The SALTcast
Welcome to "The SALTcast," your go-to podcast channel for unraveling the intricate world of sales tax. If you're a business owner seeking clarity on sales tax regulations, or a seasoned CPA aiming to provide your clients with impeccable guidance, this podcast is tailored just for you.
Hosted by industry experts from Peisner Johnson, the SALES TAX PEOPLE, with decades of experience in the field, "The SALTcast" is a comprehensive resource designed to demystify the complexities of sales tax and empower you with actionable insights. Our mission is to equip you with the peace of mind, knowledge, tools, and strategies necessary to navigate the ever-evolving landscape of sales tax regulations, ensuring compliance while optimizing financial outcomes.
What You Can Expect:
In-Depth Discussions: Dive into thought-provoking conversations that break down sales tax concepts, regulations, and challenges. Our experts delve into the nuances, sharing real-world scenarios and practical solutions.
Guidance for Business Owners: Whether you're a small business owner or a large enterprise, understanding sales tax is pivotal. "The SALTcast" offers advice to help you grasp the essentials. And, give you the peace of mind you need.
CPA Insights: If you're a CPA, you understand the vital role you play in guiding your clients through the intricacies of sales tax compliance. Join us as we explore different topics you need to know to help your clients.
Real World Examples: Learn through real-world examples and case studies that illustrate how businesses have successfully managed their sales tax obligations. Uncover strategies that you can implement to enhance your own practices.
Why "The SALTcast"?
Subscribe to "The SALTcast" today and embark on a journey towards understanding sales tax. Whether you're looking to enhance your business's financial health or provide exceptional guidance to your clients, our podcast will empower you to make informed decisions and thrive in a complex tax environment.
Tune in to "The SALTcast" on your favorite podcast platform and embark on a transformative learning experience. Your sales tax journey starts here!
The SALTcast
Episode - 169 How To Correct Past Sales Tax Non Compliance
In this conversation we discuss amnesty programs, non-compliance, and remedies for businesses that need to become compliant with sales tax regulations. We emphasize the importance of understanding nexus and taxability, as well as seeking second opinions to avoid bad advice. We explore the pros and cons of registration and voluntary disclosure agreements as methods for achieving compliance. Our conversation concludes with a discussion on the value of educational and informative calls to help businesses make informed decisions and find peace of mind in their sales tax compliance.
Takeaways
- Amnesty programs that offer limited look back periods and waive penalties and interest are not commonly seen in the current sales tax landscape.
- Businesses often find themselves in non-compliant situations due to lack of awareness or denial of their sales tax responsibilities.
- The two main remedies for non-compliance are registration and participation in voluntary disclosure agreements.
- It is important to seek second opinions and collaborate with trusted advisors to avoid bad advice and make informed decisions.
- Facing compliance and getting a second opinion can help businesses achieve peace of mind and mitigate potential liabilities.
Chapters
00:00
Amnesty Programs and Limited Look Back
06:22
Recognizing Non-Compliance and Bad Advice
08:23
Understanding Nexus and Taxability
14:43
Remedies for Non-Compliance: Registration and Voluntary Disclosure Agreements
25:17
Avoiding Bad Advice and Seeking Second Opinions
28:20
The Importance of Facing Compliance and Getting a Second Opinion
32:38
Choosing Between Voluntary Disclosure Agreements and Registration
33:06
Educational and Informative What's Next Calls
34:09
Promoting Peace of Mind and Contacting The Sales Tax People