The American Academy of Attorney-Certified Public Accountants (AAA-CPA) has already cautioned that internet retailers will become liable “for every mistake and missing piece of documentation.” In other words, tax agencies like the California Department of Tax and Fee Administration, (formerly known as the BOE) are going to step up enforcement measures. Translation? More audits, more fines, and more businesses in trouble with the law. If you’re worried that your business will be chosen for multiple sales tax audits due to noncompliance, it may be wise to consider programs like the California Voluntary Disclosure Program, which could limit the penalties you face and offers hope for those caught in the crosshairs. If your business participates in the program, the CDTFA will (1) shorten the length of time for assessing tax against you, and (2) waive various penalties. However, only “qualified entities” that meet specific criteria are eligible to participate. For example, the entity will be disqualified if it has ever been “the subject of an inquiry” (audited by the CDTFA). See full version of article here.
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SOURCE Tax Law Offices of David W Klasing, PC
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