Mike Rasmussen, CPA
Founder and CFO
RevRex
With over 35 years as a CPA, Mike has successfully resolved over 200 tax controversies for small business owners (SMBs) being audited by various taxing agencies. He created RevRex as an online, secure portal to reconcile third-party data and quantify a tolerance score, exposing discrepancies to investigate. This scoreboard was designed to be a communication tool between the client and his CPA Firm, allowing the SMB owner 24/7 access to results. When a state taxing agency inquiry was received, Mike placed the burden immediately back on the state to prove their third-party database matching tool. RevRex empowered his firm to initiate a culture of accuracy and preparedness, by proactively matching CPA delivered results with third-party databases – beating state taxing agencies to the punch.
Less Paperwork,
More Control.
Gain the leverage you need to challenge any tax audit.
Keep clients happy and auditors at bay.
RevRex provides you with the confidence to fight an audit that challenges your engagement services offered to SMBs. By becoming a more proactive business advisor, it will allow you increase your client satisfaction and retention.
And you’re not just helping other small businesses. RevRex helps you build value in your practice, standardize processes, and make ownership transition a breeze. It’s a win-win!
Protect your clients and your reputation.
In 80% of state and federal audits, the business owner and tax advisor agree to the terms set forth by the auditor. Why? Because they don’t have their reported business data organized for a taxing agency auditor to consume. They have no leverage. And, the burden of proof is ALWAYS with the SMB and tax advisor!
Taxing entities are digging deep, preparing for audits while you go about your daily business.
Tax advisors are no longer equipped to react to the demands of increasingly aggressive taxing agencies. With offices running leaner, lengthy audits can irreparably harm a business and the tax advisor’s reputation. A reactionary approach to audits doesn’t work anymore.
All tax returns filed are time bombs. Accuracy is challenged by a taxing agency accessing a third-party data source for compliance. Agencies have the resources to place an extra burden of proof on the SMB in a constricted time period to respond.
Federal and state governments are focused on maximizing tax receipts. Outdated audit manuals, following the “this is how we’ve always done it” procedure are helping them achieve that goal.
New electronic payment methods from emerging online distribution services, such as DoorDash and Uber Eats, complicate tax reconciliation, creating a “grey area” for interpretation by the taxing agency; usually to their benefit.
