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Sales Tax Preparation in House Versus Sales Tax Outsourcing

The economy is still recovering and these difficult times make it difficult for both tax authorities and tax payers alike. There are many of the sales taxing jurisdictions of the 46 states that are currently facing shortfalls in their revenue. While increasing taxes is an option, history has shown that most often the first course of action is to try to collect on existing taxes. This means that there is an increase in audit activity.

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Sales Tax Non-Compliance and Civil and Criminal Penalties

By this point, most people should be aware that the Senate passed the Marketplace Fairness Act. If it is passed by the U.S. House of Representatives and signed into law by the President, and he said he would sign in, then the Act would allow states to collect sales tax from Internet retailers. There has been a lot of contention back-and-forth about it, and there are viewpoints across the spectrum on why special group of lawmakers or businesses are in favor the law while the same number of people are against it.

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Sales Tax Audit Best Practices

In order to bolster their revenue, many states are increasing the scope and number of sales tax audits. There is more pressure on states to close budget gaps, and state revenue departments are looking for more ways to get their revenue streams flowing. With sales tax audits, states can collect additional revenue without putting new laws into place or increasing existing tax rates, and so it’s a popular method for closing budget holes. Because of this, taxpayers are getting more and more sales tax audit.

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How Sales Tax Drop Ship Rules Work?

One of the most troubling tax issues for many businesses is the issue of drop shipments. This is often referred to as a third party sale and this type of tax can affect many types of businesses including wholesalers, manufacturers, retailers, distributors, and even the end users. In order to understand how a drop shipment is taxed it is important to understand the logistics of the entire transaction.

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Sprint-Nextel faces $300 million alleged tax fraud lawsuit

Sprint-Nextel is facing a lawsuit for USD 300 million brought by the New York attorney general claiming in the third-largest US wireless carrier deliberately failed to pay sales taxes, according to Bloomberg. New York Supreme Court Judge O. Peter Sherwood denied Sprint-Nextel's bid to dismiss the case in a ruling dated 27 June 2013. He ordered lawyers for both sides to appear at a hearing on 24 July 2013. 

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Thanks to Sales Tax Accountants our company was able to avoid an expensive audit and save tens of thousands
James Turner - Retail Supply Services

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