A business manager called in a bit of a panic. It seems that their bookkeeper had quit four months before and they received a notice that they are now being audited by the Illinois Department or Revenue for their Sales Taxes for 2017 to 2019.
I went to meet with the manager and got their ST-1 and quarterly filings up to date. We filled out the power of attorney. I prepared for filing all of the late corporate tax returns. I then prepared the details of all of the reports that the auditor needed.
We scheduled phase one of the audit in my office. They went over all of the records that I provided, previously and those that they requested that day. They were in my office the full eight hours.
The auditor left a list of over 200 invoiced projects and 200 payments that they want to review in Phase 2 of the audit.
The client has to locate all of these documents within two weeks.
How good are your records if you needed to do the same?