"Reverse Audits" consist of a detailed and comprehensive review to identify sales tax exemptions that are not currently being utilized. This would include reviewing invoices for sales tax excessively paid to vendors and the review of use tax accruals/filings for the same exemptions. Reviews are commonly performed every two to three years for our clients.
Our leadership and consultants are experts in identifying the inaccurate taxing of exempt items. We understand your business, services, products, and vendors. This means significant refunds with little time commitment from our clients.
When an area of exemption is identified, SALT Solutions will file a refund claim retroactive for the past three to four years leading to extensive refunds.
As part of this process, SALT Solutions will additionally look for areas of possible exposure concerns, which would mean preemptively reducing your future liability if audited.
Our Reverse Audit process is performed on a contingency basis; meaning no upfront costs, out of pocket expenses, hourly rates, or reimbursements. We simply ask to share in the refunds we achieve on your behalf.
This is an educational endeavor, with the benefit of improving your profitability and compliance.