Tax Refund Best Practices - Its No Longer a Walk in the Park

Thursday, October 29, 2009

With recent decisions from Illinois, Virginia, New Jersey and recent professional experiences with California, Florida, Tennessee and Texas; one thing is certain - it is not as easy to obtain a refund or credit as it used to be.

More and more we are finding our clients waiting for or receiving negative responses from states on requests for tax recoveries. Even vendors, who in many cases are obligated to refund erroneously charged taxes, are dragging their feet citing the difficulty for them to recover the tax themselves.

Tax Recovery Best Practices:

- Regularly review your purchases for tax overpayments.

- Do your homework - have detailed descriptions of exempt purchases and laws to support.

- Insist on Vendor Issued Refunds (where possible) - Remember it was their error, not yours, that lead to the sales tax overpayment. Involve purchasing; often they can put pressure on the vendor that you as a tax professional can not.

- Be understanding - Also remember that the vendor's tax department is not going to be happy - this doesn't make them "look good." Be polite - sales tax and billing system limitations don't always permit the easy administration of accurate billings.

TTR provides comprehensive refund services and training surrounding refund claims.

TRANSACTION TAX NEWS

WHAT WE'VE DONE

You may have used other tax research and tax rate tools in the past. This is different.

We spent nearly a decade working with industry leaders to develop a completely new on-line sales and use tax matrix - the only industry tailored and customized on-line sales/use tax lookup available.

Customized content, a user friendly interface and daily updates are just a few of the unique features.

Watch the WHAT IF video or the online DEMO to see more. 

 
Sitemap
contact@ttrus.com
(866) 578-8193
 
©2009-2012 TTR, Inc. All Rights Reserved.