Managing Transaction Tax Audit Risk:How to Protect Cash Flow by Proactively Addressing Audits

Managing Transaction Tax Audit Risk:
How to Protect Cash Flow by Proactively Addressing Audits

With state budget deficits mounting, income tax shrinking, and federal help drying up, states have become more creative in targeting additional products and services to tax, and more aggressive in collecting that tax. This is not welcome news for businesses already reeling from the recession. Companies now have to stay afloat during the downturn and must stay on top of new tax laws and trends, preserve cash in the face of proliferating audits, and figure out how to reduce operational costs.

This paper presents a proactive survival guide to sales and use tax audits based on knowledge collected from real-life past and present auditors who were queried to what they look for in an audit. It provides information to help you understand you company's exposure to audits and how to avoid them from the start, coupled with proven strategies for minimizing their affect on your bottom line.

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