My colleague Jean Bittner-Brandt had this to say recently, and it’s making me wish I’d been able to attend the meeting with her!

Was at an IAAI meeting last week and the speaker spoke about the latest tax act for Illinois. As part of the act, the state is going to implement a tax amnesty program for debts from 07/01/2012 to 06/30/2018. The tax amnesty period will be from October 1, 2019 to November 15, 2019.

She cited this article as a summary: New Tax Laws in Illinois: Consequences for Businesses and Individuals | Insights | Sidley Austin LLP

I’ve written my state representative to ask for clarity on the proposed tax brackets, which don’t seem right to me — instead of doubling the income brackets for MFJ like in the federal tax code, they are the same as for Single folks up until $750,000. Hoping this is a typo.

In any case, big changes coming to Illinois taxation!