Illionis Offers Tax Amnesty

By August 20, 2010 Amnesty Programs

The Illinois Department of Revenue announced this week that is was offering a tax amnesty from October 1 to November 30 2010 for taxpayers who owe tax from June 30, 2002 to July 1, 2009.  This is the second amnesty program Illinois has had this decade.  Its last one was in 2003.

Under the program, taxpayers will get abatement of penalty and interest.  If the amnesty eligible liabilities are not paid during the amnesty period, a penalty at 200% of the normal penalty could be imposed.  Taxpayers who forgo amnesty will pay a hefty price if they are audited and the liability is determined.  If your company files in Illinois or believes it should be filing in Illinois, this amnesty program may be a very worthwhile effort for you to participate in.

Also, Kansas will have an amnesty program from September 1 until October 15 and Maine will have an amnesty program from September 1 until November 30

Ned Lenhart
Illinois Amnesty Program