A PROMINENT state is offering a “unique” program to settle outstanding tax liabilities with no penalties.
It began on October 1 and will continue through November 17.
Officials encourage those eligible to take advantage of the program (stock image)[/caption]
Governor JB Pritzker of Illinois (pictured) has championed it this year[/caption]
Known as the Illinois Tax Delinquency Amnesty Act, the program allows taxpayers to pay eligible past-due tax liabilities without any penalties or interest on payments made in full during the amnesty period.
The eligible liabilities include taxes due after June 30, 2018 and before July 1, 2024.
Taxpayers who failed to file a tax return or incorrectly reported the liability due on a previous return during these tax periods are able to file returns, make corrections and pay the taxes.
Those eligible must file an original return for non-filed periods or file an amended return in order to make the corrections.
‘GREATER FINANCIAL STABILITY’
The Illinois Department of Revenue (IDOR) said it’s encouraging those eligible to take advantage of the new program.
“This initiative demonstrates Governor Pritzker’s ongoing commitment to supporting taxpayers, particularly those facing financial hardships or economic uncertainties,” IDOR Director David Harris said in a press release.
“We encourage both individuals and business owners to use the amnesty period to resolve outstanding tax liabilities and achieve greater financial stability.”
Harris said the department advises taxpayers to make separate payments for each tax liability.
“But if they choose to make one combined payment, they must clearly identify each tax liability being paid by tax type, tax period, and amount, so their payments can be applied correctly,” he noted.
Officials added that if you only owe penalty and interest, you do not qualify for this amnesty program.
There are further exclusions like taxes not collected by IDOR, such as property, estate, and local taxes.
Those who have a civil or criminal case pending or are a party to a criminal investigation are ineligible to participate in the program.
HOW TO PAY
There are several ways to make the payments.
For individual taxpayers, they can schedule a payment using their checking or savings account at MyTax Illinois.
Ways to Pay
For individual taxpayers:
- Online with checking or savings account
- Credit card
- Check or money order
- In person
For business taxpayers:
- Online with MyTax Illinois account
- Check or money order
- In person
A complete list of IDOR locations can be found here.
Individuals can also pay using their VISA, MasterCard, Discover or American Express credit cards online or by phone.
However, those paying with credit cards will be subject to a convenience fee.
Payments can also be made via check or money order or in person at any IDOR office locations.
Cash is only accepted at the locations in Springfield and Chicago.
BUSINESS TAXPAYERS
For business taxpayers, there are three payment options.
First, they can use their MyTax Illinois account to direct the payment toward the eligible liability.
They can also issue a check or money order to the IDOR.
Business taxpayers can similarly pay in person at any IDOR office locations as the third option.
The same restrictions apply that cash is only accepted at the Springfield and Chicago offices.
The department also advised not to mail cash for risk of it getting lost or stolen.
Want to know more on tax relief? The U.S. Sun recently revealed the truth behind the rumors of $1,390 IRS payments in October.
The IRS also recently dropped a sneak peek at the 2025 claim form for no tax on tips, overtime and car loan interest.
