Achieving 100% sales and use tax compliance, while a worthy goal, is not sustainable nor cost effective. Accordingly, errors will occur. However, these errors can go both ways. Our experience shows that where exposure exists, so do overpayments. Resource constrained companies, particularly in an environment of close scrutiny of financial statements, prefer to be conservative in paying tax. As a result, companies overpay sales and use taxes and fail to maximize available tax credits.
Downey, Smith & Fier efficiently identifies refunds and additional tax credits with minimal client involvement. Companies not only receive cash refunds but realize prospective cost savings from our findings.
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