Georgia has to cut the City of Augusta a million dollar check.

During a time when most states are facing major budget deficits, Georgia, a state with an estimated $2 billion shortfall, must issue a fat check to the city of Augusta to the tune of $1 million. A reverse audit revealed that the Garden City of the South had been overpaying sales tax for 3 years on utility projects. Had it not been for recent changes to the law, Augusta would have never known that the mistake occurred. 

Reverse audits are a great way for organizations to identify and recover tax overpayments, missed credits, exemptions or refund opportunities. Officials now see reverse audits as a means to bring in additional funds to the city and are are hoping to see similar outcomes for other departments.

Are you looking to reduce your current sales and use tax liabilities? If so, your next step should be to implement a true end-to-end sales and use compliance solution. You will find that best-in-class solutions provide assurance that your exemptions are claimed and all sales and use taxes have been correctly billed and paid. If you are interested in learning how your company can benefit from audit defense solutions and reverse audit services, contact us today!