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Sales Tax Audits Are On The Rise. Are You Prepared?
If you’re like most organizations, an automated sales tax solution is not one of your top priorities. However, minimizing your risk for an audit is. As sales tax rules and regulations continue to change and become increasingly complex, it is becoming more and more difficult to ensure compliance. Couple that with the fact that the mere number of auditors is on the rise (an estimated growth of 22% according to the U.S. Bureau of Labor Statistics), and the realization is that sales tax should be a significant concern for just about any business.
On average, midsize companies spend over $40,000 of internal resources each year to try and achieve compliance. And you can likely double that figure if you are one of the “unlucky” ones that falls subject to an audit. Avalara’s cloud-based sales tax software can help you save both the time and money associated with an audit, while allowing you to focus on what really matters – your business. Avalara’s AvaTax Suite works seamlessly with Microsoft Dynamics GP to reduce your audit risk by providing an end-to-end sales tax solution that makes it simple to calculate rates, manage exemption certificates, file forms and remit payments.
While there is no way to guarantee that you will never be audited, Avalara can provide your business peace of mind by providing up-to-date, accurate calculations, along with proper documentation for non-taxed transactions to ensure accurate sales tax returns.
To find out more about why businesses get audited and the typical areas of non-compliance, we recommend you attend a free educational webinar on Wednesday, February 29th at 11am PT, Evil Sales/Use Tax Audits vs. Find the Tax and Relax. This webinar is part of Avalara’s recurring Sales Tax Management Thought Leadership Series.
Want to learn more? Contact Rose Business Solutions to find out more about Avalara’s end-to-end sales tax compliance and automation solutions.
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