Chicago Provides Debt Relief Program for Unpaid Taxes

The City of Chicago is offering a debt relief program from November 15, 2015 through December 31, 2015 that will provide individuals and businesses the opportunity to resolve outstanding debt and avoid further costs and collection activity. Included in the eligible debt are unpaid tax liabilities (for both non-filers and tax assessments) incurred prior to January 1, 2012. Tax obligations that are in a payment plan or pending legal activity with the City are not eligible for the program. Penalties, interest, and collection costs associated with the eligible debt will be waived during the debt relief program. To participate in the program, taxpayers must complete a Tax Debt Relief application to register with the city and will need to file applicable tax returns. For information and application to the Debt Relief Program click here. Note that this debt relief program is separate and apart from the special voluntary disclosure program offered through December 31, 2015 related to cloud transactions. For more information on this program visit Chicago Enacts Amendments to Chicago Cloud Tax Ruling. (Most Recent News (Finance), Debt Relief Program, City of Chicago, November 3, 2015)

Posted on November 23, 2015