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 Tax amnesty program for suckers - Don't buy into it, serfs

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Tax amnesty program for suckers - Don't buy into it, serfs Vide
PostSubject: Tax amnesty program for suckers - Don't buy into it, serfs    Tax amnesty program for suckers - Don't buy into it, serfs Icon_minitimeTue Aug 17, 2010 5:39 am
If you owe taxes to the state, you’re about to get a break.

Gov. Pat Quinn signed a bill Monday that will allow people who have unpaid taxes that were due between July 2002 and July 2009 to pay them without interest. Senate Bill 377 allows tax scofflaws to start paying on Oct. 1. They have until Nov. 8 to make good on what they owe.

The tax amnesty previously has been estimated to generate $100 million to $250 million in revenue, but Sue Hofer, a spokeswoman for the Department of Revenue, said the agency is not sure how much money will be brought in by the one-time revenue source. The amnesty applies to all types of taxes.

The agency is figuring out procedures for those who want to take part. The details will be posted later at http://tax.Illinois.gov. The agency will be writing taxpayers who owe large amounts of money to the state to inform them of the program, Hofer said.

Quinn, a Democrat, did not think much of the idea when it was first proposed.

“We’ll look at anyone’s proposal, but I wouldn’t hold my breath,” Quinn said in April. “We already had one in 2003. You can’t have amnesties all of the time. After a while, people start to think just wait for the next amnesty.”

In a statement on Monday, Quinn’s office said he “supports measures that will bring additional revenues to our state. He does not support the frequent use of tax amnesty programs, but feels during these unprecedented fiscal times, that all strategies which could bring additional revenue into the state need to be considered.”

One of Quinn’s opponents in November’s election, state Sen. Bill Brady, R-Bloomington, was the only senator to vote against tax amnesty when the Illinois Senate passed it in May.

“It’s tax breaks for tax cheats, and Illinois just had a tax amnesty program,” Brady spokeswoman Patty Schuh said. “It’s always a concern when the Blagojevich-Quinn administration continues their pattern of spending money we don’t have and using one-time revenues. That’s what got us into this hole in the first place.”

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