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5 Steps to Decrease A Sales Tax Audit
1. 5
STEPS TO DECREASE
THE RISKS OF A
SALESTAXAUDIT
1. Utilize correct or consistent data.
2. Provide training.
3. Prevent complacency.
4. Create time.
5. Conduct self-audits.
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Businesses need to be diligent
about monitoring and improving
their data on a regular basis.
The tax team needs ongoing
training to mitigate costs
associated with constant legislative
and judicial changes.
Keeping the same compliance structure
in place without modification supports
a repetitive activity rather than an internal
consulting mode.
Because compliance can be
burdensome, companies must
allocate the necessary time
needed for continued analysis.
If not, they will not reap the benefits
from proactive planning.
A periodic self-audit can identify and
correct red flags rather than letting
them go unchecked for long periods of
time, and can also be an ongoing
method utilized to prevent mistakes.
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