When making a refund request, review the website of the taxing authority to ensure you have all documentation that fully supports the request. Expect that the documentation may be reviewed before funds are released.
The refund request, itself, will be audited. In addition, your business may be audited to make sure that you do not owe the taxing authority any money before a refund is given to you. The probability of an audit increases as the amount of the refund request increases.
For information on how to prepare a credit request, visit Know if You Have A Sales Tax Issue, Taxable Purchases Made Easy!, and Top Five Resale and Exemption Certificate Mistakes.
For a private consultation, schedule a call with Mary at Ask Mary or Stephanie at Ask Stephanie
More Tips in The Sales Tax Sisters Academy
Our mission to provide a resource so business owners, accountants and bookkeepers can understand sales & use tax compliance. We know that sales and use tax laws are not the easiest to understand. Our focus is on empowering you with a framework and general understanding, so you know what questions to ask and where to go to get the information you need to stay on the right side of sales and use tax compliance.