Recover More of Your Money On Sales Tax Audits
Sales Tax Audit
Sales tax audit is a crucial aspect of your business, encompassing calculations, return filing, reconciliation, compliance, exemptions, and liabilities. H&M Tax Group provides expertise in these areas, addressing all requirements efficiently. Certain processes may be time-consuming but H&M Tax Group can handle them seamlessly.
The Process
At H&M Tax Group, we specialize in Sales Tax audits and approach every detail with expertise and vast experience. We work step-by-step through your firm’s sales tax audit, utilizing our resources, staff, and software systems to ensure greater accuracy and minimize your workload. Our systematic approach ensures compliance and approval in every scope of sales tax audit work.
Benefits
H&M Tax Group offers you greater accuracy and high-end efficiency that not only satisfies you but also reduces your workload, allowing you to relax while we take care of your core business operations. We provide cost-effective services that streamline your sales tax audit process and help you grow your business while complying with sales tax audit laws. Our team also helps you with exemptions, updates, and reducing transaction liabilities, as required by law.
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Our Staff
At H&M Tax Group, we understand that audits go beyond numbers and require tailored services that address our clients’ business functions. Our team consists of auditors and advisors who are familiar with our clients’ sectors, long-term strategies, and risks that need evaluation and control. We offer expertise and value-added suggestions that assist our clients in achieving financial and operational success. Our management and engagement teams are dedicated to meeting the precise requirements of each audit.
Audit Representation Dallas
There are few things that may make you feel more terrified than receiving a letter from the IRS in the mail. Though a lot of these letters are just straightforward requests for information, such as formal IRS audits, they may be frightening experiences.
Understanding what a sales tax audit Dallas facility is best for, avoiding the traps of disclosing too much or too little information, and passing the scrutiny of a highly qualified expert are all necessary for a successful audit. Fortunately, H&M Tax Group, with the best tax audit services and CPAs, has successfully represented clients in audit defenses, appeals, and tax debt disputes throughout hundreds of audits. Before the planned audit day, we thoroughly examine your financial documents in private at our office to find any possible issues.
Help throughout the Audit Season
Auditors are trained to collect data pertaining to your way of life, level of living, and other non-tax return-related information. Your tax audit may cover more ground if you let them examine your property in order to create a profile of you. Instead, let H&M Tax Group represent you; we have decades of expertise defending clients before the IRS and interacting with auditors. We are aware of the appropriate ways to communicate, focusing the IRS’s attention just where it is required.
Our customers hardly ever attend audits or meet with the IRS. Restricting the scope of sales tax audits is one of the most effective defenses. It is highly recommended that you get in touch with us before meeting or conversing with your auditor. On the same day that you hire us, we may assist you with gathering and submitting all required documentation, including requests for an extension of your audit appointment. Furthermore, we frequently rebuild the accounting records in cases of missing records in order to determine the actual taxable revenue.
FAQs
Section 25 of the Sales Tax Act of 1990 mandates that sales tax audits be carried out only once every three 3 years, as per the Finance Act of 2018. It assesses whether companies are adequately collecting and remitting the right amount of sales tax due to the state. State agency audit managers will review your documents and ensure that everything is in order during an audit.
The latest three to four years’ worth of sales tax returns and other data are typically examined for an audit; however, each state has its own procedures. Nevertheless, certain states may go back 7-8 years, and auditors may examine your whole company history if they detect wrongdoing in your company.
Audits often happen at your location of business, at the DOR office, or, if you hire one, in the office of your accountant or lawyer. Usually, a letter from the state revenue agency starts the audit. A request for documents and other business information will be included in the letter.
Although you won’t be notified whether your company is chosen for an audit until you receive a notice in the mail, there are a few steps you can take to lower the likelihood of noncompliance and stay ahead of the game. Inaccurate nexus determination, incorrect use of tax rate data, incorrect jurisdiction, missing exemptions, or problems with exempt sales are among the things that the audit looks for.
