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 27, 2015 | Federal Income Tax, Non-Filers
The primary reasons why successful and seasoned business owners have unfiled income tax returns is that their accountant died, retired, or just got too old to be able to handle the job competently. It is difficult to change tax practitioners once you have an...
May 26, 2015 | Federal Income Tax, IRS Audit
Can the IRS audit you two times in two years Chicago Illinois Certainly. There is no restriction in between years. If an IRS Audit has been finished and closed out on one year, they cannot audit the same year twice under the rules of double jeopardy. But they...
May 21, 2015 | Illinois Unemployment, Payroll Tax Problems
Updated July 1, 2015 Unemployment IDES Tax Audit Chicago Illinois is on the rise. So you just received a notice from the Illinois Department of Employment Security that you are going to be audited. What do you do now? Whenever you go into an audit, it is...
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...