Maria Koklanaris for Law360 recently identified ways state tax agencies are handling tax audits during the pandemic lockdown, including remote, delayed and suspended audits and relief measures. This “pause” gives businesses some room to respond to the emergency and institute recovery measures as well as allows state tax authorities to take care of their own.
The Takeaway
These state efforts largely mirror what states are doing to protect their employees and ease back into operations as COVID-19 restrictions are lifted state-by-state. But, it is temporary audit relief.
As state tax authorities return to full capacity, pursuing tax audits and aggressive tax policies will be what states rely on to refill state coffers that are sorely depleted by the pandemic and related relief efforts. Join Judy Vorndran and Stacey Roberts as they help businesses and tax providers prepare for state tax compliance traps, enforcement actions, audits and settlement proceedings in this 110-minute CPE.
Wednesday, September 23, at 1:00 pm – 2:50 pm EDT
The panel will discuss these and other critical issues:
- Which taxpayers do states target for past unpaid liabilities?
- Which taxpayers benefit the most from a voluntary disclosure agreement?
- What are strategies to negotiate a better settlement?
- What states currently offer VDAs and amnesty agreements?
- Is it ever better to wait for the states to discover a taxpayer?s past obligations?
Outline
- Targeted multistate taxpayers
- Potential liability
- Voluntary disclosure agreements
- Amnesty arrangements
- Negotiating settlements
- Litigation
- Best practices
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