Illinois tax amnesty collects more than $237M in back taxes


America’s debt load is about to hit a record. The combination of cheap money and soaring debt helped fuel the decade-long economic expansion and bull market, but America’s gluttony of loans could work against it if its fragile economic balance shifts.

SPRINGFIELD, Ill. (AP) – The Illinois Department of Revenue says it collected more than $237 million in back taxes during a six-week tax amnesty period last fall.

That revenue from more than 63,000 delinquent taxpayers exceeded the $175 million that Gov. J.B. Pritzker’s administration was expected to help fund the state’s $40 billion budget. Revenue department officials say the final tally could be higher because they’re still reviewing some payments.

The amnesty period ran from Oct. 1 to Nov. 15 and allowed qualified taxpayers to avoid paying penalties and interest by paying off outstanding state tax liability incurred between June 30, 2011, and July 1, 2018.


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