The Top Tax & Accounting Mistakes
A Look at the Most Costly Corporate Tax & Accounting Mistakes
Despite U.S. organizations' increasing reliance on internal tools and technology, the potential for human error remains. In tax and accounting departments, any number of manual mistakes can lead to costly, damaging consequences. Consider this: in 2013, U.S. businesses amassed almost $7 billion in IRS civil penalties due to inaccurate reporting.
The infographic below, based on a recent Bloomberg Tax survey of U.S. in-house tax and accounting professionals, details some of the top mistakes plaguing businesses today, from technological pitfalls and regulatory confusion to organizational blunders.