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* Press release…
Illinois taxpayers who incurred tax liabilities between July 1, 2011 and June 30, 2018 may be eligible for the one-time tax amnesty program. Beginning October 1, 2019, eligible taxpayers who pay their eligible tax liabilities in full will have associated penalties and interest waived. Taxpayers have until November 15, 2019 to make a full payment on their liabilities and file the required paperwork with the Illinois Department of Revenue (IDOR).
“Now is an excellent opportunity for taxpayers with tax liabilities to pay what they owe and come into compliance with the law,” said David Harris, Illinois Department of Revenue Acting Director. “By taking advantage of this amnesty program, taxpayers can eliminate any eligible tax debts owed, without penalty or interest. This allows them to have a clean tax slate with the State of Illinois. The Department of Revenue is committed to achieving a tax system where everyone pays their fair share and citizens can trust they are treated equitably. This one-time amnesty program helps us achieve that goal.”
During budget negotiations this year, Governor Pritzker proposed a tax amnesty program for taxpayers who have state tax liabilities, and the General Assembly agreed to include the program as part of this year’s fiscal budget. The Governor’s Office of Management and Budget estimates the tax amnesty program will recover $175 million in outstanding tax liabilities.
To participate in Illinois’ Tax Amnesty Program, taxpayers must pay all outstanding tax on an amnesty qualifying period in order to have eligible penalties and interest waived. Taxpayers who failed to file during the original filing period will need to file an original return in addition to making full payment of tax due. For taxpayers who want to report changes to previously filed returns, an amended tax return and full payment of tax due are required. The tax amnesty program includes most types of tax liabilities and penalties, but excludes taxes not collected by IDOR, such as property or local government taxes, and some fees, such as bad check fees and outside collection agency fees.
* Tribune…
A similar tax amnesty program in 2010 brought in nearly $332 million for the state, exceeding the $250 million then-Gov. Pat Quinn’s administration anticipated.
The Revenue Department is mailing notifications to eligible taxpayers. More information on the amnesty program is available at tax.illinois.gov.
posted by Rich Miller
Tuesday, Sep 17, 19 @ 11:46 am
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Seems a couple of high profile guys could kick this off in style.
Comment by A guy Tuesday, Sep 17, 19 @ 11:59 am
==2010 brought in nearly $332 million for the state==
Good gosh. Yes please.
Comment by lakeside Tuesday, Sep 17, 19 @ 12:15 pm
David Harris hasn’t been confirmed? Huh.
Comment by DIstant watcher Tuesday, Sep 17, 19 @ 12:17 pm
Amnesties are becoming common enough to justify not paying your taxes and then settle up later.. a no interest state loan in effect.
Comment by Anotheretiree Tuesday, Sep 17, 19 @ 12:28 pm
===on an amnesty qualifying period===
This is the key part, folks. Even if you’ve got dozens of periods, paying off the tax for just one of those periods will save you the penalty and interest on that period.
So, even if you can’t pay the whole thing off you can still take advantage by paying off part of it.
Since IDOR only assesses a 3% simple interest rate, we might be one of the few states where our late payment interest and our bond rates are higher than what we earn from taxpayers taking their sweet time to pay in full.
I hope they handle the press from this right by sending Acting Director Harris to every corner of the state to do media events with every legislator that will have him.
Comment by Candy Dogood Tuesday, Sep 17, 19 @ 1:31 pm
==a no interest state loan in effect.== You know that the Department of Revenue has auditors, right?
Comment by SAP Tuesday, Sep 17, 19 @ 4:36 pm
===This one-time amnesty program helps us achieve that goal.”===
This one time amnesty program that we have every 9 yrs.
Comment by Justacitizen Tuesday, Sep 17, 19 @ 8:00 pm