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The new breed of audit

TaxConnex

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. Fear and perception of audits are as tangible as the real examinations. Fear and loathing.

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ERC IRS Audit Representation: Your Comprehensive FAQ Guide

MyIRSRelief

ERC IRS Audit Representation: Your Comprehensive FAQ Guide The Employee Retention Credit (ERC) has been a lifeline for many businesses during challenging times, providing substantial relief. However, with the IRS actively scrutinizing ERC claims, it’s crucial for businesses to understand their rights and options when facing an audit.

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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.

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Professionals on the Move – Nov. 2024

CPA Practice

James is a frequent speaker at industry conferences and has shared his experience as an adjunct professor at institutions like the University of Minnesota Law School. RJI CPAs Welcomes Max Lewandowski as Audit Partner RJI CPAs recently announced that Max Lewandowski has joined the firm as an Audit Partner, effective October 9, 2024.

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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. Especially if you handle your compliance in house, you may have also paid local taxes to a state.

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The over-and-over process of sales tax compliance | TaxConnex

TaxConnex

Sending the states what you owe: Your filing and remittance solutions need to accommodate multiple data files and formats, e-file and paper returns, electronic payments and checks, notice management and resolution, tax calendar updates and an audit trail to minimize penalty assessments. This is a pivotal step in your compliance.

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What's New in State Sales and Use Taxes - Monthly Update

TaxConnex

Minnesota has released updated guidance regarding the state’s requirement that out-of-state marketplace providers collect and remit Minnesota sales tax if they meet the nexus threshold. Michigan has provided sales and use tax nexus guidance applicable to marketplace facilitators and sellers.

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