SALES & USE TAX
RECOVER LOST PROFITS
and Prevent Future Errors.
An active review for tax overpayments (i.e. a reverse audit) is not typically included in the scope of a state sales and use tax audit. Therefore, it is important for clients to perform internal reviews and/or contract with a third-party to review for tax refunds.
CPRS leverages its experience as former state sales/use tax auditors to perform reverse sales and use tax audits that ensure all available tax benefits (e.g. exemptions, exclusions, etc.) have been taken. Our least senior manager has 10 years of experience. As such, the CPRS manager performing your sales and use tax review will be an experienced tax professional.
CPRS takes on as much of the reverse audit work as our clients approve to minimize client burden. The steps in the reverse audit process are:
- Data Collection and Validation
- Data Analysis and Refinement to Arrive at the Transactions of Interest
- CPRS’ tax overpayment database (i.e. database that houses products and vendors where tax has been overpaid) is utilized when performing the refinement process.
- Collection of Invoices and Other Supporting Documents
- Invoice Review and Tax Research
- Invoices and other information are reviewed to identify what was purchased by the client. When needed, web research, client employee reach-outs, and vendor reach-outs are also performed.
- CPRS’ tax knowledge, tax research tools, and unpublished state guidance is used to identify available tax benefits that apply to the reviewed transactions.
- Overpayments are Recovered on Tax Returns, From Vendors and From Taxing Authorities
- CPRS only pursues defensible refunds to maintain strong long-standing relationships with clients, vendors, and taxing authorities.
- Client approval is always received prior to pursuing tax refunds.
AN ALL-IN-ONE SOLUTION FOR TAX RATE CALCULATION, RETURN PREPARATION AND DOCUMENT MANAGEMENT.
Our CPRS team is ready to roll up our sleeves and work with your team to find answers on your next project.