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How to Maintain Compliance Documentation for Sales Tax Audits | TaxConnex

TaxConnex

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.

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How not to tank your sales tax audit (part 2)

TaxConnex

The sales tax audit can be one of the scariest – and costliest -- things an online business ever goes through. If you do get hit with an audit, it’s critical to handle the process correctly. Last time we looked at mistakes companies make leading up to an audit (Check out part 1 here). Those under audit often react emotionally.

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Navigating IRS Tax Audits: Audit Representation by Mike Habib, EA

MyIRSRelief

When the IRS decides to audit your tax returns, the experience can be daunting and stressful. An IRS tax audit is essentially a review of an individual’s or organization’s accounts and financial information to ensure information is reported correctly according to the tax laws and to verify the reported amount of tax is accurate.

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Legal Expert Recommends Regular Audit of AI Tools Used for Employment

CPA Practice

Consider having an outside vendor help audit the tool before and after implementation, to monitor for and correct for any potential disparate impact on protected groups. Should human resource and payroll departments be represented for internal/external audits? If you can articulate a business need or advantage to using A.I.

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Tax Audit Representation: A Step-by-Step Guide

MyIRSRelief

Tax Audit Representation Learn how to navigate tax audits with confidence. Facing a tax audit can be a daunting experience, but with the right representation, you can navigate the process with confidence. For professional audit representation help call us at 1-877-788-2937.

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Navigating Cannabis Tax Compliance, Audits, and Section 280E

MyIRSRelief

The cannabis industry is one of the fastest-growing sectors in the United States, with more states legalizing its use for medicinal and recreational purposes. However, despite state-level legalization, cannabis remains a Schedule I controlled substance under federal law. Late or inaccurate filings can trigger an audit.

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3 Benefits to a Voluntary Disclosure Agreement

TaxConnex

A voluntary disclosure agreement (VDA) is a legal means for taxpayers to self-report back taxes owed for income, sales, property, and other tax types. If you own a small company, the penalties levied by governments in an audit could do serious damage to your financial stability. Penalty abatement. ?While

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