Dino Marcaccio
President
Former Texas Comptroller State Tax Auditor
Why do account payable reviews for overpaid sales tax yield such good money back to my company?
(Short answer: Every year the Texas Comptroller makes changes to tax policy that affects where and how to pay sales tax in your purchasing efforts. Such as an oil well, you may pay sales tax at the time of an upgrade but if the state deems that upgrade a enhancment to stimulate oil production, than this job is now tax exempt and a refund can be sought.)
Will submitting a refund request with the state trigger an audit of my company’s records?
In our experience no, by continuously submitting refund requests, the Comptroller understands you are active in your accounting efforts, and by seeking a refund you have also mitigated any potential exposure you may have. Thus the potential for the state to access a large tax due assessment is little to none.
How much money does my company lose by allowing the state tax auditor to identify my tax credits vs a prepared state tax consultant who specializes in overpaid sales tax recovery?
Many times, companies wait until the audit is generated and in progress to identify and include credits in the audit all while handling the audit at the same time and this is impossible. Auditors will typically perform a sampled audit instead of a detailed audit which potentially leaves 60% of viable credits off the table.
The state offers tax-exempt purchasing entities many tools to recover all of your overpaid sales tax.
- One of them is by performing a detailed audit, which allows our consultant to capture 100% of available credits which would typically be left out due to sampling by the auditor.
- The second method is the Managed Audit Program (MAP). When engaged with a tax professional the state allows the consultant to control and build the audit plan, sampling methodology, and tax methodology and have it approved by the state thus leveraging all audit steps in our client’s favor. The Managed audit program allows our consultant to manage 100% of the internal audit steps vs the auditor which allows us to maximize refund opportunities for Texas Tax Group clients.
I understand that Texas Tax Group works on a contingency fee basis but asks for no future savings? That’s too good to be true!
Thats right! Texas Tax Group has a flat 35% contingency fee on the amount of the refund check you receive back from the state! Unlike most companies who charge 2 to 4 years of future savings as well, we only focus on the previous 4 years and schedule our clients for follow-up review every 2 years.
To schedule a free consultation or to request a formal proposal for services please contact
Jeremy Michael Wysocki
Director of Sales, Major Markets – Credit/Refund Division
Texas Tax Group, Inc.
Address 9950 Westpark Dr., Ste 430, Houston, Texas 77063
Phone 832-582-1433
Email Jeremy.Wysocki@TexasTaxGroup.com
Website TexasTaxGroup.com
Best of luck,
Dino Marcaccio, President (ex-Texas Comptroller Auditor, 16 Years)
Texas Tax Group, Inc.
Address 9950 Westpark Drive, Ste 430, Houston, Texas 77063
Phone 832-4135339
Email Dino.Maraccio@TexasTaxGroup.com
Website TexasTaxGroup.com
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