Sales and Use Tax Audit Defense and Refund Claims

312-701-1800
info@ycstax.com

No matter the size of your company or the industry you are in, sooner or later you may be subject to a sales tax audit. The ideal time to involve Yetter Consulting Services is when the state initially notifies you that an audit is about to begin. However, we can help reduce the liability at any stage, even after it has been paid. Our knowledgeable and experienced consultants can immediately place you at ease with the entire audit process.

After a preliminary review of your records, our consultants will identify significant areas of audit exposure. They will custom tailor an audit strategy to fit your needs and effectively address those exposures on both a prospective and retrospective basis. We work with state auditors on behalf of clients to make certain that the correct amount of tax is paid, particularly by ensuring that exempt items are excluded and all due credits are included in the audit. YCS succeeds at audit defense because we have experience as a former government auditor. We know how auditors think and where to look for credits to offset audit deficiencies. Because auditors are paid to assess tax, these credits are often overlooked. As a result, even though an audit liability appears rock solid, there is usually an opportunity to decrease the assessment.

After the audit, you may be issued a tax assessment or even a no-change audit statement. However, since auditors are trained to find and assess tax deficiencies, not tax overpayments and credits, the liability may be overstated. It is very possible to turn a sales tax assessment into a refund claim.

YCS helps its clients identify overpayments and obtain refunds. We will perform a cursory review of your reporting system and determine if an opportunity exists to file a claim.

Refund claims also can be filed separate from an audit. Sales tax laws change constantly, and items that may have been taxable last year or last month may now be exempt. Or perhaps you have new staff members who lack sufficient training in this area. If your company has not reviewed its accounts payable or use tax accruals to determine if law changes have been incorporated into the process, now is the time. YCS has experience in many industries and most states to maximize your refunds.