Growing Sales and Use Tax Audits Pose New Challenges for Companies and Auditors
ARLINGTON, Va., Jan. 26, 2011 /PRNewswire-USNewswire/ -- With states across the country facing dire economic times, sales and use tax audits are now a fact of life for many companies across a wide array of industries according to Ryan tax experts Megan Mahony and Jeremiah Lynch. In a new BNA Tax & Accounting webinar, Sales & Use Tax Audit Issues, on January 27, Mahony and Lynch will address issues that are new to both companies and auditors alike, such as the taxability of digital goods or electronically delivered software, that are being audited aggressively.
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"It is critical for sales and use tax practitioners to have access to the most up-to-date tax research in order to protect the best interests of the companies in issue," says BNA Tax & Accounting senior tax analyst Steven Roll. "Through this webinar, attendees will better understand the major sales and use tax issues facing them in the coming year, know what to do if they have a filing requirement, and know what to do if they are audited."
In addition, Mahony and Lynch will discuss ways to mitigate potential liabilities through state voluntary disclosure agreements and amnesty. Examples of how the BNA's new Sales & Use Tax Navigator can assist the practitioner in answering these questions will also be provided.
In 60-90 minutes, the webinar will cover:
What are the major sales and use tax issues facing companies today?
- Affiliate Nexus
- Bad Debt (tax base)
- Taxability of certain transactions (digital goods, software)
- Exemptions (entity, resale, use-based)
- Local option taxes
What to do if you have a filing requirement?
- Actual filing requirements
- VDA
- Amnesty
What to do if you are audited?
- Audit provisions
- Statutes of limitations/waivers
- Refund provisions
- Interest and penalty provisions
About the Speakers
Megan Mahony is currently the Co-Practice Leader, National Tax, Ryan, Boston office. Ms. Mahony provides state and local tax consulting and tax research services to multistate corporations. Her areas of tax experience include income/franchise tax, sales and use tax, and transaction tax.
Ms. Mahony was previously the Director, SALT Knowledge Management, at a public accounting firm; Manager, Tax Audit and Appeals, at a large multistate telecommunications company; and Senior Consultant, State and Local Tax Group, at a public accounting firm.
Jeremiah T. Lynch is a Principal at Ryan and is based in the New York Office. He specializes in providing multistate tax services in a variety of industries and has experience in all areas of state and local taxation, with particular expertise in audit dispute, refund analysis, electronic commerce, and the automation of the sales and use tax function. He has extensive experience in handling audits, evaluating nexus activities, reviewing existing compliance requirements, analyzing current procedures, and recommending improvements in the management of the state and local tax function.
Before joining Ryan, Mr. Lynch was formerly the National Director of Sales and Use Taxes at two of the 'Big Four' accounting firms. He served as the chairperson of the Connecticut Managed Compliance Sub-Committee, resulting in legislation adopting the use of Managed Compliance Agreements in the state.
Sales and Use Tax Audit Issues will take place January 27, 2011, from 12:30 pm - 2:00 pm, ET. To register for this webinar and obtain further information about CLE and CPE credits, go to http://www.bnatax.com/sales-use-tax-webinar/?open&cmpid=tmtxpr2011 or call 1-800-372-1033, menu Option 6, then Option 1. The per site fee is $249.
To receive automatic, email notification of upcoming BNA webinars that may be of interest to you, go to: http://www.bna.com/emailsignup.htm
About BNA Tax & Accounting Webinars
BNA Tax & Accounting is the foremost source of tax and accounting research, news, practice tools, and guidance for tax attorneys, CPAs, corporate tax managers, estate planners, and financial accountants. Designed for today's busy practitioners, our webinars offer the same expertise and relevance that are the hallmark of all BNA Tax & Accounting resources. Conference attendees have the opportunity to ask the speakers questions, and may be eligible to earn CLE or CPE credits - all from the convenience of their own office or conference room.
SOURCE BNA Tax & Accounting
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