Protecting your Business against a State Tax Audit
1:47 AM
As a business owner, I was very scared when I received a state tax audit. My state's sales tax laws were very general in their language and many of the laws were ambiguous. If I had violated any of the tax laws, it had been completely unintentionally. But I understood that even if it was an oversight that I could potentially lose my business. I knew that after I received the audit that I would need to find some expert tax audit defense to relieve some of my stress and to help ensure that the audit goes my way.
The responsibility of making sure that your business is in compliance with all of the local tax laws rests solely with the business owner. You need to make sure that your business follows these laws and keeps proof that it is doing so. If you receive a state tax audit, you need to understand what a serious matter it is and the potential for debt that you are facing.
If your business is audited by your state they will send agents out to look through all of your financial records and accounting. If you can not provide them with the specific documentation that they request, they will automatically assume that you are not in compliance. Remember, the burden of proof lies with you as a business owner.
A state tax audit can put your business out of business if the state finds that you owe them back taxes. If your business is audited, you will need to find tax audit defense to minimize your problem.
The tax attorney that I called explained that they could deal directly with the tax collectors so that I wouldn't have to. They also reassured me that even if I was found to be delinquent in my sales taxes that I owed that they could significantly reduce the amount that the state fines me.
The attorneys explained that a tough tax audit defense will protect me and my business from the state's aggressive collection tactics.
If you believe that your business is in compliance with your state's laws and regulations you still must be prepared for a state tax audit. Your state may conduct random audits to check for compliance. Your best protection against these audits is to be prepared.
By hiring a tax attorney to defend your business, you will significantly increase your odds of reaching a short and successful outcome to the audit.
The responsibility of making sure that your business is in compliance with all of the local tax laws rests solely with the business owner. You need to make sure that your business follows these laws and keeps proof that it is doing so. If you receive a state tax audit, you need to understand what a serious matter it is and the potential for debt that you are facing.
If your business is audited by your state they will send agents out to look through all of your financial records and accounting. If you can not provide them with the specific documentation that they request, they will automatically assume that you are not in compliance. Remember, the burden of proof lies with you as a business owner.
A state tax audit can put your business out of business if the state finds that you owe them back taxes. If your business is audited, you will need to find tax audit defense to minimize your problem.
The tax attorney that I called explained that they could deal directly with the tax collectors so that I wouldn't have to. They also reassured me that even if I was found to be delinquent in my sales taxes that I owed that they could significantly reduce the amount that the state fines me.
The attorneys explained that a tough tax audit defense will protect me and my business from the state's aggressive collection tactics.
If you believe that your business is in compliance with your state's laws and regulations you still must be prepared for a state tax audit. Your state may conduct random audits to check for compliance. Your best protection against these audits is to be prepared.
By hiring a tax attorney to defend your business, you will significantly increase your odds of reaching a short and successful outcome to the audit.
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