Chicago, IL asked in Tax Law for Illinois

Q: I have a question for a restaurant group re: gift card Sales. I was reading about this and I am so confused.

Last year we reported on the prior year. The person who used to do this left the company so we wanted to be sure we were entering the correct year.

I think we only report gift card sales for the year but only the cards that still have dollar amounts

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1 Lawyer Answer

A: Unless you CPA is unavailable, they should be able to handle this tiny problem. If you have no CPA, get one.

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