Full Text of HB5564 98th General Assembly
HB5564enr 98TH GENERAL ASSEMBLY |
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| 1 | | AN ACT concerning revenue.
| 2 | | Be it enacted by the People of the State of Illinois,
| 3 | | represented in the General Assembly:
| 4 | | Section 5. The Illinois Income Tax Act is amended by | 5 | | changing Section 909 as follows:
| 6 | | (35 ILCS 5/909) (from Ch. 120, par. 9-909)
| 7 | | Sec. 909. Credits and Refunds.
| 8 | | (a) In general. In the case of any overpayment, the | 9 | | Department, within the applicable period of limitations for a | 10 | | claim for refund, may
credit the amount of such overpayment, | 11 | | including any interest allowed
thereon, against any liability | 12 | | in respect of the tax imposed by this Act,
regardless of | 13 | | whether other collection remedies are closed to the
Department | 14 | | on the part of the person who made the overpayment and shall
| 15 | | refund any balance to such person or credit any balance to that | 16 | | person pursuant to an election under subsection (b) of this | 17 | | Section .
| 18 | | (b) Credits against estimated tax. The Department shall may
| 19 | | prescribe regulations providing for a taxpayer election on an | 20 | | original return, an amended return, or otherwise for the | 21 | | crediting against the estimated tax
for any taxable year of the | 22 | | amount determined by the taxpayer or the
Department to be an | 23 | | overpayment of the tax imposed by this Act for a
preceding |
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| 1 | | taxable year.
| 2 | | (c) Interest on overpayment. Interest shall be allowed and | 3 | | paid at the
rate and in the manner prescribed in Section 3-2 of | 4 | | the Uniform Penalty and
Interest Act upon any overpayment in | 5 | | respect of the tax imposed by this
Act. For purposes of this | 6 | | subsection, no amount of tax, for any taxable
year, shall be | 7 | | treated as having been paid before the date on which the tax
| 8 | | return for such year was due under Section 505, without regard | 9 | | to any
extension of the time for filing such return.
| 10 | | (d) Refund claim. Every claim for refund shall be filed | 11 | | with the
Department in writing in such form as the Department | 12 | | may by regulations
prescribe, and shall state the specific | 13 | | grounds upon which it is founded.
| 14 | | (e) Notice of denial. As soon as practicable after a claim | 15 | | for refund
is filed, the Department shall examine it and either | 16 | | issue a notice of
refund, abatement or credit to the claimant | 17 | | or issue a notice of denial.
If the Department has failed to | 18 | | approve or deny the claim before the
expiration of 6 months | 19 | | from the date the claim was filed, the claimant may
| 20 | | nevertheless thereafter file with the Department a written | 21 | | protest in such
form as the Department may by regulation | 22 | | prescribe, provided that, on or after July 1, 2013, protests | 23 | | concerning matters that are subject to the jurisdiction of the | 24 | | Illinois Independent Tax Tribunal shall be filed with the | 25 | | Illinois Independent Tax Tribunal and not with the Department. | 26 | | If the protest is subject to the jurisdiction of the |
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| 1 | | Department,
the Department shall consider the claim and, if the | 2 | | taxpayer has so
requested, shall grant the taxpayer or the | 3 | | taxpayer's authorized
representative a hearing within 6 months | 4 | | after the date such request is filed.
| 5 | | On and after July 1, 2013, if the protest would otherwise | 6 | | be subject to the jurisdiction of the Illinois Independent Tax | 7 | | Tribunal, the claimant may elect to treat the Department's | 8 | | non-action as a denial of the claim by filing a petition to | 9 | | review the Department's administrative decision with the | 10 | | Illinois Independent Tax Tribunal, as provided by Section 910. | 11 | | (f) Effect of denial. A denial of a claim for refund | 12 | | becomes final 60
days after the date of issuance of the notice | 13 | | of such denial except for
such amounts denied as to which the | 14 | | claimant has filed a protest with the
Department or a petition | 15 | | with the Illinois Independent Tax Tribunal, as provided by | 16 | | Section 910.
| 17 | | (g) An overpayment of tax shown on the face of an unsigned | 18 | | return
shall be considered forfeited to the State if after | 19 | | notice and demand for
signature by the Department the taxpayer | 20 | | fails to provide a signature and 3
years have passed from the | 21 | | date the return was filed.
An overpayment of tax refunded to a | 22 | | taxpayer whose return was filed
electronically shall be | 23 | | considered an erroneous refund under Section 912 of
this Act | 24 | | if, after proper notice and demand by the
Department, the | 25 | | taxpayer fails to provide a required signature document.
A | 26 | | notice and demand for signature in the case of a return |
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| 1 | | reflecting an
overpayment may be made by first class mail. This | 2 | | subsection (g) shall apply
to all returns filed pursuant to | 3 | | this Act since 1969.
| 4 | | (h) This amendatory Act of 1983 applies to returns and | 5 | | claims for
refunds filed with the Department on and after July | 6 | | 1, 1983.
| 7 | | (Source: P.A. 97-507, eff. 8-23-11; 97-1129, eff. 8-28-12; | 8 | | 98-463, eff. 8-16-13.)
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