Скачать или смотреть Does the auditor have to come to my office?- Remote Audits

Hi everyone,

This quick tax tip is about remote audits and the changing landscape of sales and use tax audits.

At one point in time, most audits were conducted face to face. Now most audits are conducted remotely. Due to automation, improved accounting software and even the increased popularity of scanned documents, auditors are no longer required to go out into the field and visit your business location to conduct the audit.

Taxing authorities have learned that it is cost effective to conduct audits remotely when possible. It can save on time and energy if the auditor does not have to go around town to various business locations.

Keep in mind, that there are still instances where they still may want to view your operations. Sometimes it is to verify what is onsite and understand the business. This is especially true for manufacturers. Manufacturing exemptions are so narrowly construed, auditors may request to see the manufacturing facility to can a greater understanding of the manufacturing process and how the equipment is used. Understand that although remote audits are here to stay, the taxing authority still has the right to ask to tour your facility.

The reason why audits can be remote is because of electronic records. The auditor can review your accounting records, invoices and purchase invoices via your accounting software, downloads, scanned documents, etc. That is one reason why the ability to run reports, create sortable downloads, etc. should be considered when choosing your accounting software. Ease and the ability to retrieve documents should also consider when choosing to scan documents and while recreating any document retention policies.

And that is your tax tip.

Have a great day.

Learn more about us on our website: https://thesalestaxsisters.com
Our self-help courses can be found at: https://thesalestaxsisters.thinkific....
Schedule an appointment with Mary at: https://thesalestaxsisters.com/meet-m...
Schedule an appointment with Stephanie at: https://thesalestaxsisters.com/meet-s...
You can also follow us on:
Facebook:   / thesalestaxsisters  
Instagram:   / thesalestaxsisters  
LinkedIn:   / the-sales-tax-sisters