When it comes time to deal with an audit from a state revenue department, it’s easy to get caught up in the battle of disputes, interpretations and questions that seem aimed at digging out a huge assessment. But losing your cool in this pressure-packed situation can create lasting damage in your company’s tax compliance efforts. Former state revenue commissioners shared their insights with CCH editors on how to manage relationships with the state revenue departments so as to get the best possible results for your company. Never underestimate state employees, they warn. Look at how many of today’s top tax practitioners used to work for the state, notes William E. Halmkin, a senior partner with Sullivan and Worcester in Boston and former deputy commissioner for Massachusetts. And, whatever you do, don’t call the governor’s office to use your “pull” to influence an audit. Why? Click the link below for the full article to get the answer.
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This story is from the CCH’s monthly Focus on Tax newsletter, which provides advise and guidance on federal and state tax issues for tax and accounting professionals.
Read this article from CCH’s Journal of Taxation of Financial Products.