Sales and Use Tax Compliance Reviews

A review of your record keeping and business operations designed to help insure that you are neither underpaying nor overpaying your sales and use tax liability. This program is also designed to point out the major areas of potential problems in recordkeeping leading to unexpected audit liabilities. For example, did you know that a resale certificate that is missing a single piece of information can be held invalid, resulting in tax being assessed on all transactions to the respective customers. It’s true and this is the type of information that we will provide you allowing you to steer clear of these problems.

Our compliance reviews include, at a minimum, the following:

• Travel to your place of business.
• Thorough discussion of your operations.
• Discussion of the application of sales tax in general to your operations provided in an easy to understand format and language.
• Complete discussion of your accounting practices and internal controls as they relate to sales and use.
• Sampling of your accounting records designed to offer guidance in areas related to support of your sales for sales tax purposes.
• Review of exemption support to identify areas of potential audit assessment, allowing you to remedy the problems prior to an audit.
• Up to two hours of follow-up telephone consultation allowing you to digest and meditate on our visit and then get answers to any follow-up questions you may have.

Although it is imperative for every taxpayer undergoing a sales tax audit to have knowledgeable and experienced representation, we also know that this type of pre-emptive review, before an audit takes place, could be the most important thing a business owner can do to help eliminate future, devastating, and unexpected sales tax audit problems. With the various state sales tax rates reaching upwards of 10%, minor errors in this area can translate into huge sales tax liabilities.

In addition, considering that a high percentage of audits result in substantial liabilities, the cost of this type of review can be nominal in comparison to the out-of-pocket tax expense resulting from non-compliance. After all, where can you turn a very minimal expense into income in the form of tax savings of potentially tens, or even hundreds, of thousands of dollars depending upon the type of business and issues involved? Click here to use our automated form to request more information on our sales and use tax compliance reviews.