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7 Habitual Mistakes Companies Make – Chapter 7 (10)



TaxConnections Blog Post
Communication to Eliminate Tax Risk –
Tax Risk Management Web Interface System —V1.01 –

On-the-Radar Screen Issues

This is one of the key areas. This displays all tasks that have been identified by the tax team as risk areas within the organization and are known to the IRS. These risks have been quantified, and a total value of the overall tax risk exposure is displayed.

Off-the-Radar Screen Issues

This is another key area. This displays all tasks that have been identified by the tax team but not known by the IRS. These risks have been quantified, and a total value of the overall tax risk exposure is displayed.

Tax Planning

Once a tax risk has been resolved it becomes a potential opportunity for tax planning. This section quantifies each tax planning project, showing an overall tax planning value as well as the completion status.

For additional information on the development of the Tax Risk Management Web Interface, and to access useful templates, look at www.7taxrisks.com.

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International Tax Attorney, EA, US Tax Court Practitioner in the USA, Counsel of the High Court in South Africa, adjunct Professor of International Tax at Thomas Jefferson School of Law.

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