Illinois taxpayers must file even when no tax is due
- Nov 15, 2016 | Gail Cole
The Illinois Department of Revenue is required by law to penalize certain dealers who fail to report nontaxable Illinois sales to the department.
Under the Uniform Penalty and Interest Act, a $100 penalty applies for failure to file a transaction reporting return on or before the due date when there is no tax due. The penalty is effective as of August 10, 2015. However, for taxpayers with reports due between August 10, 2015 and November 10, 2016, the penalty will be waived if the required returns are filed by January 31, 2017.
In addition, the department allows an automatic abatement of the penalty for failure to file a reporting return for nontaxable transactions delivered between August 16, 2013 and August 9, 2015, because returns were not required for nontaxable sales during that time. Additional information.
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