TTM's Service Options
TTM offers the most flexible service and billing options in the industry. TTM clients may select any one of the following service levels, according to the unique needs of the client, allowing the maximum return on investment on potential refund opportunities.
Technical Support Only
Many companies prefer to complete the required documentation for a claim by themselves. However, they may find that questions arise while completing the claim. In addition, once the foreign tax office has reviewed the claim, additional questions may arise. This option provides for an annual fee in order to access technical support provided by TTM's expert staff via email. In addition, regular updates and changes to refund procedures are provided by email notices.
Fee Based on the Number of Receipts / Invoices
Language barriers may make it difficult for a company to prepare a claim on their own. This service level enables the company to maintain total control over the claim submission, while utilizing the services of TTM experts to prepare the actual claim form. A copy of the receipts / invoices may be faxed to TTM for processing. The claim is returned to the company for compilation, with complete instructions. The company completes the claim and submits it to the appropriate foreign tax office. TTM's fees are based on the number of receipts / invoices that are included on the claim.
Hourly Fees for Service - Fee Limit Based on Service
Trade show and professional services invoices often represent the most significant refund opportunity. While the refund value of these invoices may be large, a fee that is based on a percentage of the refund value may seem inappropriate. The more appropriate claim processing fee may be based on the amount of time commitment by TTM staff. For example, a very large trade show invoice with a significant refund value typically requires a similar amount of time by TTM processors as a small taxi receipt with small refund value. This flexible service option allows the client company to elect the level of involvement by TTM in the claims preparation process, and hourly fees are capped at the ordinary contingency fee. However, with this billing option, the claims processing fees are paid at the time the claim is prepared and submitted to the foreign tax office, rather that when the refund is received.
Claims Preparation Services on Contingency Fee Basis
The most time consuming part of the claims preparation process is the collection of the documentation from a company's expense files. Many companies find that the most efficient method of data collection is to have their own accounting personnel collect these documents while performing internal processing functions. A copy of each document should be retained in expense files while the original invoices/receipts are included in a refund claim. TTM staff will provide the same high level of service, however TTM staff do not provide on-site data collection services. All other management reporting, followup and analysis services are provided.
Full Service on a Contingency Fee Basis
Companies with substantial refund potential and/or a complex organizational structure often need assistance with collecting the documentation required from expense files. In addition, if the company has several locations, branches, divisions, subsidiaries, and/or joint ventures a variety of reporting and analysis is required. TTM will assist in maximizing the refund potential of the entire organization by providing on-site data collection, claims preparation and management reporting. Fees are based on a contingency, based on the actual refunds received.
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Responsibility of Client / Applicant (Company) or Responsibility of TTM International (TTM) |
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Steps in Claim Preparation Process |
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Track claim filing deadlines, qualifying expenses for each country and changes in refund opportunities |
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Develop strategies for preparing and submitting claims to meet deadline |
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Collect invoices / receipts from expense files, make copies for files |
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Obtain Certification of Residency from IRS or relevant tax authority |
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Prepare claim using the appropriate forms, for the acceptable expense categories, and in the language of the foreign government |
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Assemble claim documents, make copy of claim for records |
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Send completed claim to foreign tax office for arrival prior to deadline |
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Receive refund into bank account |
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Respond to inquiries from foreign tax officers in appropriate language |
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Receive claim documents from foreign tax office, review /analyze claim notification for additional refund opportunity or resubmission of disqualified documents |
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Prepare resubmission claims as necessary for disqualified invoices / receipts |
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Accumulate management reporting information |
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