TAARS® is a confidential service that involves a thorough review of corporate taxpayer account records (“transcripts”) maintained by the Internal Revenue Service and by state taxing authorities. TAARS® consists of (i) identifying errors in the computation of interest, in the determination of penalties and in the transcripts, (ii) analyzing the transcripts using Milbank's legal expertise to uncover issues favorable to the taxpayer, and (iii), with client approval, filing claims to obtain any resultant refunds, payments or credits.
TAARS® relates to (a) federal income, payroll and excise taxes and (b) state franchise and income taxes.
TAARS® is offered on a reasonable contingent fee basis, with all expenses absorbed by Milbank. The fee is payable only when the TAARS®-generated refunds or payments are received or credited.
Over the past 18 years Milbank has performed TAARS® engagements for hundreds of major corporations. Substantial refunds were obtained in most engagements. A number of engagements were follow-ups to accounting firms. Milbank is pleased to furnish references from tax executives at corporations that have benefited from TAARS®.