BarbriSFCourseDetails
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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Corporate Tax

Date & Time
  • event Date

    Thursday, November 7, 2024

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    110 minutes

Credit Information

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

$247.00
CPE
ALL

This course will offer corporate tax and financial professionals best practices for managing sales and use tax recovery projects. The panel will discuss how to identify potential tax overpayments and how to work through the recovery process with internal stakeholders, external consultants, and/or state representatives. The panel will also discuss the implementation of safeguards against future overpayments.

Faculty

Rachel Chinukwe (Baker)
STS - SALT Senior Manager
BDO USA

Ms. Chinukwe is a Senior Manager within BDO’s Southwest State and Local Tax practice. She has been with BDO since July 2015 and specializes in audit defenses, refund reviews, tax positions and compliance services. Ms. Chinukwe's sales & use tax experience includes analysis of purchase and sales data; preparation and review of tax reconciliations; sample generation and evaluation; IT captive procurement companies and taxability research. During her time at BDO, she has closely worked with clients in various industries including healthcare, manufacturing, agriculture, oil & gas, and retail.

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Jeffrey Monsman
Director, State & Local Tax Services
GBQ Partners, LLC

Mr. Monsman provides a variety of state and local tax services to GBQ’s clients. His practice focuses primarily on indirect taxes, including multistate sales/use taxes and real/personal property taxes. Mr. Monsman leads the firm’s unclaimed property service offering, and he also has extensive experience assisting clients with income/franchise tax matters.

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Description

To maximize cash flow, a multistate company should consider a reverse audit. Whether as part of a traditional sales/use tax audit, or done as a stand-alone project, an effectively-managed sales and use tax reverse audit can generate cash, reduce future costs, and identify opportunities for improving processes on a go-forward basis.

How do you identify potential overpayments of tax? How much staff time or external costs should a corporate tax department leader expect to invest in a reverse audit, when can it be fit in, and what quality standards are non-negotiable? After the conclusion of a reverse audit, how do you avoid future overpayments?

Listen as our panel of experienced state tax advisers prepares you for an effective reverse sales tax audit, either conducted by your staff or by overseeing the work of an outside advisory firm.

Outline

  1. When and how to effectively begin a sales and use tax reverse audit
  2. How to effectively manage and complete a sales and use tax reverse audit
  3. Leveraging technology
  4. Implementation of safeguards against future overpayments

Benefits

The panel will drill into these and other key topics:

  • Best practices for identifying tax overpayments
  • Best practices for recovering identified overpayments
  • Considerations for managing internal stakeholders, external consultants, and/or state representatives throughout the project
  • Taking steps to avoid future overpayments and implementing quality control measures

NASBA Details

Learning Objectives

After completing this program you will be able to:

  • Identify best practices for finding tax overpayments
  • Discern the steps to avoid future overpayments
  • Determine quality control measures
  • Decide how to negotiate a fair compensation agreement with a reverse audit outsource firm

  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business or public firm experience at mid-level within the organization, dealing with complex multi-state sales and use tax collecting and reporting; supervisory authority over other preparers/accountants. Knowledge of the U.S. Supreme Court's ruling in Wayfair, Multi State Tax Commission model nexus standards, and the primary nexus approaches used by most states.

Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.