Updated July 24, 2015
Sales Tax Audit Chicago Illinois
Recently we have had a large increase in the number of sales tax audits occurring not just in Chicago, but in the entire State of Illinois.
It seems that whenever the State runs out of money, they simply increase the number of audits, which in turn increases their revenues.
The term Sales Tax Audit is actually a misnomer. All of the taxes collected by The Illinois Department of Revenue will generally be examined. They are not just looking to enforce existing sales tax law, but also Income, Use, and Payroll Tax Law.
No matter what business you are in, because they are enforcing four different types of tax law, a sales tax audit is not a laughing matter. If you are a manufacturer, a general contractor, or another business that has never collected a dime of sales tax during its existence, take this seriously. If you are not handling your payroll taxes properly, then this will turn into a nightmare. If you haven’t reported all of your income, you could be guilty of income tax evasion. Don’t try to handle this yourself.
If you are having problems with your Sales Tax Audit Chicago Illinois or have issues with your accounting in general, we would love to help. I enjoy hearing from my readers, and can be contacted at
Chris@AccountingSolutionsltd.com
Additional Accounting Articles and information on my firm can be found at
www.AccountingSolutionsLtd.com
Chris Amundson is the President of Accounting Solutions Ltd., a full service public accounting firm of Certified Public Accountants and Enrolled Agents handling the bookkeeping, accounting, tax preparation, and audit representation needs of Businesses, Estates, Trusts, and Upper Income Individuals