnail

150 Hour Rule: Let’s Keep Arguing About What Color the Drapes Should Be While the House is Burning Down

Going Concern

Let’s note here quickly that many of the “anti-150” folks aren’t lobbying to abolish it completely but to offer alternative pathways such as Minnesota’s proposal to create a second pathway to licensure that would require 120 units of education and two years of experience. We needed to take some action.”

Minnesota 119
article thumbnail

Sales tax and nonprofits

TaxConnex

Minnesota exempts non-profits from collecting sales tax when the sales are for fundraising. During a sales tax audit, one of the first requests from the auditor will be for copies of all exemption certificates for any exemptions claimed on sales tax returns. Washington State gives no blanket exemption to nonprofits.

Sales 147
article thumbnail

Monday Morning Accounting News Brief: EY Morale Is Suffering After Layoffs; Ignoring Audit Quality? | 3.11.24

Going Concern

Minnesota’s proposal to add a second pathway to CPA licensure that doesn’t require 150 hours of education is moving forward in the MN Senate. But they are stepping forward in Minnesota to challenge national organizations with a grip on their industry. EY laid off 150 people three days before Christmas last year.

audit 64
article thumbnail

MNCPA to Educators: “We Do Not Need New CPAs Who Have Additional College Credits; We Need More CPAs, Period.”

Going Concern

Minnesota Society of CPAs has sent a message to educators in the state regarding legislation that would introduce an alternative pathway to CPA licensure and the message to these stewards of the next generation of accountants is clear: no one is trying to eliminate MAcc programs. It is rare that legislation is passed as originally introduced.

cpas 98