Home Table of Contents

006.05.307-26-18-506. PRESERVATION OF RECORDS BY TAXPAYER

AR ADC 006.05.307-26-18-506Arkansas Administrative Code

West's Arkansas Administrative Code
Title 006. Department of Finance and Administration
Division 05. Division of Revenues
Rule 307. Comprehensive Individual Income Tax Regulations (Refs & Annos)
Ark. Admin. Code 006.05.307-26-18-506
006.05.307-26-18-506. PRESERVATION OF RECORDS BY TAXPAYER
Currentness
1.26-18-506(b) Type of Records and Time Period
The taxpayer is required to keep and maintain all records that are necessary to reconcile the amount of tax due or to prove the accuracy of any return. These records must be preserved for six (6) years after a return is filed and are subject to examination by the director at any reasonable time.
1.26-18-506(d) Insufficient Records and Estimated Assessment
If the taxpayer cannot produce sufficient records to reconcile the amount of tax due or to prove the accuracy of any return, the director may make an estimated assessment based upon information available to him. The burden of proof of refuting this assessment is upon the taxpayer.
Current with amendments received through February 15, 2024. Some sections may be more current, see credit for details.
Ark. Admin. Code 006.05.307-26-18-506, AR ADC 006.05.307-26-18-506
End of Document