HB 943 Summary - Department of Revenue's Certified Audit Program

• Increases interest abatement for taxpayers requesting certified audit participation after receiving audit notice from $15,000 to $25,000, and raises the percentage of excess interest abated from 15% to 25%

• Authorizes taxpayers to participate in the certified audit program even after the Department of Revenue issues notice of intent to conduct an audit, with reduced interest abatement incentives compared to pre-notice participation

• Specifies that certified audits cover sales and use taxes under chapter 212 and local option taxes under sections 125.0104 and 125.0108, and establishes detailed procedures, deadlines, and notification requirements for qualified practitioners and taxpayers

• Authorizes the Department to adopt rules prohibiting qualified practitioners who conduct certified audits after an audit notice is issued from representing the same taxpayer in informal conference procedures

• Takes effect July 1, 2014