Business Personal Property Audits: Preparation Strategies for Taxpayers
Planning for and Responding to Disputes Over Documentation, Values and Assessments, Penalties and More
Recording of a 110-minute CPE webinar with Q&A
Conducted on Wednesday, August 8, 2012
Recorded event now available
This teleconference will prepare tax managers to plan strategies for managing a business personal property audit, whether conducted by a state agency or a contingent-fee firm.
If your company has business personal property in multiple states, it's more likely than ever that you'll be targeted for a personal property audit. Nearly 40 states tax personal property, states are investing new resources in audit activity, and a number of states have recently become more aggressive.
California, Florida, Georgia, Indiana and Tennessee are just some examples. Both desk and field audits demand a high volume of accounting and financial records, and companies must ensure documents reflect the facts. Tax professionals also must anticipate disputes over excess or "escape" assessments.
Special problems can arise in dealing with contingent-fee audit firms, negotiating penalties and interest, and positioning your company for a potential appeal. Business personal property audits include unique demands that require special planning and preparation.
Listen as our panel of experienced property tax advisors offers their experiences and best practices you can use to thoroughly prepare for a business personal property audit.
- States moving more aggressively with personal property audits
- Factors behind why more companies are being audited
- Examples of oft-used contingent-fee audit firms
- Special documentation issues in personal property audits
- Books and records to provide, and to try to avoid providing
- Negotiating valuations and assessments
- Rights of the auditor
- What to expect from contingent-fee firms
- Negotiating penalties and interest
- Understanding rights and appeals avenues
The panel will explore these and other important topics:
- Responding to the initial audit notice, and researching the auditor's legal powers.
- Books, records and documentation that should or shouldn't be provided.
- Approaches to negotiating valuation.
- Avoiding excess assessments and dealing with escape assessments.
Upon completing this seminar, the taxpayer advisor or manager will be better prepared to plan and manage a business personal property audit.
Gregory Servodidio, Member
Pullman & Comley,
He represents business clients in equitable assessment cases and property tax appeals in regard to properties as varied as corporate headquarters and power plants, hotels and movie theaters.
Laura Bellotti Cardillo, Member
Pullman & Comley,
Ms. Bellotti Cardillo has worked in the property valuations arena since 1982, and currently practices in ad valorem personal and real property tax appeals and eminent domain proceedings. She frequently represents property owners and lessees seeking equitable assessments of their property interests in municipalities.
Jeff Mills, Senior Manager of Property Tax
He has 12 years of experience in personal and real property tax and tangible valuation services. Before coming to Crowe Horwath, he was the Central Region property tax consulting/compliance leader at another accounting firm.
On-Demand Seminar - Audio Recording
Includes recorded streaming audio of full program plus PDF handouts.
Note: Self-study CPE and EA credits are not offered on this On-Demand webinar.
On-Demand Seminar Audio $247.00
Includes full event recording plus handouts.
Note: Self-study CPE and EA credits are not offered on recorded events.
Recorded Webinar Download $247.00
Recorded Audio Download (MP3) $247.00
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Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
IRS Approved Provider
Strafford is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).
Strafford is a NASBA CPE sponsor and our live webinars qualify for CPE credits. They offer you a high quality, cost effective, and convenient CPE option, with no lost travel time or expenses.
I found the presenters to be very experienced and the Q&A's to be particularly useful.
American Eagle Outfitters
I especially liked the examples illustrating the topics concepts.
I thought that the speakers were very knowledgeable and their presentation materials will be good reference guides.
Claudia Del Castillo, CPA
Sol Schwartz & Associates
I liked the clear and concise manner in which the topics were presented.
General Electric Company
It was an excellent program!!
Property Tax Advisory Board
Garippa Lotz & Giannuario
VP & Management Consultant
Marvin F. Poer & Co.
Director, Location Incentives Group
Cushman & Wakefield
Marvin F. Poer & Co.
Manager of Property Tax
Level 3 Communications
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