Dino Marcaccio
President
Former Texas Comptroller State Tax Auditor
Why do account payable reviews for overpaid sales tax yield strong returns 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. Similar to oil wells, you may pay sales tax at the time of an upgrade. However, if the state deems that work as an enhancement to stimulate oil production, than this job is now tax-exempt and a refund can be pursued.)
Will submitting a refund request with the state trigger an audit of my company’s records?
In our experience, no. The Comptroller understands Texas taxpayers are making efforts towards full tax compliance. Outside of being audited, filing for a refund claim is common practice for those seeking to be compliant. The State must perform their due diligence on all refund claims, but those efforts are starkly less invasive than an audit.
What are my risks by allowing the state auditor to identify my tax credits versus a tax consultant?
Many times, taxpayers wait until an audit is generated and in progress to identify and include credits. Unfortunately, what we see is that managing the audit is time-consuming enough as it is. This typically leaves the pursuit of credits to fall by the wayside. Additionally, although auditors are tasked at ensuring tax compliance, what often happens is they cater their review towards tax exposure and leave credits/refunds up to the taxpayer to identify for them. A consultant who specializes in refunds and credits is experienced, prepared, knows how auditors prefer these overpayments to be presented, and can guide you to pull the exact documentation necessary to get credits approved.
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. Although daunting, this allows our consultant to capture 100% of available credits which would typically be left out due to sampling omissions by an 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, shape sampling methodology, and tax methodology, and have it approved by the state thus leveraging all audit steps in our client’s favor and reducing penalties and interest for tax due errors. The MAP 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.
Am I to understand that Texas Tax Group works on a contingency fee basis but asks for no future savings? That’s too good to be true!
Texas Tax Group gets paid on a performance basis at no cost to you unless we find recoverable sales tax. Unlike most firms who charge 2 to 4 years of future savings, we only focus on the previous 4 years and schedule our clients for follow-up reviews.
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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