Are Your Audit Info Ducks in a Row?

Posted by Traci WheelercloseAuthor: Traci Wheeler Name: Traci Wheeler
Email: traci@redmoonsolutions.com
Site: http://blog.redmoonsolutions.com
About: Traci is a member of the executive leadership team and leads our sales and marketing efforts at Red Moon Solutions. She has over ten years of software business experience serving small and large clients in a variety of industries.See Authors Posts (120) on Jul 28, 2011 in Audit, Empowerment Series, Software, Tax | 0 comments

As part of our Empowerment Series, aimed at bringing together the collective voices of authorities on such matters as Workplace, Innovation and Industry in tax, we will periodically be polling our readers to understand and share more of their experiences.

With Federal and state governments scrambling to generate revenue, tax audits have been on the rise. Corporations are being subjected to far greater scrutiny than they have been in the past. Resources required to manage these audits have put a strain on most tax departments.  This year, particularly, we have seen an increase in the number of conference sessions devoted to audit issues and challenges, and have written several posts to share with our readers, including a post on state tax audit and appeals strategies and one providing more information on what auditors really need.

State tax audits are on the rise. If you haven’t had this happen to you yet – just wait – and plan on it. Posted by Guest Contributor: Sam Hodges

Posted by ContributorcloseAuthor: Contributor Name: Staff Contributor
Email: sarablueintl@gmail.com
Site: http://www.redmoonsolutions.com
About: See Authors Posts (4) on Apr 28, 2011 in April, Audit, Audit, Blog, Guest Post, Tax | 5 comments

You receive an inconspicuous-looking letter with your state’s seal, small but visible in the corner. Addressed to you. Oh – and you didn’t think anyone (let alone your home state) would be interested in you – but here it is: you are the lucky recipient of an audit notification. After your heart calms down a little, and your mind clears (a couple of good deep breaths do help) you read more, and realize they want this experience to take place in your office – IN BROAD DAYLIGHT! [At least your doctor has the decency to do it in private, with curtains and a paper gown.] AND it will cover several years!!! After you regain your composure (and dust yourself off if you fainted) you should call you accountant(s) and break the news.

Our Most Popular Posts of 2010

Posted by Traci WheelercloseAuthor: Traci Wheeler Name: Traci Wheeler
Email: traci@redmoonsolutions.com
Site: http://blog.redmoonsolutions.com
About: Traci is a member of the executive leadership team and leads our sales and marketing efforts at Red Moon Solutions. She has over ten years of software business experience serving small and large clients in a variety of industries.See Authors Posts (120) on Jan 17, 2011 in Audit, Blog, Leadership, Motivation, Software, Tax | 0 comments

Our Most Popular Posts of 2010

Well, 2011 has started with a bang here at Red Moon Solutions.  We have a lot of exciting things planned for the blog this year, and we look forward to sharing them with you.   While we were sitting around talking about what we would be doing in the New Year, we thought maybe our readers might enjoy a list of our most popular blog posts of 2010.

Playing the Tax Audit Lottery?

Posted by Kelley LearcloseAuthor: Kelley Lear Name: Kelley Lear
Email: kelley.lear@redmoonsolutions.com
Site: http://blog.redmoonsolutions.com
About: Kelley is a member of the executive leadership team and leads our sales and marketing efforts at Red Moon Solutions. Kelley’s extensive experience in project management, product management, and consulting with Fortune 500 and Global 1000 clients is extremely important in this role.See Authors Posts (127) on Sep 7, 2010 in Audit, Blog, Compliance, September, Software, Tax | 0 comments

This blog is in response to a recent New York Times article entitled: “IRS Plan to Uncover Companies’ Tax Strategies”.

It’s always interesting when the Wall St. Journal or New York Times writes an article related to corporate tax departments or corporate tax issues…other than when “material weaknesses” are cited in an overarching article on a more global topic. Occasionally the articles comment on legislation but do not delve into any implications for corporate tax departments: the article in the New York Times on August 24, 2010 by David Kocieniewski did just that―albeit a bit late as we in industry have been talking about this for some time already.

Appeals Attacks: What The States Aren’t Telling You.

Posted by Kelley LearcloseAuthor: Kelley Lear Name: Kelley Lear
Email: kelley.lear@redmoonsolutions.com
Site: http://blog.redmoonsolutions.com
About: Kelley is a member of the executive leadership team and leads our sales and marketing efforts at Red Moon Solutions. Kelley’s extensive experience in project management, product management, and consulting with Fortune 500 and Global 1000 clients is extremely important in this role.See Authors Posts (127) on Jul 13, 2010 in Audit, Blog, Events, July, Tax | 0 comments

While at the IPT Conference, I was lucky enough to attend a great session called “After the Audit and Through the Appeal moderated by Michael McLoughlin Esq. (Partner Reed Smith), and joined by Tov Haueisen (Senior Tax Manager – General Electric Company) and Neal Meadows, CPA (Clear Channel Communications, Inc.). The session covered the handling of corporate income tax controversy matters from audit to formal appeal. It also covered the differences between various state audit and appeal procedures, formalizing and filing appeals and moving/resolving the matter through the appeals process.