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Illinois Tax Amnesty Opportunity

Written by Todd

We know changes are coming to Illinois Tax but this opportunity is not to be missed if you are behind in filing or paying Illinois tax – Illinois Tax Amnesty Program. Illinois is waiving the penalties and interest for taxes that are paid late and will not pursue any civil or criminal prosecution related to those taxes.

Here are some details:

  • Must pay tax in full (and file if needed) between 10-1-2019 and 11-15-2019
  • Good for 2011 – 2017 tax years

There is also a similar program for unpaid business franchise tax.

If you think you could take advantage of this please give us a call and we can confirm you qualify and talk more on how to proceed.

News, Tax Updates

What is your time worth?

Written by Todd

At Fox Valley Tax Solutions we get it… Why pay someone to do your taxes when you can get some cheap software and DIY?

Problem is you don’t know what you don’t know. It is rare for us to review a prior year self prepared return and not find an error. We cannot guarantee an increase in your refund but we can give you the piece of mind that your return will be done right – saving you time in both preparation and responding to IRS notices.

We’ll even throw in some expert tax planning advice for good measure.

News

Who can be a dependent?

Written by Todd

Dependent? It Depends…

It is pretty well known that parents can take their children as dependents while they are in college. What about after college if they take a while to get started? What about parents that you support? Here is a good article on point:  Who can be a dependent?  As always, give us a call if you need more on this.

 

News, Tax Updates