Illinois Sales Tax Audits

Illinois Sales Tax Audits

Tax Levy & Release Tax Lien A sales tax audit is used to promote compliance with tax laws, and as a means of increasing State revenue. As part of the ordinary course of business, most companies eventually will undergo a sales and use tax audit. Most auditors are professional and even friendly but please don’t mistake that professionalism for being your friend. While few auditors will admit it, their primary goal is to issue a substantial sales and use tax assessment.Sales tax auditors frequently think that businesses cheat or at least intentionally try to skirt the sales tax law.

They begin most audits with the attitude of trying to determine how much the business owes, not whether or not the business owes anything. Should the auditor find a transaction that the Company erroneously paid tax on, it is doubtful they will let you know about the over payment.It is our mission to see that your business is treated fairly on a sales and use tax audit. We help insure that gray areas in the sales tax law are interpreted in your favor. We also defend you against the sales tax auditor making unfair assumptions or erroneous projections about your business’s revenue. While it is wrong to intentionally underpay one’s taxes, it is also wrong for the government to excessively tax a business simply as a matter of convenience or to balance a budget.

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Latest Sales Tax News

November 12, 2019 in Illinois Sales Tax, Uncategorized

Texas sales tax on lease

Texas sales tax on lease If you lease equipment for the purpose of renting it someone else, you may need to charge a sales and use tax in Texas. However, if you are renting the equipment to someone, but you will operate the equipment, you do not need to pay…
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August 24, 2016 in Illinois Sales Tax, Uncategorized

Illinois Sales Tax on Software and Maintenance Agreements

Illinois Sales Tax on Software and Maintenance Agreements Software and Maintenance Agreements Sales of "canned" computer software are taxable as retail sales in Illinois. Sales of custom software, which is prepared to the special order of the customer, are not taxable. Computer software that is not custom software is considered…
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August 24, 2016 in Illinois Sales Tax, Uncategorized

Illinois sales tax on hygiene products

Illinois sales tax on hygiene products Illinois joined a handful of states and the city of Chicago in repealing a so-called "tampon tax" as Gov. Bruce Rauner approved a bill that exempts feminine hygiene products from the state sales tax. Currently, tampons and sanitary napkins are taxed by the state…
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August 11, 2016 in Illinois Sales Tax, Uncategorized

Illinois Sales Tax Bonds

Illinois Sales Tax Bonds Illinois will return to the market with $573 million of new money and refunding bonds under a higher-rated sales tax-backed credit. Fitch Ratings said the state will take competitive bids Aug. 24 on a $150 million junior obligation tax-exempt series and a $60 million junior taxable…
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