Okla. Admin. Code § 710:90-7-1

Current through Vol. 42, No. 7, December 16, 2024

Section 710:90-7-1 - Examination of return, adjustments, notices, and demands

(a) If, upon examination of the books of account and records of the person filing the withholding tax return, facts are obtained which, in the opinion of the Commission, warrant an adjustment of the tax liability reported, a proposed assessment report will be prepared and mailed to him. This report will contain an explanation of adjustments together with a recomputation of tax in accordance with such adjustments.

(b) The notice of adjustments and the demand for payment (if additional tax is due) or any other notice or demand upon the person filing the return required by law shall be sent to him at the address given on his return or to his last known address. In the alternative, the Commission may cause to be served upon such person a written statement of the computation of tax due.

(c) In the event the person filing the return acquiesces in the changes reflected on the proposed assessment, or fails to file a protest within the period specified in the letter of proposed assessment (or any extensions allowable by Statute that have been granted by the Division) the proposed assessment becomes final.

(d) If the Commission has reason to believe that the collection of any tax due under the Withholding Tax Act may be in jeopardy, the Commission may immediately terminate the reporting period of the person required to pay such tax. Thereupon, the Commission may assess a tax on the basis of information or knowledge available to him and demand immediate payment. If such payment is not immediately made, the Commission may collect the tax by the use of any of the methods authorized by law.

Okla. Admin. Code § 710:90-7-1