For Immediate Release
October 1, 1999
TEXAS ADOPTS A MANAGED AUDIT PROGRAM
KERRVILLE, TEXAS - Approving a recommendation by Texas Comptroller Carole Keeton Rylander, the 76th Legislature enacted into law S.B. 1319, which offers certain taxpayers the option of self-managed audits.
Following similar legislation in states such as, California, the managed audit program allows businesses with a good tax-paying history to conduct their own tax audits under the supervision of the Comptroller's office. To determine whether the correct tax has been paid, a representative sample of business records are audited. If during the course of the audit, it is revealed that the company has underpaid its taxes; penalty and interest are waived in exchange for the self-audit. The Comptrollers objective is to free auditors' time to audit suspected tax cheaters as well as save time and resources for businesses and for the state, while ensuring all businesses pay the taxes owed.
The SALT Group®, headquartered in the panoramic "Hill Country" of Texas, is one of the largest state and local tax consulting companies in the United States with offices in Kerrville and San Antonio. The company specializes in providing state and local tax services.
PRESS INFORMATION CONTACT:
Harlan J. Hall
The SALT Group®
(830) 257-1290
E-mail: harlanhall@thesaltgroup.com
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