Getting it right – state and local sales & use tax compliance
Summit Tax Recovery Solutions is a leading professional sales and use tax services firm. With remote offices throughout the country, we provide a variety of indirect tax consulting services.
Our specialty service is the review of historical purchasing activity data to identify transactions on which sales or use tax overpayments may have occurred. But our service doesn’t end there. Once we identify the tax overpayments, we then compile the necessary support documentation to recover these taxes from vendors and suppliers. In many cases we work directly with state revenue agencies to ensure our client’s refund claims are processed quickly and efficiently.
Moreover, with our flexible no-risk fee structures, our clients receive the full value of our services before being billed for our professional fees. Our dedicated client service team makes the necessary investment in time and resources to ensure success. We provide a thorough review and recover taxes which may have been inadvertently overpaid to vendors and state revenue agencies.
Through detailed review and analysis of electronic client data files, our team of dedicated specialists identify areas of potential tax overpayments. This includes meticulous examination of potentially thousands of historical purchase records. Identification of potential tax overpayments is where many other service providers end their efforts.
At Summit Tax Recovery, this step is only the beginning. Our next step is to validate potential tax overpayments by careful investigation and rigorous testing against extraneous source documentation. This often includes vendor records and state tax laws and sales tax regulations. Once validated, our team of dedicated client service specialists initiate contact with vendors, suppliers and if necessary state revenue agencies to request refunds of the tax overpayments. On many projects our team is able to work remotely offsite or from our corporate offices to prevent any business disruption.
After successful resolution of identified prior period compliance exceptions, the dedicated Summit team works with the client to develop an improved compliance process so that accuracy and efficiency is greatly enhanced on a prospective basis. This may include staff training, development of alternative compliance models and/or implementation of third-party automated sales tax software.
Tax Refunds and More
At Summit, our goal is to create value for our clients by making sure that only the correct amount of sales & uses taxes are paid to each taxing authority. While state tax auditors perform an examination of records to identify sales & use tax underpayments, the reverse sales & use tax audit accomplishes just the opposite. It identifies sales & use tax overpayments which can result in refund opportunities. Hence the term “Reverse Audit.” Utilizing many of the same review procedures as state tax examiners, we analyze historical purchasing activity data to determine whether you have significantly overpaid sales and use taxes. If so, then we follow all the necessary steps in order to recover any overpaid tax. We obtain the required documentation and prepare all the needed paperwork to recover tax overpayments. Moreover, tax overpayments identified during a state tax audit exam, can often be netted against auditor identified tax underpayments to substantially reduce the final assessment. Additionally we can provide customized reports showing where tax overpayments are occurring and recommendations for improvement. This facilitates process improvements can improve tax compliance accuracy.
Indirect Tax Specialists
At Summit we combine deep industry experience, comprehensive sales and use tax knowledge and a strong commitment to genuine personal service. Most of our dedicated team members are subject matter experts with prior experience at state revenue agencies or national Big Four and second tier accounting firms. While many accounting firms employ income tax staff who occasionally dabble around in state tax matters, our indirect tax specialists dedicate 100% of their time to non-income tax issues. This constant focus on indirect tax matters, allows our team to develop deep expertise and wisdom. Our passion for our client’s success has fueled the growth and development of our company. Although every business structure and each engagement project is unique, our mission remains the same. That is to personally serve our clients as trusted business advisors by adding value to improve the bottom line. As outside consultants, we view our role primarily as a partnership in which we work alongside our clients to help supplement and strengthen their existing accounting and tax personnel. Our real value however, lies in the ability to offer these specialized tax consulting resources, tailored and customized in a way that can work for you.
Contact
Office: 404.835.7165
info@summittaxrecovery.com
Locations
Atlanta, Georgia
National Remote Offices
