On Monday, August 16th, Governor Quinn approved the bill to establish a tax amnesty program for all taxpayers for taxes due for any taxable period ending after June 30, 2002 and prior to July 1, 2009. The amnesty period will run from October 1, 2010 through November 8, 2010.
The amnesty program will afford taxpayers a small window of opportunity to seek abatement of penalties and interest on unpaid taxes incurred during the periods stated above.
For further details, see my previous blog post.
If you need assistance in taking advantage of this program, please contact our office.
Steve Trojan, CPA is owner of SMT & Associates, Inc. (www.smt-associates.com), a Crystal Lake IL based tax and accounting firm, and Complete Payroll Inc, (www.completepayrollinc.com) a payroll processing firm. He specializes in tax and accounting issues affecting small business owners.
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