Webinar: Michigan Sales, Use and CIT Taxes: Take a Closer Look
Sponsored by the Michigan Association of Certified Public Accountants (MACPA)
End of the first quarter is the perfect time to review sales and use reporting to ensure 2012 will be properly reported. It is also the approach to the first CIT estimate so make sure it is properly understood. Reporting sales and use taxes can be tricky so make sure you are not paying more than is due. The CIT is now upon us so making the first estimate properly will set the stage for subsequent estimates. Discussions include:
- Understand proper reporting and possible opportunities for over-reporting
- Create a process for appropriate estimates of CIT for 2012 and other "year-end" ideas
- Understand the nuances of automated accounting: be careful of accruals without investigating what the software is doing. The automation may contain hidden refund claims. If Treasury examines the software program and identifies a refund opportunity, Treasury is required to inform the taxpayer. Treasury may, however, have an interpretation of the law that is different from the taxpayer's interpretation, and not treat a return position as a refund opportunity.
Who Should Attend
Practitioners, CFOs, controllers and tax staff charged with proper tax reporting and budgeting.