An October 2009, Open Records from State Representative Mike Reynolds, resulted in auditors discovering tax credit documentation was missing. And, there had been no audits of tax credit claims since Tony Mastin, took over as head of the Oklahoma Tax Commission, in early 2007.
To put this is perspective, at this time, claims processors were still trying to reconcile $60 million in tax credits, they recently issued after being instructed to hurriedly issue refunds, without auditing first. The pressure to hurry when claims processors were confronted with processing $60 million in tax credit refunds, for more than 1,600 claims, that suddenly appeared, after being stored in boxes for up to two years. There was no functional records or tracking system. View more
While this request was unrelated to the recent issuing of more $60 million in tax refunds for 2006 tax credits, auditors were restricted to only year 2007 when contacting capital companies responsible for the missing documentation. Totally ignoring the problem laden 2006 tax credits which totaled $165 million. $165 million included a $30 million over crediting caused by a lack of documentation, and a records and tracking system.
Even then auditors found numerous problems with 2007 claims, as described below.
Charles Robertson, one of the Oklahoma Tax Commission's two field auditors. Robertson described his findings in an email sent to his supervisor, Monty Bivens. Bivens forwarded to Tony Mastin, who would be ignore. Below are key parts of the email, or click here for a copy.
Three weeks later, Charles Robertson would again be ignored, when requesting what actions to take regarding a separate claim involving $800 million in tax credits. A Venture Capital tax credit claim by a Bank of Oklahoma subsidiary, CottonWood Valley Ventures. View more