Senior finance execs and tax directors come in for a scolding in a new KPMG survey which finds that more than 40 percent of companies haven’t bothered to set up a formal policy or procedure to manage the exam process in case the IRS comes knocking on, or battering down, the door. This despite the fact that audit activity is definitely on the rise. more

A few posts back, inspired by the stunning news that Facebook’s customer satisfaction rating is even worse than that of the IRS’s e-filing program, I wrote about the giant social network’s possible future as a whistle-blower tool for tax authorities in developing countries such as the Philippines.

In a guest blog at the Tax Foundation today, Aaron Merchak stands that idea on its head and asks: Is Facebook actually on the verge of becoming a sovereign state, complete with taxes of its own? more

Got a grip on nexus? Or has it got you by the throat?

Your customer exemption management: Adept or inept?

Are your use tax processes …

a. A well-oiled machine?

b. More or less adequate?

c. What’s a use tax?

Here’s a quick way to find out. more

Earlier this month I noted (here) that for cash-strapped states, turning up the heat on unclaimed property audits is “basically a no-brainer because compliance with unclaimed property regs is so poor.”

A new poll from the Tax and Accounting Business of Thomson Reuters confirms that many companies are indeed out of compliance and, whether knowingly or not, are courting audit penalties. more

Manufacturing firms today are celebrating the House’s approval of what the National Association of Manufacturers is calling “a jobs-creating, tax-cutting, competitiveness-enhancing package” of tariff suspensions on hundreds of raw materials and other inputs to industrial processes. The bill is a regular in Congress and usually goes by the name of the Miscellaneous Tariff Bill, though this year Democrats (in pro-business mode) have given it a snazzier moniker: the Manufacturing Enhancement Act. more