Fixing a Mess
Pivotal Tax Solutions was engaged to provide property tax consulting and personal property compliance services for a major building materials provider with locations in multiple states and several geographic regions across the country. Upon commencing work, Pivotal quickly discovered that the client was suffering from a decentralized fixed asset accounting program, and had difficulty reporting fixed asset nexus at many locations due to asset portability. These compliance challenges were exacerbated by inaccurate reporting of asset locations and inaccurate and inappropriate “estimated value” reporting by a previous service provider. Furthermore, the client was not provided copies of any previous year’s return data. The Pivotal team, while engaged just before the client’s largest compliance filing deadline, essentially started from scratch and was able to file all appropriate returns timely, and ultimately rectify the numerous issues discovered that exposed the client to significant liabilities. Additionally, Pivotal’s Real Estate team was able to significantly reduce the client’s real property tax exposure by leveraging industry knowledge and site visit details to present numerous cases for successful appeals.
Concurrently, Pivotal’s indirect tax team was engaged by the client to assist with a multiple-year sales and use tax audit. After several visits to the locations under audit, and personal site visits with the auditors, Pivotal was able to settle the audit with the state leading to tax savings for the client of over $1 million.
By relying on Pivotal’s team of state and local tax experts, our client was able to address a multitude of concerns and issues across a broad territory through a singular engagement.
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