(35 ILCS 615/7)
(from Ch. 120, par. 467.22)
Every taxpayer under this Act shall keep books, records, papers
and other documents which are adequate to reflect the information which
such taxpayers are required by Section 3 of this Act to report to the
Department by filing monthly returns with the Department.
The Department may adopt rules that establish requirements, including record
forms and formats, for records required to be kept and maintained by taxpayers.
For purposes of this Section, "records" means all data maintained by the
taxpayer, including data on paper, microfilm, microfiche or any type of
machine-sensible data compilation. All books and
records and other papers and documents required by this Act to be kept
shall be kept in the American language and shall, at all times during
business hours of the day, be subject to inspection by the Department or
its duly authorized agents and employees. Books and records reflecting
gross receipts received during any period with respect to which the
Department is authorized to establish liability as provided in Sections 4
and 5 of this Act shall be preserved until the expiration of such period
unless the Department, in writing, authorized their destruction or disposal
at an earlier date.
The Department may, upon written authorization of the Director, destroy
any returns or any records, papers or memoranda pertaining to such returns
upon the expiration of any period covered by such returns with respect to
which the Department is authorized to establish liability.
(Source: P.A. 88-480.)