Illinois is rolling out what could become a defining state tax relief measure: a tax amnesty program allowing eligible taxpayers to resolve certain past-due tax liabilities without incurring penalties or interest. The window is limited, the benefits substantial, and the stakes high, especially for accountants, tax attorneys, and businesses with exposures in the state.
Illinois’s no-penalty tax amnesty could become a model for other states seeking to boost compliance without punishing taxpayers. But it is also a now-or-never window. If you or your clients have Illinois exposure, the time to act is limited.
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