Rodman & Rodman PC warns that the “use tax” audits are on the rise

Rodman & Rodman Certified Public Accountants and Business Strategists alerts taxpayers to a significant increase in the use of tax audits. enforcement efforts of Massachusetts and the collection, including tax audits occurred taxpayer to acquire the assets (such as computers, furniture and equipment) from that of public providers.

In many cases, auditors assess use tax for up to six years. This can lead to important conclusions that Massachusetts not only to impose the use tax but also penalties and interest.

The law requires that taxpayers pay the use tax in Massachusetts (similar to a sales tax) to purchase under the State if the seller does not collect tax Sales of Massachusetts and is being used in Massachusetts.

The most typical example of this usually involves a taxable purchase of a computer under the state suppliers and the use of these devices in Massachusetts.

It is important to your documentation for such expenses and run the tax form to the appropriate use of the Massachusetts Department of Revenue web site and the necessary taxes.

Rodman & Rodman recommends that taxpayers use tax return even if they owe no taxes because it reduces the risk of an audit file. In addition, the tax begins to use the clock on the statute of limitations.

By Thomas Astore, Tax Director Rodman & Rodman, a general tax on the use of state for three years can be assessed;? But the statute of limitations remains open indefinitely if you do not file the necessary declarations. We encourage you to consult your tax advisor if you questions.â p ???? A

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Rodman & Rodman, PC provides accounting services in England, tax and business services for small and medium businesses across the New. By focusing on strategic planning, Rodman & Rodman goes beyond traditional accounting and adopted a proactive approach to increase the customer to maintain and preserve customersâ? financial assets.