ATLANTA, GA PRWEB September 8, 2011
2 min read
TaxConnex. Continuing To Redefine The Sales Tax Outsourcing Industry.
Topics: sales tax compliance sales tax sales tax audits Now it's all on us sales tax filing
1 min read
Sales Tax Nexus Hot Water
Nexus is a frequent topic of conversation with my clients – especially those that are considered small or mid-market businesses. There’s a perception that sales tax nexus equals income tax nexus. This is often promulgated by CPA firms that apply income tax nexus principles to sales tax nexus. This can be troublesome in certain situations. Take this example, a sales rep travels into North Dakota three days per-year to meet with clients and new prospects. Additionally, there’s a one-day trade show where this business displays their products. Orders are never accepted in the state. In this situation, the “frequent” visitation would likely meet the sales tax nexus threshold but the fact that orders are not accepted in the state would lead me to conclude that income tax nexus does not exist. So let’s follow this through. This business’s CPA firm rightfully determines that income tax nexus does not exist. However, the same assumptions used to confirm income tax nexus, when carried through to sales tax yields an incorrect result. Now, North Dakota sends a nexus questionnaire to the business and thinking they have nothing to worry about, the business fills out the questionnaire accurately. Much to their surprise, this business receives a notification that they need to register for sales tax purposes and North Dakota is scheduling an audit to review their prior activity and assess tax, penalties, and interest. Now the business is in hot water!
Topics: sales tax nexus sales tax audits
2 min read
What Triggers a Sales Tax Audit?
A sales tax audit can be your worst nightmare as a business owner or operator. Even in the best case scenario, you’ll lose incredible amounts of productivity cooperating with state authorities who have an unbelievably frustrating eye for detail. In the worst case scenario, you’ll end up with a huge bill you weren’t expecting. Here are some things that can trigger a sales tax audit.
Topics: sales tax sales tax audits
1 min read
Sales Tax Audit Frustration
Recently, I’ve had several discussions with companies about a sales tax audit assessment they’ve received. They come to me in an attempt to negotiate a settlement with the state. The problem is that they were clearly at fault and are now struggling with the reality of paying the back taxes, penalties, and interest. There’s typically not much I can do in this situation unless they are willing to pursue an offer in compromise which requires the tax payer to share their financial details with the state…essentially proving that the full payment of the assessment will put them out of business. The angle is that the state is better off accepting some percentage of payment on the initial assessment while keeping the company in business long-term…ideally yielding a bigger financial gain long-term.
Topics: sales tax sales tax audits
1 min read
Tennessee woman arrested for sales tax evasion.
Every so often, someone will say "Jeff, if I don't remit the sales tax, what's the worst that can happen? I'll just pay the penalty".
Topics: sales tax compliance sales tax audits VDA
3 min read
Who's Minding the Sales Tax Shop?
Topics: sales tax compliance sales tax sales tax audits sales tax filing
2 min read
Where Will the Sales Tax Money Come From?
Topics: sales tax nexus sales tax compliance sales tax sales tax audits
1 min read
TaxConnex Launches TaxConnex Emergency Response(SM)
Atlanta, GA
(PRWEB) April 07, 2011
TaxConnex, America’s leading independent sales and use tax compliance and consulting firm, announces the launch of TaxConnex Emergency Response(SM). TaxConnex Emergency Response(SM) provides immediate professional assistance to businesses that are facing looming sales and use tax issues.
TaxConnex’s unique and flexible organization enables TaxConnex Emergency Response(SM) to assign top tier professional help to urgent situations, immediately and without “emergency up-charges”. Using a team of experienced Sales and Use Tax professionals, TaxConnex Emergency Response(SM) is available, immediately, to work on time critical issues such as sales tax returns, assessment mediation, audit defense, notice clearance, penalty/tax abatement and taxability/nexus/applicability issues.
“TaxConnex is unique in that we are an independent compliance and consulting firm, so we are nimble and able to react more quickly than larger firms”, says Doug Starr, CEO and co-founder of TaxConnex. “With TaxConnex Emergency Response(SM), we can begin to help with an issue on-the-spot, which is a tremendous benefit to businesses facing immediate and potentially expensive issues. We know that these critical issues cost money every minute they are open. We have the resources to handle them quickly, professionally, and with no emergency up-charges.”
About TaxConnex. TaxConnex is America’s leading independent Sales and Use Tax compliance and consulting firm. Using a team of experienced sales tax practitioners, TaxConnex provides sales tax outsourcing, sales tax consulting and sales tax emergency response services to small and mid-sized businesses, large businesses, and VoIP providers. TaxConnex also provides services to CPA firms via TaxConnex CPA Advantage.
To learn more, contact TaxConnex, LLC.
brian.greer@taxconnex.com
877.893.5304 x708
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Topics: sales tax compliance sales tax audits
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Topics: sales tax compliance sales tax sales tax audits sales tax filing
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Topics: sales tax sales tax audits sales tax filing
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Topics: sales tax compliance sales tax sales tax audits CPA
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Topics: sales tax compliance sales tax sales tax audits CPA
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Reverse Sales and Use Tax Audits - Watch Out!
There are a lot of sales and use tax firms that pitch their process of performing some type of reverse sales tax audit, or overpayment review, where the client has limited to no risk with the potential for a big payday.
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