State Tax Lawyer
Some of the most significant challenges facing businesses are income, sales, use, and specialty taxes by state governments to collect revenue. These taxes are often confusing and hard to track without proper accounting systems in place. This usually results in additional tax assessments through audits where estimated figures can be used if records and accounting information were not properly kept or recorded. To make matters worse, regulations and guidance are often limited at the state level, sometimes making the outcomes of tax disputes unpredictable. In some situations, a state tax audit can lead to a criminal investigation.
States have become increasingly aware of discrepancies between what was reported on a company’s sales and use tax return and its actual sales. Under Tennessee’s “Retail Accountability Act,” for example, the state is authorized to request a retailer’s wholesale purchase records, which are then compared to sales. These records are often the basis of an audit when possible underreporting is detected. It is essential to consult with a Tennessee tax attorney immediately if your business has been audited.
One of the most important steps toward resolving any state tax issue is compliance with all tax filings. Filing past-due returns ensure compliance while also providing the starting point for a possible tax settlement or payment arrangement. Our team at Andrew Wagner Law is ready to prepare and file any unfiled state tax returns, including Sales & Use, Franchise, Excise, and Hall Income tax returns.
We are a remarkably established law firm, spurred to achieving milestones and successfully winning landmark cases. We work on making things better for our clients and not legal matters affect their lives for long. Contact us today, and let’s work together.