Monday, August 16, 2010

Quinn approves tax amnesty

By Jamey Dunn

Gov. Pat Quinn signed Senate Bill 377, which creates a so-called tax amnesty period (at the bottom of the linked post) from October 1 to November 8. Anyone owing the state back taxes from 2002 to 2009 can pay them during that period without penalties or interest.

Quinn came around to the plan after voicing some reservations during the early days of spring legislative session.

State agencies would also be allowed to enter into deferred payment agreements to settle debts at no less than 80 percent of the amount due and use private debt collection agencies to obtain owed money. The plan could bring in an estimated $250 million.

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