At SALT Solutions, we understand the importance of meticulously examining your accounts payable (AP) and tax records. Our refund review service will uncover overpayments and identify potential refunds that have gone unnoticed, putting money back where it belongs—in your pocket.
What is a Reverse Audit?
A reverse audit is a thorough review of past sales and use tax transactions to identify errors, overpayments, or missed exemptions that may result in large refunds. This proactive approach aims to rectify discrepancies and recover funds owed to you by state taxing authorities.
It is a common misconception that vendors know what is taxable and tax-exempt. Believing that “they know what they are doing” has cost our clients hundreds of millions of dollars over the past few decades.
Why Choose SALT Solutions for Reverse Audit Services?
- Comprehensive approach: Our team will do a deep dive into your finances to identify unutilized sales tax exemptions, including exemptions we’ve previously identified for other clients and known exemptions that were overlooked or taxed in error by the vendor. We’ll also review invoices and use tax accruals and filings for excessive sales tax paid to vendors.
- Expertise: Our leadership and consultants are experts in identifying inaccurate taxing of exempt items and have a deep understanding of your business, services, products and vendors. The result is significant refunds with minimal client time commitment. We work extensively with healthcare organizations, such as hospitals, surgery centers and laboratories, and other niche industries nationwide.
- Maximized refunds: When we identify an area of exemption, SALT Solutions will file a claim retroactive for the past three to four years to obtain a significant refund on the taxes paid. As part of this process, SALT Solutions will also look for areas of possible exposure concerns, preemptively protecting your business from future audit liabilities.
- Ongoing guidance: We recommend conducting these reviews every two to three years. SALT Solutions performs reverse audit processes on a contingency basis, meaning there are no upfront costs, out-of-pocket expenses, hourly rates or reimbursements. We simply ask you to share the refunds we achieve on your behalf. Reverse audits are an educational endeavor with the benefit of improving your profitability.
It is a common misconception that vendors know what is taxable and tax-exempt.
Tailored Services for Your Business
Every business is unique, so SALT Solutions tailors our services to suit your needs and circumstances. Whether you’re a small business or a large corporation, we provide customized solutions designed to help you manage your tax transactions.
Don’t leave money on the table. Take control of your finances with SALT Solutions’ reverse audit service and unlock hidden refund opportunities that could significantly impact your bottom line. Contact us today to discover how we can help you achieve tax excellence.
Get in Touch
Contact Info
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14400 Metcalf Ave
Overland Park, KS 66223 - info@saltsolutions.biz
- 913-563-3600
