Have you heard about the Illinois tax amnesty program? If you haven’t paid Illinois State taxes over the past several years, take two minutes to read this post. It could save you thousands, if not millions, of dollars — and shield you from civil or criminal charges.
Illinois Instituted a Tax Amnesty Program: July 1, 2011 – June 30, 2018
It happens. People fall behind on their taxes. And thankfully, the Illinois Department of Revenue is giving people a chance to make amends.
Illinois Tax Amnesty Program: A Chance to Pay Back Taxes Without Penalty
Between October 1, 2019 and November 15, 2019, individuals and businesses that owe back Illinois State taxes accrued between July 1, 2011 and June 30, 2018, can submit full back payments without fear of interest, penalties, or prosecution. Parties already party to a tax-related criminal or civil investigations or pending litigation, however, are not eligible.
Illinois Tax Amnesty Program: You Can Still File For A Refund Down the Road
In addition to waiving penalties, interest, and potential prosecution, lawmakers have also stipulated that participating in the program does not preclude taxpayers from filing for an overpayment refund in the future.
The treasury is accepting payments by cash, check, guaranteed remittance, or ACH Debit. Funds collected will be distributed amongst the Common School Fund, General Revenue Fund, and the Tax and Compliance and Administration Fund.
If you owe back Illinois State taxes or didn’t file for the years stipulated, the time is now to act! Our team of experienced Illinois tax lawyers will handle everything from filling out the correct paperwork to making sure you pay the least amount possible. Individuals and clients who work with tax attorneys typically save more money than they would have going it alone.
Collectively, we’ve saved thousands of clients, millions of dollars. Whether you’re a working-class family or a Fortune 1000 CEO, our tax law team has developed strategies that will help you save money!
Let’s talk. The consultation is on us.
And remember, you only have a short window to act on the Illinois tax amnesty program. Let’s get started on an action plan today!