| Benefits of the Managed Audit Program |
|
We find that businesses being audited by the Washington Department of Revenue benefit from participating in the Managed Audit Program. In a managed audit a business self-performs the audit procedures then reports its results to the auditor for review. There are numerous benefits to a business in the Managed Audit Program, including increased control over the audit process, a better understanding of state tax reporting and documentation obligations, and identifying refund opportunities. If additional tax is due as a result of the audit, up to $5,000 of interest is waived.
Result #2: We recently assisted a client through a managed audit. During the process we identified several tax overpayments that may have been missed in a standard audit. As a result of the managed audit, our client received a refund of over $25,000, and now has a more efficient and effective system for calculating and reporting Washington state taxes.
If you have questions about Department of Revenue audits, contact Darcy Kooiker, CPA, Principal, Director of State and Local Tax Services.
dkooiker@bpcpa.com or 425.289.7609
|
425.454.7990 fax: 425.454.7742 |
