For the first time since 2010, the state of Illinois has signed into law revisions to the Illinois Tax Delinquency Amnesty Act. From October 1, 2019, through November 15, 2019, taxpayers–individuals and businesses–will have the opportunity to settle Illinois tax debts while avoiding interest and penalties on those tax debts. Outstanding debts that are eligible for amnesty include debts for the period from June 30, 2011, through July 1, 2018.
What is Eligible for Illinois Tax Amnesty?
Eligible tax liabilities include both known and previously unknown liabilities that were not reported or paid for any tax period during the amnesty period. The eligible amnesty period is June 30, 2011, through July 1, 2018. Tax liabilities owed to the state must be paid in full during the amnesty period to be eligible. However, it is important to note that those already involved in a criminal investigation or litigation relating to state taxation are not eligible to participate in the amnesty program.
Opportunities to avoid interest and penalties on tax debts are extremely rare. As such, a review of Illinois taxes during the period of June 30, 2011, through July 30, 2018, is highly recommended. Above all, taxpayers have from October 1, 2019, through November 15, 2019, to settle Illinois tax debts.
How DHJJ Can Help
If you would like more information about reviewing your Illinois taxes to see if you qualify for the tax amnesty, please contact DHJJ’s State and Local Tax (SALT) team by filling out the form below. In addition, you can call our office at 630-420-1360 to speak with a member of our SALT team. Click here for more information on our SALT team services.