Some businesses regularly file no-sales-tax-due returns because they don’t have any sales for that month that are subject to tax. In most states, you still need to file a return even if you’re not remitting any payments. If you’re one of those businesses, you might not be doing your sales tax correctly. You might be missing out on refunds for overages. When you have an easy month for sales tax, you’re freeing up a lot of time. Although you might see this as an opportunity to get caught up on other things in your work, don’t ignore sales tax just because you have a zero balance due for that filing period. Instead, use the time to focus on ensuring your past filings were correct for the months when you did file a balance due.
Finding time to audit past sales tax filings is one of the hardest things to do for most companies. Who has time to look backward in a work atmosphere that’s always looking toward the next thing? However, finding those miscalculations can be a big boon for your company and provide much-needed revenue. So how do you check back through past sales tax filings? The best way is to pick a start date to look back to and go forward from there. If zero sales tax filings aren’t uncommon for your business, you can work through quite a few filing periods and make it part of your regular routines.
Our RecoveryLINK software makes it easy to check past sales tax filings in just minutes. It verifies information, finds errors, and lists every problem on a separate report that can be filed with your state entity for a refund. It’s so fast you can recover months’ worth of filings in the same amount of time it takes you to file one new period. Give it a try in our free evaluation.