Sales Tax Recovery Process
Kick-off Consultation
During the initial consultation, we conduct a comprehensive review of your business’s operations, financial structure, and tax history. We discuss your goals, concerns, and any previous tax issues or recoveries. Our team will explain the process, answer questions, and help identify potential areas where sales tax could have been overpaid or overlooked. This meeting sets the foundation for the tax recovery process, allowing us to tailor our strategy to your business needs and maximize your potential refunds.
Data Collection
We gather all relevant financial documentation, including detailed tax filings, sales receipts, invoices, and payment records. We review your accounts payable and receivable, tax exemption certificates, and past tax returns to ensure no data is overlooked. Additionally, we may request vendor agreements or contracts related to taxable purchases, as well as any correspondence with tax authorities. This thorough documentation allows us to identify overpaid sales taxes and maximize your recovery potential.
Analysis
Our team meticulously examines all the data collected, including tax filings, invoices, and receipts, to identify discrepancies and overpayments. We cross-reference purchases with applicable tax codes and exemptions to ensure that all eligible refunds or credits are captured. We also look for missed opportunities in tax recovery, such as incorrect tax classifications, incorrect application of rates, or overlooked credits. Additionally, we assess previous claims and returns to ensure that any unclaimed or misfiled refunds are identified. Our goal is to maximize the value of your tax recovery.
Report Generation
After analyzing your data, we prepare a comprehensive, easy-to-understand report that outlines our findings in detail. The report highlights identified overpayments, tax credits, and recovery opportunities, broken down by category and supported by relevant documentation. We also provide a clear action plan, detailing the steps necessary to submit your claim and ensure maximum recovery. This report serves as a transparent guide, offering you a clear understanding of the potential refund amounts and the recovery process.
Submission
Once the recovery opportunities are identified and the report is finalized, we handle the entire submission process on your behalf. This includes preparing all necessary forms and supporting documents, ensuring everything complies with tax regulations and submission requirements. We carefully review the details for accuracy before submitting claims to the relevant tax authorities. Throughout the submission, we monitor the progress and provide you with updates, ensuring the claims are processed efficiently and correctly to maximize your refund.
Continued Support
From start to finish, we provide continuous, personalized support to ensure a smooth tax recovery process. Our team is available to answer questions, clarify any concerns, and guide you through each stage of the process. We assist with understanding your recovery options and addressing any issues that arise, such as audits or disputes. If necessary, we provide direct representation to resolve tax-related challenges with authorities. Our goal is to keep you fully informed and comfortable throughout the entire recovery journey.