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 New Jersey Nexus Audit Group Questionnaire 2017

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[Music] so today we're going to be doing q a and our first question is from ian oh and the question is what's a 1099k audit i was told that if i don't produce the documents for a sales tax audit that they're going to do a 1099-k audit okay so there's two issues here first of all he's going through a sales and use tax audit secondly there's something to do with a 1099-k alright sales and use tax audit they're just going to make sure that he's been paying the correct amount of sales tax on all his sales uh 1099k is a statement that you get from your merchant services company so let's just say you're using merchant services at the end of the year what they're going to do is produce a 1099k form and that's all your sales in a given year okay so the biggest problem that we're going to see with the 1099k audit is the fact that 1099k itself is flawed so all the returns that you&

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