What types of audits does the Illinois Department of Revenue conduct?
The two main types of Illinois tax audits conducted by the IDR are:
Income Tax Audit Sales and Excise Tax Audit
How does the Illinois Department of Revenue pick audit subjects?
- Random Selection
- Referral / Anonymous Tip
- Business Category
- Past Audit History
- Specific Tax Issue
What records will you need to hand over to the Illinois Department of Revenue for an Illinois tax audit?
The purpose of an audit is to determine if the subject paid the right amount of tax. As such, auditors want and need documentation that supports line item deductions and credits on your return. This often means providing bank statements, general ledgers, financial statements, receipts and other records. If you don’t have them or your records are incomplete it may be time to call an attorney for help.
How long does the average Illinois tax audit take?
Again, it depends. The IDR says that it can take between a day and several months to complete an audit. Many factors affect audit lengths, including type, size, category, level of cooperation, and record availability. We do everything we can to try to bring the audit to close as soon as possible.
Where do Illinois tax audits normally take place?
The actual work of the audit can be done in one of three places:
- Your home or place of business
- The office of a “designated representative” (i.e., your lawyer’s office)
- A revenue office
What our Illinois tax audit legal team can do for you
- Appear at the tax audit in your place.
- Communicate with authorities on your behalf.
- Defend your interests in shareholder derivative suits.
- Research and argue against a disgruntled ex-spouse or former business partner who gives information to the IRS.
- Navigate the tricky issues that arise from deducting tax shelter investment losses on your return.
- Insulate you from IRS overreach.