SALES TAX AUDIT NYC

Sales tax audit is in short an audit of whether the sales tax that you have collected have reached the correct collection authorities or not. It is an important aspect of any business undergoing an audit and helps to keep a check on finances.

Our firm caters to all sorts of your audit needs. This too is a crucial one, and you need to know what to do if you receive a notice for an audit by the government of your state. States have various ways of selecting a taxpayer for an audit. Large companies are chosen due to their volume and huge sales records while some small companies may be chosen due to a sudden surge in their sales due to any occasion.

Another reason for being audited is that you are a habitual late filer for tax. This put you under scrutiny, and thus it is better if you meet your deadlines as soon as possible

An audit may come as a surprise to you if you are not prepared for it. We think it is better to be prepared beforehand for it so that you have nothing to worry about.

AUDIT SERVICES

  • SALE TAX AUDIT
  • WORKERS COMP AUDIT
  • UNEMPLOYEMENT INSURANCE AUDIT

CONTACT US

Sales Tax Audit

WHAT TO DO IF YOU RECEIVE A NOTICE FOR AN AUDIT?

  1. STAY CALM:
    • The first thing to do when you receive an audit is to stay calm.
    • Audits can be scary, but our firm promises that we do our best to keep your records well maintained.
    • We all routinely get a notification for an audit, and it is nothing new so we must be prepared for it.
  2. KNOW YOUR RECORDS:
    • You must know what records to have.
    • If you choose us to prepare for your tax audit or do your sales tax audit, we tell you what records to have beforehand.
    • It is best to know these and not be surprised later on by them.
  3. IDENTIFY ANY POTENTIAL ISSUES:
    • Next up, we need to identify any potential issues with these records.
    • Due to the nature of a business, there are just too many records that have to be made.
    • The larger the company, the harder it is to maintain them as well.
    • This is where our firm comes in as we do a thorough scrutiny of your records in case later you get a notification from a government agency for an audit.
  4. REVIEW YOUR RECORDS:
    • Then we need to review the records.
    • It is best to do this before an audit begins so that you know that everything is in order and that there are no discrepancies.
    • Our employees can do this for you.
    • We provide services if you want to do an audit by yourself or if you have been notified by a government agency as well.

WHY HAPPENS IF YOU FAIL A SALES TAX AUDIT NYC?

As a company, you should know the risks that come with not fulfilling a sales tax audit. Some of those are:

  • YOU FACE PENALTIES: You not only get reprimanded, but you need to pay a hefty fine. Which may be especially daunting for small companies as it hinders their progress.
  • YOU COME UNDER THE SPOTLIGHT: If you routinely do not pass your sales tax audit, you are under scrutiny for the following years. The government agencies will most likely send you further notifications for audits in the upcoming years.

WHAT IS THE SOLUTION?

The solution is simple. You can hire a firm to take care of your book, keeping as well as preparing your company for an audit. Our firm offers all these services suited to the needs of your company so that you never fail a government agency issued a sales tax audit.

Your company is in safe hands if you trust us. Our employees are well trained and knowledgeable about the needs of different companies as well.

WHERE ARE WE BASED?

As a setup based primarily in the state of New York, we cater to all the people living in that state, including but not restricted to people in the city of New York. We also deal with the citizens of the five boroughs, namely Brooklyn, Bronx, Manhattan, Queens, and Staten Island.