Sales Tax Managed Audits

Did you know that Connecticut and several other states have a program in place that will reduce interest by up to $10,000 and waive penalties if you conduct a “managed audit”? What this means is that your company or your representative reviews the records and drafts the audit workpapers; then the state tax auditor reviews the work.

STP has assisted companies by conducting their managed audit. We handle all of the dealings with the Department of Revenue Service personnel, while your staff handles the gathering of information. In several cases, our fees were covered by the savings on interest and penalties. In effect, the client used us to manage their audit and it didn’t cost them anything out-of-pocket!

The owner of STP is a former assistant unit manager at the State Department of Revenue Service, and the senior appellate officer for sales tax. Wouldn’t you like to have the person who trained the state auditors on your side? Wouldn’t it be a relief to have tax professionals managing your tax audit? Wouldn’t it be great if they kept the audit moving forward in a timely fashion? And wouldn’t the icing on the cake be to have the cost of their services paid by the Department of Revenue?

If this scenario appeals to you, contact Sales Tax Professionals today.