Smart Tax USA will spend two to three days making a preliminary determination of the sales and use tax refund potential. This will involve reviewing the current year of accounts payable and related sales tax accrual procedures for each location. Some other records may be necessary as the review progresses.
Smart Tax USA will discuss our preliminary findings with the appropriate personnel and decide the best course of action from that point forward.
Sales and Use reverse audits are generally performed externally because most companies do not have the time or the resources to devote to such a project.
We act as an extension of your tax department. We devote our time, energy and expertise to identifying and recovering overpayments so you don't have to. Our Sales and Use Tax Review will results in maximum tax savings for your company. We will provide you with quality reports that document our findings in a clear and concise manner so that you understand what we have done and what issues to look for in the future. Our Sales and Use Tax Review has been employed in numerous facilities throughout the United States. Our commitment is to consistently maintain the highest level of quality in the services we provide to our clients.
Steps and Procedures
SMART TAX USA will identify areas of sales and use tax overpayments and will document these areas with the appropriate references and explanations. We will review the most convenient records first, and then expand our review to include all open periods as warranted. Once we have identified a possible refund opportunity we will follow the proper procedures to validate the claim and insure that no previous credits or refunds were given on any of the issues we identify.
SMART TAX USA will take full responsibility and secure all documentation necessary to obtain the refunds from the State and /or vendors as appropriate including necessary follow-up submissions and meetings. This will involve several recovery methods to include filing a claim for refund directly with the vendors. It is our goal to keep a positive vendor relation between the vendor and your company. Secondly we will also file refund request directly with the appropriate taxing authority. Please keep in mind no refund will be sought without your approval.
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• State Tax Audit Defense
• State Manufacturing Exemptions
• Reverse Audits
More than 5,000 U.S. jurisdictions have changed their sales and use tax legislation in the last decade. SMART TAX USA determines how these law changes provide additional exemptions, credits and tax incentives for your company.
State Courts are constantly interpreting sales tax laws and regulations. SMART TAX USA deciphers these complex laws and regulations to maximize cost saving benefits.
In today’s economy many states are adding additional tax exemptions, credits and tax incentives to create job growth within the manufacturing and industrial spectrum. SMART TAX USA specialized, comprehensive analysis can determine how these new exemptions directly affect your business and could result in a reduction of current and future tax liabilities providing significant tax savings for your business!
Profit Recovery with Reverse Audits - Refunds Now - Future Savings. 90% of our audits result in an instant refund and most importantly, significant future savings