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More deadbeats pay up during Illinois' tax amnesty than expected
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| Contributor | ArmyDem |
| Last Edited | ArmyDem Dec 08, 2010 08:12am |
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| Category | News |
| Media | Newspaper - Chicago Tribune |
| News Date | Monday, December 6, 2010 02:00:00 PM UTC0:0 |
| Description | State gets about $82 million more than it expected from tax amnesty program
By Ray Long, Tribune reporter
5:05 p.m. CST, December 6, 2010
SPRINGFIELD —
— Illinois got a holiday boost when its tax amnesty program brought in more money than anticipated, one of the few bright lights in a grim financial year for state government.
The amnesty program brought in $547 million, with the state's cut amounting to about $331.9 million. That's about $82 million higher than the $250 million the Quinn administration estimated the state would reap from the amnesty, which allowed tax deadbeats to pay without penalties from Oct. 1 through Nov. 8.
The state's take is more than three times as much as the estimate from the legislative financial arm. The Commission on Forecasting and Accountability had calculated the amnesty program would bring only about $100 million to the state.
The program is a success because one of the main goals was to bring in money during this budget year, said Dan Long, the commission's executive director. The agency had calculated a smaller number partly because the state last offered an amnesty program only six years ago, Long said.
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