How To Prepare For A Texas Comptroller Audit

Dealing with sales tax is one of the most challenging parts of owning a business. Not only do you need to know which items are exempt and which aren’t but you also need to accurately collect, report, and submit the tax to the proper state agencies. Trying to do all of this flawlessly is a full-time job in and of itself.

The Texas Comptroller is responsible for making sure that businesses comply with all of the sales tax laws. They periodically conduct audits of businesses to make sure that taxes are being collected and reported correctly. Getting notified that you are going to be facing a Texas Comptroller audit can be a bit frightening.

Image result for How To Prepare For A Texas Comptroller AuditUsually, however, there is no need to be afraid. Auditors aren’t out to get you. Instead, they are there to ensure that your business is following the law and that you aren’t under or overpaying your taxes. In some cases, they may discover areas where you are paying more tax than necessary. This can help save you money in the long run. Even if they do find problems, they will usually give you a chance to resolve them.

Preparing for an audit can help make the process go more smoothly. When you receive notice of an upcoming audit, you should begin gathering together all of your documentation. The more organized your paperwork is, the easier it will be for the auditor to complete the process. Good record-keeping can make the audit go much more smoothly, minimizing the disruption to your business.

Don’t hesitate to ask any questions during the entrance conference. The auditor should be more than happy to provide you with answers and to give you the clarity that you need. Together, you should be able to come up with a way to efficiently complete the audit that has as little impact as possible on your business.

If the auditor finds problems or if there is something that you don’t agree with, you can request a hearing. If you do this, you should consider hiring a lawyer to represent your business at the hearing. There are many comptroller audit lawyers out there who can help you challenge any findings that you don’t agree with or that you find questionable.

The more prepared you are for a Texas Comptroller audit, the less likely you are to run into any issues. By organizing your records before the audit begins, you can help the process go as smoothly as possible.

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