Wednesday, November 11, 2015

Rhode Island Division of Taxation Self Audit

The Rhode Island Division of Taxation last week began mailing letters to 9,600 businesses and individuals to let them know about Rhode Island's new self-audit program.

The Division also let practitioners know about the mailing in case they receive any calls or emails from clients who have questions. The self-audit program is voluntary; the letter is intended simply to get the word out and get the ball moving. 

Rhode Island Tax Administrator David M. Sullivan says that the self-audit program is a great opportunity for taxpayers, especially businesses, to clear their books of a use tax liability and get a significant break in the form of a penalty waiver and interest forgiveness.

The first batch of 3,300 letters went out November 4; additional mailings are planned. But the program is not limited to those who receive letters. Practitioners may have other clients who would benefit, and the Division invites practitioners to encourage them to apply.

The program has its own webpage, which includes the program application, FAQs, and other information.

Information about the self-audit program is also available by calling the Division of Taxation’s Field Audit section at (401) 574-8962 from 8:30 a.m. to 3:30 p.m. business days.

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