Illinois: Details Released on Upcoming Tax Amnesty Program

The Illinois Department of Revenue has announced that an upcoming tax amnesty program will be held from October 1, 2019 through November 15, 2019. Recall, Senate Bill 689 authorized the Department of Revenue to establish a tax amnesty program for taxpayers owing any tax imposed by the state for tax periods after June 30, 2011 and prior to July 1, 2018. Taxpayers that pay all outstanding tax liabilities will be relieved of interest and penalties. Taxpayers are ineligible for amnesty if they are a party to any criminal or civil litigation or investigation for nonpayment, delinquency, or fraud in connection with any Illinois tax. Further, participation in the amnesty program does not preclude a taxpayer from claiming a refund for an overpayment of tax on an unrelated issue for which the taxpayer did not claim amnesty, or for an overpayment of tax by taxpayers estimating a non-final liability for the amnesty program. In addition to the general tax amnesty program, a franchise tax and license fee amnesty will also be held during the same time period. This program will apply to any franchise tax or license fee liabilities for any tax period ending after March 15, 2008 and on or before June 30, 2019. Please stay tuned to TWIST for future details on the amnesty program.