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 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.
Description
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.
Outline
- 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
Benefits
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.
Faculty
Gregory Servodidio, Member
Pullman & Comley,
Hartford, Conn.
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,
Hartford, Conn.
She 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
Crowe Horwath,
Dallas
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.
Ordering
On-Demand Seminar - Audio Recording
Includes recorded streaming audio of full program plus PDF handouts.
Note: Self-study CPE, RTRP, and EA credits are not offered on on-demand webinars.
On-Demand Seminar Audio $49.00
Recorded Event
Includes full event recording plus handouts.
Note: Self-study CPE, RTRP, and EA credits are not offered on recorded events.
Recorded Webinar Download $49.00
Recorded Audio Download (MP3) $49.00
DVD (Slide Presentation with Audio) $49.00 plus $9.45 S&H
CD (Audio with Slide PDFs) $49.00 plus $9.45 S&H
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CPE Credit
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Customer Reviews
Coverage was practical and straightforward. Well done.
Stuart J. Frentz
Bradley Arant Boult Cummings
I liked the clear and concise manner in which the topics were presented.
Angelina Johnson-Brown
General Electric Company
I found the presenters to be very experienced and the Q&A's to be particularly useful.
Mike O'Brien
American Eagle Outfitters
I especially liked the examples illustrating the topics concepts.
Melinda Tompkins
Holly
The program had excellent presenters that were extremely knowledgeable.
Lisa R. Volland
Legacy Professionals
Property Tax Advisory Board
Senior Partner
Garippa Lotz & Giannuario
VP & Management Consultant
Marvin F. Poer & Co.
Director, Location Incentives Group
Cushman & Wakefield
Foy Mitchell
Vice President
Marvin F. Poer & Co.
Mark Semerad
Manager of Property Tax
Level 3 Communications
Our Guarantee
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