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Voluntary Disclosure

Companies with business activity in other states may be required to collect and report sales/use, withholding or income tax to those states. When a company discovers it has a reporting responsibility to a state that it is not registered with, a Voluntary Disclosure Agreement is an effective tool for tax registration and payment of unreported tax. Tax Abilities will negotiate with revenue departments the look back period, interest and penalty issues to limit its client’s tax liability exposure. Best of all, the client remains anonymous throughout the negotiations and has the final word as to whether to accept the agreement. Tax Abilities has successfully negotiated several Voluntary Disclosure Agreements.

Advisory Rulings

Advisory rulings are written rulings from revenue departments pertaining to specific tax issues. Requests for rulings are seeking guidance and interpretations of tax law and application. On behalf of clients, Tax Abilities will request rulings on a variety of complex tax issues. Why have Tax Abilities write the request for you? Because the professionals at Tax Abilities are knowledgeable about the laws regarding requests, they know who the contact person is who will answer the request, and they know the exact terminology to use to clearly and concisely write an effective request.

 

 

Compromises

Offers in Compromise are negotiated agreements with revenue departments for payment or nonpayment of tax liabilities. Because Tax Abilities’ experts have the tools to effectively negotiate with revenue departments, Offers in Compromise can be a favorable means of settling a tax dispute whereby some or all of the other avenues available to taxpayers have been exhausted. 

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Offers in compromise can be negotiated during audit appeals, as well. Contact us we can help you!


 

Overpayments

Tax Abilities will review your operations, records and tax reporting procedures to identify areas of tax overpayment. Our analysis also includes identifying areas of tax underpayment. Typically our review results in a net tax overpayment that is refunded to our client. If Tax Abilities discovers that a client has underreported substantially more than it has overpaid, our experts inform the client of this and Tax Abilities walks away without payment for services. 

 

IT'S SIMPLE - IF WE CAN'T SAVE YOU MONEY, WE DON'T GET PAID!


 

Assessments

Because Tax Abilities’ experts know Maine tax laws, audit policy and procedure, they are extremely adept at reversing and reducing tax assessments. When a business is audited a revenue agent examines the business’ records looking for tax underpayments. Underpayments discovered by agents then become the tax liability of the business; however, the majority of tax liabilities can be reversed or reduced with knowledgeable effort. Obtaining the proper documentation and discussing tax issues in the agent’s language are two of many ways that Tax Abilities reverses and reduces client’s tax liabilities.

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Some of What We Do . . .

Audit Representation

From start to finish, we handle all aspects of a Maine Sales Tax audit, Maine Fuel Tax audit, or IFTA/IRP audit, so that our clients aren’t interrupted from their normal business day. Tax Abilities is well-known and sought after for their effectiveness at managing audits by Maine Revenue Services. We know what info is needed, why it’s needed and, most importantly, we know how the law should be applied.

 

We've been so successful in this area, that once an audit is completed, it's rare for the auditor to return down the road.

 

 

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