Right or wrong, auditors often have the upper hand on assessments. Having a knowledgeable and experienced advocate can be extremely beneficial. Case Studies
“Your state Sales and Use Tax records have been scheduled for a field audit at your office beginning at 8:30 AM on_______.”
This typical Audit Notice introduction usually sparks a company’s Sales Tax crisis. Components of that crisis include personnel turnover, inadequate or missing records, reliance on incorrect or obsolete information and efforts from inexperienced internal personnel. If you’re not prepared, an audit could potentially be a time consuming, worrisome and costly event.
The fact is that states continue to come back and audit businesses every three or four years until it’s no longer profitable to do so. Handling your first or subsequent audit well is vital to getting off the state’s repeat audit list. Understanding the auditor’s thought process is vital. For instance, auditors are often led to problem areas through discussions with company personnel. First time audits can be of particular concern. Some companies choose to handle the audit without representation. This often results in a crisis for these businesses when the results are not what they expected, or when the tax, penalty and interest assessment is unfair, unreasonable or just plain unaffordable.
When a business cannot pay the assessment, it truly is a crisis. But the nightmare does not stop there. If the state puts you out of business due to taxes, that still does not relieve you from the personal liability that often results.
Call on Sales Tax Colorado for as much or as little assistance as desired in handling Sales & Use auditors and audits or other issues. We tailor and provide our services on an as-needed basis.
Our team of consultants is ready to lend advice or defend your rights, livelihood, employees, and business. The sooner you get our specialists involved, the better we can assist you in reducing potential assessments and perhaps identify offsetting Refunds / Claims that may result in a net gain. Our goal is to save you time, resources and money while providing you with peace of mind. We’ll deal with the auditors while you handle what you do best…running your business.
Our Sales & Use Tax professionals can provide you with nationwide cost-effective audit defense, voluntary disclosure, nexus and taxability determination, exemption certificates, refund claims, registration, compliance guidance and more.
Sales Tax Colorado can assist clients with letter rulings and protest ruling requests. We can also represent our clients at both informal conferences with auditors and throughout the Sales Tax appeals process directly or indirectly if needed.
We also negotiate with the state on an anonymous basis for businesses in order to minimize penalties, interest and past tax liabilities, and bring them into compliance. We help companies bring closure to their Sales & Use Tax issues. Let us know what you need and when you need it!
Contact us today for a free consultation to discuss your situation and how we can help.
