Posted by: Priynka on 2011-11-18, 00:31:20
The sales and use tax reverse audit conducted by tax practitioners is similar in many … & recovery of sales and use tax overpayments remitted to suppliers or filed … directed or advised, sales and use tax may be paid to suppliers in error. .. While many states, including Georgia, require taxpayers to request refunds from the suppliers to whom the tax was originally remitted, others allow taxpayers to request refunds directly from tax authorities. After analyzing erroneous payments and composing the necessary documents, the reviewer prepares the overpayment schedules and presents the findings to the company. Management should look at and discuss the overpayments to identify any potential issues and concerns that may arise. A refund request can trigger a sales and use tax audit.