Sales & use tax overpayment is so prevalent that it is often called the "overlooked" tax. The laws which govern its use are obscure, often illogical and difficult to fathom. Each state imposes its own rules and exceptions, creating further financial chaos. Many vendors, either by error or design, routinely charge the incorrect tax. The personnel who process daily invoices often do not grasp the intricacies of sales & use lax, and unknowingly overlook the potential for loss. Little formal sales & use tax training is available to financial professionals, which only compounds the problem. Mistakes in all these areas can take a significant toll on your bottom line 一 profits that rightfully belong to you.
Our review process is customized to your specific business operations. It includes a review of all sales/use taxes paid, including sales tax paid to vendors, use tax self-assessed, and all sales/use tax paid in state audit assessments. Our staff is comprised of former auditors and managers with Big Four accounting firms, several states' Departments of Revenue as well as others with extensive state and local tax experience. We understand the complexities of sales & use tax and specialize in the recovery of profits lost due to overpayment. Once we pinpoint any discrepancies, CFG takes command of all communications with vendors and the taxing authorities, doing whatever it takes to recover all the revenue you're due.
—♦ Review of current tax procedures.
—♦ Recovery of overpaid taxes.
—♦ Ongoing support and routine follow-ups.
—♦ Staff training regarding tax minimization.
—♦ Audit management and representation.
—♦ Tax planning to minimize liabilities and streamline procedures.
Once a settlement has been reached, we arrange for you to receive payment by either check or credit memo from the vendor or taxing authority.
And no one will dig deeper to reclaim it than CFG Consulting, Inc.