Sales and Use Tax Review and Recovery Audit
SIB’s objective is to identify, document, and recover prior payments of sales and use tax, which qualify for exemption under state law. SIB’s review is independent and free from conflicts. We perform an external review of your accounts payable without staff interruption and without disturbing existing relationships. The review generally covers a multi-year period based on the applicable state’s statutory recovery period.
Our Program is a three-step process in which we:
- Perform a “reverse sales tax audit” to identify and quantify the amount of overpayment;
- Compile the information and documentation required to obtain the refund; and
- File and secure the refund directly from the state.
We cannot stop a company from being subject to a sales tax audit, but we can target the lowest possible audit assessment. At SIB, some of our analysts are former state sales tax auditors, giving us an unusually keen understanding of the sales tax audit process. We know what the auditors will be looking for and how information should be presented to them, which saves our clients a great deal of money each year. Our Audit Defense service is a flexible program that is adaptable to each client’s needs.
- Assist with pre-audit review;
- Review auditors’ work papers prior to assessment;
- Document contested items to be removed before they are assessed; and
Handle any post-assessment appeal.