Archive for Tax Audit
State Cracks Down on Gas Station Sales Tax Evasion
Within the last 18 months the Illinois grand juries have indicted 14 gas station operators, charging they withheld a portion of the sales tax they owed to the state. Attorney General Lisa Madigan has said more than one-fourth of Illinois gas station operators have underreported their fuel taxes. Along with the Illinois Department of Revenue, [...]
Attorney Audits
New guidelines for audits of attorneys have just been released by the IRS. It focuses on several potential problem areas unique to attorneys and specifies how audits should be conducted in the context of those. Many of the particulars of attorney audits revolve around how attorneys are paid (noncash payments like stock or legal services [...]
New 1099 laws may never see the light of day
Section 9006 of the Affordable Care and Patient Protection Act instituted new reporting requirements for Form 1099, to go into effect after this year. They require Form 1099 be filed for all payments of $600 or more made to corporations. This aspect of the ACPPA has received heavy criticism since the act was first passed. [...]
Sales Tax
As one might expect, the state tends to take tax evasion pretty seriously. In August six gas station owners were indicted of sales tax evasion by the Attorney General of Illinois. This was part of a long ongoing probe of gas stations and tax compliance in Illinois which has already recovered $13 million from 66 [...]
Sales Tax Audits
In August the Illinois Attorney General’s Office announced six indictments related to unpaid sales taxes. The individuals indicted were all gas station owners. This was the latest series of indictments to come out of an investigation that has been underway since 2008. Since then IDOR reports it has colleted nearly $13 million in unpaid taxes [...]