slestaxhelp2005
Junior Member
What is the name of your state? Texas
Here's a good question. A business reports it's collected sales tax to the state every month or quarter. The business then does their federal income tax. Does the IRS check with the state to see how much was reported in state sales tax. Now the reason, purchased an established business and used the companys already setup of quickbooks. Appears to have 2 sales tax accounts and the tax was underestimated to the state. I know I can file an amended to the state, but is it checked?
thanks,
Here's a good question. A business reports it's collected sales tax to the state every month or quarter. The business then does their federal income tax. Does the IRS check with the state to see how much was reported in state sales tax. Now the reason, purchased an established business and used the companys already setup of quickbooks. Appears to have 2 sales tax accounts and the tax was underestimated to the state. I know I can file an amended to the state, but is it checked?
thanks,