(Chicago Tribune) — Taxpayers who owe the state will be able to pay up without facing fines for five weeks this fall.
Gov. Pat Quinn quietly signed a measure into law today setting up a grace period that runs from Oct. 1 to Nov. 8. State officials estimate the amnesty could bring in about $250 million for Illinois’ depleted coffers.
The law covers unpaid back taxes from July 2002 to July 2009. If taxpayers fail to make good during the amnesty, interest and penalties will be doubled, according to a spokeswoman for the Illinois Department of Revenue.