CHALLENGE
With the ever-changing state and local tax laws, virtually every business requires trained professionals to manage the compliance and reporting related to transaction taxes. Additionally, it is becoming increasingly difficult to hire and retain the talent necessary to ensure accurate and timely remittance of transaction tax.
SOLUTION
Our Transaction Tax compliance services team can lighten your compliance burden, free up tax professionals and accounts payable resources for other value-added activities, and dramatically lower your operating costs. In addition, we can help you decrease your audit exposure and lower your tax risks, produce accurate and relevant data, as well as position your department in a more proactive tax planning position.
The business objective for outsourcing the Transaction Tax function includes the following:
• Reduce day-to-day management of the compliance process
• Redeploy key resources to higher-valued functions
• Streamline internal tax operations (e.g., cost, headcount, manual processes)
• Allow client management to focus on core business strategies
• Minimize overpayments and errors on returns to reduce volume of notices and penalties
• Access to experts in multi-state transaction tax rules and regulations and compliance
• Ability to identify other opportunities and areas of risk and exposure
• Incremental savings on licensing transaction tax compliance software
• Mitigate risk of inconsistencies resulting from personnel turnover
Our service offerings are tailored to meet the clients’ individual needs, and we do not advocate the “one size fits all approach.”
Services offered:
• Monthly tax return preparation
• Account reconciliations
• Responding to notices
• Payment processing (Checks and EFT)
• Certified mailing of all paper returns
• Electronic filing of all EDI returns
• Maintain filing calendar
• Electronic data storage of all documents (Adobe PDF)
• Management reports
• Sign return as paid preparer
• Utilize state-of-the-art compliance software (Vertex Q Returns)
THE TRUE PARTNERS TEAM
Donald R. Bast, Managing Director
312 235 3301 |
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Bruce H. Davis, Managing Director
312 235 3302 |
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Dena J. Hall, Managing Director
213 417 2509 |
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Tracey G. Sellers, Managing Director
813 434 4004 |
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Karen M. Horne, Senior Manager
312 924 3237 |
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