Sales & Use Tax
Effective management of the sales and use tax function can be quite a daunting task for many tax departments, which are often under-staffed. This can result in overpayment of sales and use tax and inefficient tax processes. The dynamic nature of federal, state, and local tax regulations can be difficult to keep up with, and nexus issues can complicate matters even more. Further, data management with limited resources exacerbates sales and use tax problems. The combination of these factors often leads to inaccurate data and the incorrect reporting of sales and use tax.
Steps can be taken to retrofit the sales and use tax department and thereby maximize efficiencies and generate tax savings. From process improvements and automation, training and education to outsourcing, FandlGagnon can provide the full array of sales and use tax services.
Sales and Use Tax Services provided by FandlGagnon include:
- Sales & Use Tax Outsourcing
- Audit Support
- Tax Recovery Reviews
- Tax Technology
- Multistate Nexus Studies
- Voluntary Disclosure Services
- Managed Compliance Agreements
- Taxability Matrices
- Exemption Certificate Management
- Sales Tax Advisory Services
FandlGagnon regularly assists clients with streamlining and cleansing sales and use data using various technology tools. Ensuring that sales data from AP or the various front-end sales and use tax decision modules is accurate and ties to the general ledger is critical for both reporting and audit substantiation. Tying this data back to the accrual can also be time-consuming without the use of technology. Technology tools can also be used to ensure the accuracy of use tax accruals.
As part of our overall sales tax services, FandlGagnon can also handle all aspects of a sales and use tax outsource engagement including data review, filing of returns, payment of tax (to include an imprest account option), audits and appeals, and management reporting.
Our secure on-line data warehouse gives clients access to all of their sales tax data including tax returns, notices, calendars, and other jurisdictional correspondence.