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Efficient Sales Tax Reporting Project for Overpayments Resolution

Manage overpayments and liabilities with a comprehensive taxation project. Prepare data, file amended returns, and communicate effectively for potential audits. Secure job status and ensure accurate tax reporting for long-term efficiency, ultimately leading to significant tax recovery. Utilize BOBO and Data Warehouse reports alongside state tax resources for success.

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Efficient Sales Tax Reporting Project for Overpayments Resolution

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  1. United States Sales TaxReporting Overpayment/Liability Project

  2. Taxation Complex • Food • Prepared food • Supplements • Tangible personal property • Bundled products

  3. Product Taxation Matrix

  4. Product Taxation Matrix Continued

  5. Mini-Audit • Archaic BOBO reporting • New DW reports • Liabilities • Overpayments • Calculated estimated liabilities

  6. Resolution • Prepare data for new sales tax returns • Combine overpayment data and liability data • File amended returns for periods in statute • Communicate • Prepared for audits

  7. Conclusion • Short Term – Job Security  • Long Term – Efficient and Accurate Sales Tax Reporting • The net result of the project is recovering thousands of dollars of over-remitted tax!

  8. Sources • BOBO Reports • Data Warehouse Reports • State Summary • Taxability Matrix Data • Various State Taxing Authority Websites

  9. Questions & Answers

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