Illinois PROPOSES Tax Amnesty!
The Illinois General Assembly has introduced a bill (HB 4622) that would amend the Tax Delinquency Amnesty Act and create a Tax Amnesty period from January 1, 2010 through February 15, 2010.
The bill, as it currently stands, provides that interest and penalties for taxes due after June 30, 2002 and prior to January 1, 2010 shall be abated and not collected if those taxes are paid during the amnesty period.
For more information see HB 4622.
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Brian Strahle is the owner of LEVERAGE SALT, LLC where he provides state and local tax technical services to accounting firms, law firms and tax research organizations across the United States. He also writes a weekly column in Tax Analysts State Tax Notes entitled, "The SALT Effect." For more info, visit his website: www.leveragestateandlocaltax.com
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Because state and local taxes are deceptively simple and endlessly complicated.