Bulk of Businesses Overpay IRS, says Auditor

Auditors from the private company Profit Alliance, Inc. are so sure businesses overpay taxes they’re betting their fees on it.

ProfitAllianceInc.com - November 14, 2007

(PRNewsChannel) / Chicago, Ill. – Unsure whether your company pays just the right amount in taxes?  Why not find out, for free.

The bulk of businesses—small and large—pay too much to Uncle Sam, according to Profit Alliance Recovery Consultants, whose top experts and auditors comb through other companies’ expenses or tax filings at no charge.  They’re finding that, on average, businesses overpay thousands, sometimes tens of thousands of dollars per year and are completely unaware. 

So the company has developed an interesting business model.  Your company gets a free audit.  If your numbers are right on the money, your company pays nothing.  If Profit Alliance finds overpayment, it shares in the new found wealth that can still be reclaimed from the IRS.

“It’s a total win for companies, they literally have nothing to lose,” says Kristen Lain, President and CEO of Profit Alliance.

Profit Alliance and its network of auditors have helped companies find millions in overpaid taxes and tens of millions in overpaid expenses.  Company experts discover mistakes and highlight overcharges.  They literally find money that should never have been paid to Uncle Sam or service providers such as telecom, utility, credit card processing, and utility companies.

“It’s is truly a multi-billion dollar epidemic that is costing the average consumer nearly $10,000 per year,” says Kristen Lain, President and CEO of Profit Alliance.

According to an investigation conducted by the government’s General Accounting Office (GAO) in 2002, the IRS returned about $18 billion dollars to small businesses over a two year period for overpayment of taxes.  

“That number only represents the companies that discover they overpaid,” says Lain.  “What about the companies that overpaid and don’t know it, which is the majority?”

About Profit Alliance:  Profit Alliance assists small to large companies realize lower expenses, lower taxes , and greater profits through no-cost reviews.  Profit Alliance is part of the not for profit group, America's Commerce Exchange (ACE).  ACE is comprised of top business experts, elite consulting and tax firms, and thousands of businesses coast to coast. The company audits telecommunications billings, credit card processing fees, insurance policies and utilities.

Contact:  Glenn Selig, ThePublicityAgency.com
Email:  glenn (at) thepublicityagency.com
Phone:  (813) 300-5454
Web site:  www.ProfitAllianceInc.com 
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Source: ProfitAllianceInc.com