Loading...
HomeMy WebLinkAbout6-30-2017 TRS TRACFONE SCHEDULES EMAIL Hi Jan, Hope you are doing well and enjoying the sunshine. Here is a copy of the TracFone tax schedules and the methodology of how we did the audit. Below is the explanation that will help you navigate how, what and why we have done them this way: So much of this audit had to be estimated; the information we needed was not available, so we estimated the data we needed by using data they actually had collected. If you have questions on the schedules, since they are much more complicated than typical ones, the Methodology sheet should help. To read the schedules: 1. Notice that the Original Tax Reported Sheet is blank. No tax was reported. That part is easy! 2. The Unreported Revenue Sheet has columns defined on the Methodology sheet, but to simplify: -The Non-Direct Sales column D is calculated by multiplying all the Direct Sales (sum of next 4 columns) times proportions given to us by TracFone. -Page Plus Air and Page Plus don't show up until 2014 so those columns are empty. -The actual Billing Platform Sales and APP Direct Sales values that were given to us from TracFone are listed in columns U and V. -Columns U and V are read into columns D and H and reduced by the factors explained on the chart that is found in columns J through Z. 3. The rest of how the charts work you are familiar with. Also, this audit stops in May of 2013, and TracFone wanted us to stay within the original audit period. The revenues have been increasing greatly over the years, so if we open another audit to recover the rest of it, the second audit would probably be about the same amount as this one if not more. Also, have you had a chance to review our proposal of conducting an audit on AT&&/New Cingular. I do believe that this audit would be a very good audit for the City of Renton. Let us know if you have any questions. Thanks Jan. Have a great weekend. Mike This email and any files attached to it are the property of Tax Recovery Services, LLC. The contents may be confidential and proprietary, and any use or distribution of the information contained herein may be prohibited by law. If you are not a named recipient, or if you have received this email in error, please notify the person who sent it, and immediately delete it.