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Case Studies:  Tax Minimization & Recovery
Sales & Use Tax Case Study

OSG Saves a Commercial Leasing Organization Over $200,000 by Reducing Outsourcing Expenses.

Industry:  Financial
Client Profile:  Commercial Leasing Organization

The Challenge
A large established equipment leasing company engaged OSG to implement the OSG Sales Tax Compliance Program and to administer the sales and use tax reporting and payment function. Upon our initial review of the clients prior period filing activities and payment history, OSG noted that the client had not remitted payments to approximately 35% of the proper jurisdictions. Additionally, in a majority of the jurisdictions where the client was filing, the tax rates being utilized for collection and payment were outdated and incorrect.

The Solution
OSG immediately updated the tax rates being utilized by the client to insure accurate collections from their customers and proper remittance to the taxing authorities. OSG also immediately began performing an analysis of potential liability for prior period taxes owed, but not yet remitted. After completing the analysis, the client requested that OSG enter into Voluntary Disclosure Agreements with all jurisdictions where taxes remained delinquent and unpaid.

The Results
OSG went to work anonymously contacting each jurisdiction on behalf of the client. The result of OSG’s efforts was to eliminate approximately $200,000 in penalties and interest associated with non-payment of prior period taxes. Upon negotiating the removal of penalties and interest, OSG filed all necessary SUT returns for prior periods, and paid the back taxes thereby getting the client into 100% compliance and avoiding the usual financial costs associated with non-payment of taxes.

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