Reverse Audits for Refunds

BKD applies knowledge gained from working with thousands of clients to your unique business situation and guides you toward paying your “fair share” and no more.

As one of the 10 largest CPA and advisory firms in the nation, BKD is uniquely situated to help you turn state and local taxes into an opportunity for real savings. Our dedicated state and local tax practice has been the firm of choice for several Fortune 500 companies as well as thousands of small and mid-size companies. Big-firm talent, services and skills with small firm overhead make BKD an excellent choice for your state and local tax needs.

BKD’s sales and use tax advisors conduct a tour of your facility and operations and then perform a “reverse audit” to detect if you have overpaid your sales, use and other miscellaneous taxes.

Conducting a reverse audit includes electronically and manually reviewing your accounts payable records, capital expenditures and sales and use tax returns. Depending on your type of business, utility studies also may be performed to obtain an exemption for the purchase of utilities such as electricity, natural gas and water. If we discover a tax overpayment or error, we complete and submit the necessary documentation to secure your refund.

As part of the BKD procedures for realizing sales and use tax savings, we:

• Meet with you to review the work plan and identify locations of records
• Conduct interviews and tours of facilities to determine procedures and systems for payment of taxes
• Analyze records and source documents to identify opportunities for refunds and credits, reduce any deficiency assessments created by taxing jurisdiction’s audit and determine if you have significant sales or use tax audit exposure
• Prepare documentation to substantiate the claim for refund or credit
• Meet with you to discuss findings and recommendations and provide a management report with recommendations for reducing future liabilities
• Represent you at administrative hearings
• Provide additional assistance, as necessary, to support you in realizing tax recoveries and future tax savings

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