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What are the benefits of using an outside consultant to perform a sales & use tax, and/or severance tax review?
The tax consultants employed at T-COT, Inc. perform these types of reviews on a daily basis and are more familiar with the taxability laws. Our expertise enables you and your staff to continue your normal routine while we try to recoup any overpayments you might have.
Will a refund request elicit an audit from my state?
Commonly, the state will only want to review the records that are submitted for the refund request. If your company comes under review from your state T-COT can help contest the audit even if it is not during the refund review process.
What is the average time period covered by examinations?
There is a statute of limitations that will vary from state-to-state. The scope of examination is generally limited to taxed purchase transactions for the periods within the statute of limitations. The average time covered in most examinations is four years. This period could be longer if an audit has just been completed, is currently being audited by your state tax department, or if the audit is in hearing status.
If you have any other questions regarding the refund request process please don’t hesitate to contact us.
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