Frequently Asked Questions
1. Why should we partner with TMS if we have an in-house accounting team?
While your accountants handle daily tasks, Tax Management Services (TMS) specializes in identifying tax recovery opportunities that internal teams might overlook. With our expertise in complex sales tax laws and audits, we ensure maximum refunds and compliance, giving your team more time to focus on core operations.
2. What are the key benefits of conducting a sales tax review?
A sales tax review uncovers missed tax credits, identifies overpayments, and ensures compliance with current regulations. This process not only recovers funds but also prevents future tax liabilities, boosting your bottom line.
3. What is your fee structure?
We operate on a contingency fee basis, meaning there are no upfront costs. You only pay when we successfully recover funds for you, ensuring a risk-free partnership.
4. How does TMS differentiate from our current consultant?
TMS provides the advantage of former government auditors, in-house legal counsel, and over 30 years of industry experience. This combination ensures a more thorough, strategic review and maximizes recovery opportunities beyond what typical consultants may identify.
5. How long does the recovery process take, and how do you ensure minimal disruption?
Typically, the process takes 60 to 90 days. Our experienced team works efficiently to recover funds quickly while ensuring every detail is accurately addressed. Our tax recovery process is designed to be as non-intrusive as possible, with minimal disruption to your daily operations. We handle all aspects of the review efficiently, requiring minimal involvement from your team, allowing you to focus on your business while we recover your funds.
6. How do we ensure we are getting all our entitlements?
Our in-depth reviews identify every eligible tax credit, refund, and exemption available to your business. We stay updated on tax law changes to guarantee that all potential entitlements are maximized.
7. Which industries can benefit from a sales tax review, and are there any limitations?
There are no limitations to the businesses we can work with. Companies of all sizes and across all industries—whether manufacturing, retail, construction, or professional services—can benefit from a sales tax review. We tailor our services to meet the specific needs of each industry, ensuring that no recovery opportunity is missed.