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It’s a safe bet that state tax authorities will let you know if you haven’t paid enough sales and use taxes, but what are the odds that you’ll be notified if you’ve paid too much? The chances are slim — so slim that many businesses use reverse audits to find overpayments so they can seek refunds.
September 11, 2017 Stuart Mordfin, CPA, CGMA statute of limitations, IRS audit, state tax authorities, sales and use tax, manufactured products, money back, manufacturing, recycling, utilities and chemicals used, custom software, sales and tax compliance, state tax reviews, state auditors, reverse audit, overpayments, industrial processing exemptions
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