The first thing to determine is whether or not you do, in fact, owe back sales taxes. What you’ll need to do is go carefully over the books, preferably with the help of an experienced bookkeeper or accountant, and check your sales records for any discrepancies. It’s not unusual for the Oklahoma Tax Commission to make sales tax claims in error, or as a result of a computer glitch.
If, as is more often the case, you were negligent in collecting or forwarding your store’s sales taxes, you may be facing a more difficult situation. The OTC doesn’t really care if you never collected the 4.5 percent sales tax in the first place, or if you did collect it and decided to apply the funds to your bottom line (so as to stay in business) rather than forwarding them to the state. Either way, the presumption will be that you stole the money, and the authorities will pursue you as relentlessly as they would a bank robber (though hopefully without using any guns).
If you’ve held back on your Oklahoma sales taxes, or never collected them in the first place, you need to hire an experienced tax lawyer who can go toe-to-toe with the OTC and secure the best possible disposition of your tax debt. Since the state of Oklahoma doesn’t want to drive people out of business, your attorney from Travis W. Watkins, PC may be able to hammer out an extended payment plan, allowing you to catch up on your debt without having to go bankrupt. Call today for a free consultation!