Illinois Business Tax Amnesty Enacted

Illinois has enacted additional legislation that requires the Department of Revenue to establish a use tax amnesty program that will apply to all taxpayers including businesses. The Department will offer taxpayers an amnesty period that will run from October 1, 2010, through November 8, 2010. Interest and penalties will be waived for taxpayers who pay all tax liabilities due for any taxable period ending after June 30, 2002, and prior to July 1, 2009. The Department will not seek civil or criminal prosecution for any taxpayer who is granted amnesty during the eligible tax period. Taxpayers with eligible liabilities who do not participate in the amnesty program will be charged double the amount of interest or penalties that would otherwise apply. (P.A. 96-1435 (S.B. 377), Laws 2010, effective August 16, 2010). (8/10)

Posted on August 23, 2010