Sales tax is a state and local tax that is charged by businesses that sell goods at retail. The taxing authorities require the retailer to charge and collect sales tax on the goods that they sell. The retailer is then required to file sales tax returns and to pay over the money it has collected as a result of its sales. Many new businesses fail to properly collect and pay over sales tax or do not file the proper tax returns. Failing businesses often use the sales tax they collect to keep the doors open. Not paying your sales tax liability is a grave mistake. The Illinois Department of Revenue can come after the owners, officers, shareholders or other responsible individuals and assert the 100% Penalty against those individuals, thereby holding them personally liable for the unpaid sales tax liability. You can also be criminally prosecuted for failing to file sales tax returns or failing to pay the sales tax to the IDR.
If you have unfiled sales tax returns or unpaid sales tax liability, call us, we can help. Call Us Before the IRS Calls You!®