Sales Tax Audits

Many New York City businesses collect state and city sales and use taxes on several different types of goods and services. They report those amounts to the state and city on quarterly or monthly sales tax returns. New York State frequently audits businesses that accept larger amounts of cash for payment, especially if it is a business that is less than 2 or 3 years old.

A sales and use tax audit evaluates your business’s compliance with local laws. It also examines whether or not your business has purchased something in another state that should be subject to the “use” tax portion of the rules. If your business is selected for a sales tax audit, the tax accountants at 212 Tax can help.

Do not wait to address the issues until after being served with a large tax bill (otherwise referred to as an assessment). The longer you wait, the more penalties and interest you may owe. Ignoring an audit notice can lead to frozen or seized assets, making running a business nearly impossible. Our team will analyze your existing returns and documentation, and provide you with the representation you deserve.

Sales tax audits are serious business, but with experienced representation, you can often achieve a more favorable outcome. At 212 Tax, our tax accountants know New York State sales tax audit procedures, and we will provide you with experienced and proactive representation. Our tax accountants can help you survive a sales tax audit so that you can preserve your assets for future growth.

The state sales tax audit accountants at 212 Tax can:

• Review your existing returns and negotiate a more favorable outcome
• Prepare and file new quarterly state returns that assure sales and use tax law compliance
• Negotiate reduced or eliminated penalties and interest charges
• Help your business lift restrictions on frozen bank accounts

If your business is facing a sales tax audit, don’t delay. Schedule a free consultation with the 212 Tax expert team today.