Managing accounts

Federal Tax Services
A closer look at interest computations.

Incorrect interest calculations may result in your company paying more interest than is owed or receiving less interest than you are due. The Treasury Inspector General stated the IRS could be overcharging taxpayers by nearly $250 million in interest over a five-year period.

Helping identify interest miscalculations and refund opportunities

Identifying and correcting interest inaccuracies is complicated by the highly technical nature of interest issues, ever-changing guidance, and inconsistent interpretations within the IRS. Accurately tracking IRS transactions among tax types and tax periods is difficult and working through IRS bureaucracy to resolve issues uses valuable corporate resources. Companies have recovered millions of dollars in overpaid interest from the IRS.

We can help you with:

  • Understanding IRS calculations
  • Identifying potential computation miscalculations
  • Developing appropriate recovery and prospective settlement strategies
  • Securing potentially significant refunds with minimal impact on your internal resources
  • Obtaining refunds more quickly
  • Establishing and maintaining current, accurate IRS accounts, potentially minimizing costly future problems
  • Reviewing state tax accounts and related interest computations

For more information, contact one of our Managing Accounts professionals today.