Learn how today's elevated audit risk is impacting your cash flow, and what you can do about it.

Tax audits are increasing in pace, scope and severity as a result of the economic conditions. This paper:

• Discusses the new burden of transaction tax compliance, with an eye towards helping businesses preserve cash before, during and after a tax audit.
• Examines the rising internal costs of compliance as a result of the current economic downturn.
• Provides a roadmap for how companies can be proactive in preserving precious cash as they meet their mounting compliance obligations.

Tax audits are increasing in pace, scope and severity as a result of the economic conditions. Read this paper from Sabrix to learn how today’s elevated audit risk is impacting your cash flow, and what you can do about it.

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"Cash is King: Minimizing Audit Risk to Protect Cash Flow"

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Cash is King: Minimizing Audit Risk to Protect Cash Flow

INTRODUCTION
This is not your old transaction tax compliance environment. Audits are increasing in number and severity as collapsing businesses are no longer remitting and entire industries are getting rocked by the difficult economy. Looking to make up dire budget shortfalls, states are reviewing new transaction tax legislation and becoming much more aggressive with their tax audits.

More auditors are on the streets and they are digging deeper, looking for possible areas of non-compliance that were not challenged in previous audits, and leaving businesses struggling to prepare and come up with required information.

As a result, a process that was once onerous for the vast majority of companies – transaction tax compliance – is now even more of a stress test for businesses and their ability to hold onto their cash. Companies are having to expand their nexus awareness, nexus determinations are becoming increasingly complicated, understaffed tax departments are having to conjure up appropriate reserves, and the chances of being penalized for not getting everything exactly right are mounting daily.

This paper discusses the new burden of transaction tax compliance, with an eye towards helping businesses preserve cash before, during and after a tax audit. It examines the rising internal costs of compliance as a result of the current economic downturn. And it provides a roadmap for how companies can be proactive in preserving precious cash as they meet their mounting compliance obligations.

ABOUT SABRIX
Sabrix, Inc. is a leading provider of transaction tax management for companies of all sizes, enabling finance, tax, and IT professionals to achieve accurate, timely, and cost-effective compliance for sales tax, use tax, Value Added Tax (VAT), excise tax and industry-specific taxes and fees.

The Sabrix Solution combines the Sabrix Application Suite software for sales tax, use tax and value-added tax automation with Sabrix Tax Research, delivering SAS 70 certified tax rates and rules for the U.S. and 170 countries.

The company also offers the Sabrix Managed Tax Service™ (MTS), an outsourced transaction tax compliance service that helps finance departments of small- and medium-sized businesses eliminate the hassle, control their audit exposure, and reduce the total cost of compliance.

Sabrix MTS seamlessly integrates with a company’s existing accounting and e-commerce systems, and, similar to outsourced payroll services, operates as a trusted extension of a company’s finance department to address tax compliance from start to finish: address validation, tax rate maintenance, tax determination and calculation, returns preparation and filing as well as audit research and documentation.

For more information, please visit www.sabrix.com.

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