Reverse Audits for Corporate Taxpayers: Best Practices for Identifying Sales Tax Refunds

Recording of a 110-minute CPE webinar with Q&A


Conducted on Thursday, December 13, 2012

Recorded event now available

or call 1-800-926-7926
Program Materials

This teleconference will offer tax managers and advisors best practices for managing a reverse sales and use tax audit for corporate tax staffs either running the process or overseeing the work performed by an outside firm.

Description

No company should wait for state sales and use tax auditors to bring overpayments of tax to its attention. To be confident that all potential refunds are identified, a multi-state company juggling compliance in numerous states should consider a reverse audit, either outsourced or conducted internally.

What does it mean in a practical context to perform a reverse audit not under the same rules as a real exam, but under more relaxed rules? How much staff time should a corporate tax department leader expect to invest in a reverse audit, when can it be fit in, and what quality standards are non-negotiable?

When outsourcing the reverse audit, is the potential contingency payment in your best interest? What steps can you take to ensure the outsourcer doesn't ease up if it fails to identify big refunds right away? Experiences and best practices from advisors and tax practitioners will help you map out the process.

Listen as our panel of experienced state tax advisors prepares you for an effective reverse sales tax audit, either conducted by your staff or by overseeing the work of an outside advisory firm.

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Outline

  1. Goals for the reverse audit
  2. Evidence and indications of possible tax overpayments
  3. Implementing safeguards against future overpayments
  4. Planning for tax staff time, documentation needs, other expenses
  5. Negotiating with and managing a reverse audit outsourcing firm

Benefits

The panel will drill into these and other key topics:

  • Best practices for identifying tax overpayments.
  • Taking steps to avoid future overpayments.
  • Implementing quality control measures.
  • Negotiating a fair compensation arrangement with an outsourcer.

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Mark A. Loyd
Mark A. Loyd

Partner
Bingham Greenebaum Doll

Mr. Loyd is a partner of the law firm and chairs its Tax and Finance Practice Group. His practice concentrates on...  |  Read More

Dillon, Michael
Michael T. Dillon, Esq.

President
Dillon Tax Consulting

Mr. Dillon is an attorney specializing in multistate sales and use tax matters for multistate and multinational...  |  Read More

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