Resources

Frequently Asked Questions

How long should I keep tax records?


Here are the IRS rules regarding record-keeping:

  1. You owe additional tax and situations (2), (3), and/or (4) apply, see below. If none of these apply to you; keep records for 3 years.
  2. You do not report income that you should report, and it is more than 25% of the gross income shown on your return; keep records for 6 years.
  3. You file a fraudulent return; keep records indefinitely.
  4. You do not file a return; keep records indefinitely.
  5. You file a claim for credit or refund after you file your return; keep records for 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later.
  6. You file a claim for a loss from worthless securities or bad debt deduction; keep records for 7 years.
  7. Keep all employment tax records for at least 4 years after the date that the tax becomes due or is paid, whichever is later.


Resources


Bellow are a few tax related websites that we thought you may find useful.

Internal Revenue Service (IRS)

www.irs.gov

Illinois Department of Revenue

www.revenue.state.il.us

Illinois Secretary of State

www.cyberdriveillinois.com

Illinois Department of Employment Security (Unemployment-IDES)

www.ides.illinois.gov

IL Online Payment System (Taxnet)

www.taxnet.ides.state.il.us/login

IRS-Electronic Tax Payment System (EFTPS)

www.eftps.gov