We review transactions that allow the outstanding payment to be voided, preventing erroneous escheatment. Our work reduces your escheatment liability in accordance with state regulations. We also review prior escheatment returns for items erroneously escheated, and contact the state for a refund.
We contact state revenue departments to inquire about possible overpayments that include the areas of income tax, withholding tax, sales tax and workmen’s compensation. We verify with each state whether the old open credits are related to anything current before we bring these amounts to the attention of our clients.
We analyze transactions to ensure our clients are not paying sales and use tax erroneously. Sales and Use Tax regulations change constantly and are sometimes hard to interpret. Vendors are not always aware of our client’s sales tax liabilities.
Many of our clients have operations in other countries and have the same concerns with foreign taxation as they do with U.S. sales/use tax. We review all documentation to verify that correct and valid GST/PST/HST/QST has been charged by the vendors. We also review our client’s ability to claim all valid credits and refunds (ITC/ITR) available to them.