Accounting Articles > Illinois Sales and Use Tax Audit:

Chicago Sales Tax Audits

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 asking this question in the first place, then its time for a new accountant. Call our offices today. The Special Accounting Packages section of this website may have a special offer which will benefit you. If you would like a second opinion, we can do this for as little as $500, or we can represent you starting at $1,500. As highly recommended CPA's and Enrolled Agents providing financial accounting and taxation services in the Chicagoland Area, we have the experience necessary to help your company. Simply call or e-mail one of our specialists today.