Jun 19, 2015 | Federal Income Tax, Illinois Department of Revenue, IRS Audit
June 19, 2015 I just had a new client come in that had some issues with commingling. The prior accountant had put the companies factory on the company income tax return, and taken an inappropriate deduction for depreciation and other building expenses. We asked...
Jun 18, 2015 | Illinois Department of Revenue, Illinois Sales and Use Tax Audit, Payroll Tax Problems
June 18, 2015 We’ve had an auditor in from The Illinois Department of Revenue on a sales tax audit Chicago Illinois for the past couple of days. We’re in the final phase of hopefully putting this one to bed with no additional tax due. I always get a lot of...
Jun 2, 2015 | Federal Income Tax, Illinois Department of Revenue, IRS Audit, Record Keeping / Bookkeeping
How long should I keep my Tax Records Chicago Illinois? June 2, 2015 You should keep a copy of your Federal Income Tax Returns and the related documents supporting income and deductions for seven years. Under other circumstances, the period is unlimited. If you filed...
May 18, 2015 | Federal Income Tax, Federal Payroll Tax, General Accounting, Illinois Department of Revenue, Illinois Sales and Use Tax Audit, Illinois Unemployment, Non-Filers, Payroll Tax Problems
Small Business Accountant – What to do if you’ve been levied Chicago Illinois You own a small business and you’ve been levied. What do you do now? 1 – Check the amount for reasonableness I’m sure it is difficult to believe, but...
Apr 6, 2015 | Federal Income Tax, Federal Payroll Tax, Illinois Department of Revenue, Illinois Sales and Use Tax Audit
Updated July 1, 2015 Business Tax Preparation Chicago Illinois normally involves three different categories; Income, Payroll, and Sales Tax Return Preparation. Many new customers will say, “Chris, I only need you to do my business and personal income tax...
Apr 3, 2015 | Illinois Department of Revenue, Illinois Sales and Use Tax Audit
Your IBT Number or Illinois Business Tax Number is an eight digit number used by an entity to pay taxes into the Illinois Department of Revenue Chicago Illinois. Just because your company is set up as a legal entity inside the State of Illinois, does not mean that you...