Sales Tax Representation You Need from Qualified Tax Specialists
Do you live in fear of state action because your business owes past sales taxes? Are you afraid of losing your business, home, or other assets because you can’t pay the amount owed?
If you owe back sales taxes, the consequences can be severe. Not only will the state shut down your business, but it can also hold you and others personally liable for the debt—meaning that everything from your bank and investment accounts to your personal property can be seized.
Key Tax Group Offers Comprehensive Sales Tax Debt Relief
Because of the serious repercussions of owing past sales taxes, you should contact an experienced tax debt relief professional immediately to protect your personal interests and business from state actions. Our dedicated team of tax lawyers, enrolled agents, and support staff is knowledgeable about the constantly changing state tax laws as well as the resolution process, allowing us to offer our clients comprehensive tax debt solutions to their sales tax debt.
At Key Tax Group, we first check and double-check to make sure that the fees charged against you are legitimate. For example, did you know that state assessments are often mistakenly made based on the square footage of the business instead of the actual amount of debt owed? We will review the charges assessed against you to ensure that they are warranted.
From there, we act quickly to stop the state taxing authority from shutting down your business. Even if a business is closed and no longer operating, the states have the authority to hold all owners and co-owners of the business personally responsible for these tax debts. If the business is already closed and the debt is personally assessed, we will work with the client to establish a resolution.
Sales Tax Compliance
Sales tax compliance can be difficult to analyze because the specific facts of every case are so important. One sales transaction may be taxable, and another sales transaction may be non-taxable, depending on the specific factual circumstances. A transaction often needs to be scrutinized by a tax professional to determine if the transaction is subject to state and local sales taxes.
Businesses may sell goods or services remotely to customers across the United States. Local and state sales and use tax laws continue to change at a rapid pace, and staying in compliance with these laws can be confusing. Businesses cannot adopt a uniform policy for organizing and paying state and local sales taxes. The majority of businesses have multistate customers, and these businesses are responsible for adhering to state and local sales taxes.
Sales Tax Audits
Sales tax audits focus on two questions: (1) did a business pay an adequate amount of state taxes on the business’s purchases and sales? (2) Can the business establish proof that it has satisfied its state tax burden? A state auditor will scrutinize financial records and business documents to determine whether a business is liable for any tax payments.
If a business does not have reliable financial records and business documents, the state auditor can examine external sources to make a determination about the business’s tax liability. Auditors can use purchase orders, statistical averages, and industry standards to estimate a business’s assets, liabilities, and sales. Sales tax liability may also cause income tax issues for a business. The audit process is important because it can often determine if a business will have income tax liability.
A tax professional can answer questions you may have regarding where an audit may be held and who should speak to the auditor. Auditors may request specific documents, and a tax professional can inform you about your obligation to submit those documents.
Sales Tax Risks
Tax authorities in each state are painstaking in their investigations regarding tax violations. Businesses face many problems.
Protect Your Business and Yourself with the Tax Professionals at Key Tax Group
If your business owes back sales taxes, don’t wait until the state takes action: Contact Key Tax Group today to get started on a comprehensive sales tax debt solution. We represent clients with civil cases regarding sales tax on an open or closed business. We also accept criminal cases in Florida on a case-by-case basis. For more information, please contact our office today for your free initial consultation.