(50 ILCS 45/50)
Late filing penalties.
penalties may not exceed 5% of the amount of tax required to
be shown as due on a return. A late
filing penalty may not apply if a failure to file penalty is
imposed by the unit of local government. A local tax
administrator may determine that the late filing was due to
reasonable cause and abate the penalty.
(Source: P.A. 91-920, eff. 1-1-01.)