Tax by Industry: Federal Government
Activities of the federal government often carry tax consequences. As with the private sector, the complexity of tax issues can lead to lost money, a regulatory quagmire or both.
For instance, important improvements to the business of government, such as information sharing, financial transformation, reducing improper payments, public-private partnerships and upgrading information technology systems governmentwide involve many types of tax issues. Are you paying unnecessary sales taxes on multimillion-dollar software or vendor purchases? Are tax payments causing leakage in your international supply chains? Is the increased need for purchase cards, travel cards and cash debit cards receiving proper attention from a tax perspective? Are you claiming the appropriate excise tax refunds on fuel payments?
Also, as the largest U.S. employer, the federal government deals with many work force and independent contractor tax issues. Major organizational initiatives and changing work force demographics increase the potential for errors in withholding and other payroll data. Meanwhile, benefits to employees — or even to other groups, such as those involved in various industry and class-action settlements — need to be properly calculated and reported.
As you follow directives to boost services and efficiency, tax can play a crucial role. Our team can help you pursue savings and simplify processes. Learn more from the PDF attachment at the bottom of the page.