Get a heads up about risk and potential audits.
Sales tax audit simulations are designed to mimic actual sales tax audits conducted by the government. An analysis like this can help businesses better understand the audit process, identify areas where they may be at risk for noncompliance, and prepare for potential audits.
During a sales tax audit simulation, we work with businesses to review the financial records, sales documentation, and other relevant information to determine if the business has properly collected and remitted sales tax to the government.
Additionally, we may identify potential exemptions or discounts that the business may be eligible for and any potential errors or overpayments.
By participating in a sales tax audit simulation, businesses can proactively identify areas where they may need to improve their sales tax compliance practices. This can help them avoid costly penalties and interest charges resulting from noncompliance.
State and Local Tax Planning Services for Your Business
Please contact the State and Local Tax team at DHJJ if you have further questions or are interested in us providing a sales tax audit simulation.
SALT Services Include
Mitigate business risk and strategically plan for tax liabilities with state and local tax services from DHJJ that include:
- State tax returns
- Local tax returns
- Apportionment
- Nexus studies
- Registration
- Simulated sales tax audits
- Voluntary disclosure
Areas We Service
Make your business stronger and your life simpler. Listed below are the areas we service! Please reach out if you do not see your location listed!
- Elk Grove Village, IL
- Joliet, IL
- Rockford, IL
- Elgin, IL
- Springfield, IL
- Peoria, IL
- Champaign, IL
- Waukegan, IL
Recent insights
Tax-Smart Retirement Planning for Business Owners
Key points Business owners have retirement plan options beyond standard IRAs. Solo 401(k)s, SEP IRAs, SIMPLE IRAs, and…
Developing a Long-Term Financial Vision in Times of Uncertainty
Key Points You can’t eliminate economic uncertainty but can prepare by setting clear goals and building flexible financial…
Operating Budget vs. Capital Budget: What’s the Difference and Why It Matters
Key Points: Operating budgets manage short-term expenses like payroll and rent, guiding day-to-day business decisions and supporting cash…
