Chicago Accounting Articles
Feb 28, 2013
Updated July 27, 2015 IRS Examination Process Chicago Illinois Although every IRS Audit is a little bit different, they all have common elements. It begins when they send out a letter that basically does six things: Informs you of the examination...
Feb 28, 2013
Updated August 13, 2015 IRS Audit Selection Process Chicago Illinois So your business has been selected for audit by The IRS. What do you do now? Call or e-mail one of our specialists today. Don’t panic. The Service is only doing its...
Feb 28, 2013
Updated August 13, 2015 What is a Sales Tax Audit Chicago Illinois By definition, an Audit is an examination of claims. The numbers that are put on the ST-1 or Sales and Use Return are claims. Example: We claim that we had $100,000 in...
Feb 28, 2013
Updated July 27, 2015 IRS Audit Business Loss Chicago Illinois An IRS audit on a business’losses If you are being audited on a business that produces consistent loses, you might be asking “Why would the IRS do such a silly...
Feb 28, 2013
Updated July 27, 2015 IRS Audit Adjustment Chicago Illinois At the end of an Internal Revenue Service Audit, one would hope for what is called a “No Change” letter. This basically means that they haven’t found any material changes which...
