Tax Amnesty in Illinois Signed into Law

The state of Illinois will be offering a tax amnesty program through November 8, 2010. This particular program (IL Senate Bill 377) had been languishing on the Governor's for two months until it was finally signed into law on August 16th. Tax debts arising from the period of June 30, 2002 to July 1, 2009, are eligible for penalty and interest waivers if paid in full before November 8th. The law also doubles penalties and interest for taxpayers who don't participate in this amnesty.