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Voluntary Disclosure Process For Erroneous Sales Tax Reporting

Voluntary Disclosure Process For Erroneous Reporting

October 7, 2015
It’s every online retailer’s nightmare: a dreaded audit or costly penalties and fines for erroneous sales tax reporting. And yet, the ever-changing landscape of sales tax regulations that affects ecommerce retailers means that errors in reporting are a real possibility for even the most conscientious of vendors. Is there a way retailers can protect themselves from exorbitant fees and charges due to erroneous reporting? Voluntary disclosure may be able to help in cases where retailers realized that an error has been made. What is voluntary disclosure? For tax reporting, voluntary disclosure is a program that can waive penalties and fees… Read More

How to Fix a Sales Tax Error

April 7, 2014
Businesses are run by humans and are therefore prone to mistakes. When those mistake involves the miscalculation of sales tax, the company in error risks the loss of money or business and can incur the wrath of the state affected. By law, a vendor is not allowed to keep any income that comes from such an error, no matter how small. How can vendors be sure they haven’t made an error? What can they do to fix these mistakes and how do they prevent any in the future? The following guidelines will benefit any ecommerce shop: 1. Double check for… Read More

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