W&A conducts a Sales and Use Tax Audit at the same time it
conducts an Accounts Payable Audit. We can also provide this type of
audit separately. When W&A conducts a Sales and Use Tax
Audit and a state tax audit is in progress, we act as advocates for
and represent our clients when working with taxing agencies.
When Sales and Use Tax Audit Services are provided by W&A, our clients benefit
from the recovery of overpayments and / or the reduction of assessments as well
as the minimization of future tax costs and audit exposure:
- The W&A first effort is to gain a comprehensive understanding of our
client's existing policies, procedures and business climate - our audit plan is
then designed to meet our client's specific situation and needs.
- Our retrospective review is focused on applicable tax regulations and
their application in our client's environment. The W&A staff visits
appropriate manufacturing facilities, where possible, to observe activities
prior to starting the on-site review work where the source documents reside.
We provide a complete review of self-assessed tax accruals and payments as
well as tax payments made to vendors. Our review and analysis of past
tax practices leads to opportunities to amend past returns and recover
overpayments and / or reverse Department of Revenue assessments.
- As our staff completes the various filings associated with recovery
activity, we communicate opportunities for future cost savings. Every audit
includes a comprehensive Recovery Audit Summary Report detailing the root causes for
the overpayment of every dollar recovered, and Suggestions that will reduce
future overpayments and / or increase compliance.
All Weisman & Associates tax audit services are performed on a contingency
fee basis. Our clients are invoiced for our contingency fee as recoveries are
received, accruals are reversed and/or Department of Revenue assessments are
reversed.
When working with clients that have undergone a State Tax Audit, we will evaluate
the state’s tax audit results by reviewing the methods, procedures and samples
used by the state to validate their claim of underpayments. We will evaluate the
samples selected for factual taxable or tax exempt status. Then we will review the
sample periods selected to ensure our client receives a fair and accurate
extrapolation of taxes due.
W&A personnel are constantly updating their knowledge on taxes. We
subscribe to a variety of tax reporting services including CCH to stay abreast of the
latest case law and changes in local, state and federal tax regulations and law.
W&A expertise allows our Complete Accounts Payable Document Reviews and Sales and Use Tax
Audits to find overpaid taxes in all areas of business. In all cases,
each tax overpayment documentation will be accompanied by a copy of the
relevant local, state or federal tax regulation for support and future reference.
W&A will assist in recovery of overpaid taxes through deductions or
refunds. We will also inform you if you are accruing tax liabilities in
observed areas as part of our Recovery Audit.
W&A will perform Reverse Sales and Use Tax
Audits on a contingency fee basis when clients have a specific need.
Our Auditor / Consultants have a minimum of 15 years
experience in accounting, auditing and taxation. Many of our
Auditor / Consultants are CPAs, Accountants or certified
Auditors.
Key Benefits
Industry and state specific tax knowledge
Over 16 years of Sales and Use Tax Overpayment Audit experience
Proprietary Audit Solutions SoftwareŽ for download, sort and
overpayment identification
Tax advocate assistance when under state tax audit
Tax resource for all 50 states and Canada
CERTIFIED TO DO RECOVERY AUDITS (SIN 520-9) FOR THE U.S. GOVERNMENT (GSA)
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