97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SB2833

 

Introduced 1/24/2012, by Sen. David S. Luechtefeld

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 5/909  from Ch. 120, par. 9-909

    Amends the Illinois Income Tax Act. Provides that the Department shall (instead of may) prescribe regulations providing for a taxpayer election on an original return or an amended return for the crediting against the estimated tax for any taxable year of the amount determined by the taxpayer or the Department to be an overpayment of the tax imposed by this Act for a preceding taxable year. Effective immediately.


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FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

SB2833LRB097 17233 HLH 62433 b

1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Income Tax Act is amended by
5changing 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
9Department, within the applicable period of limitations for a
10claim for refund, may credit the amount of such overpayment,
11including any interest allowed thereon, against any liability
12in respect of the tax imposed by this Act, regardless of
13whether other collection remedies are closed to the Department
14on the part of the person who made the overpayment and shall
15refund any balance to such person or credit any balance to that
16person pursuant to an election in subparagraph (b) of this
17Section.
18    (b) Credits against estimated tax. The Department shall may
19prescribe regulations providing for a taxpayer election on an
20original return or an amended return for the crediting against
21the estimated tax for any taxable year of the amount determined
22by the taxpayer or the Department to be an overpayment of the
23tax imposed by this Act for a preceding taxable year.

 

 

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1    (c) Interest on overpayment. Interest shall be allowed and
2paid at the rate and in the manner prescribed in Section 3-2 of
3the Uniform Penalty and Interest Act upon any overpayment in
4respect of the tax imposed by this Act. For purposes of this
5subsection, no amount of tax, for any taxable year, shall be
6treated as having been paid before the date on which the tax
7return for such year was due under Section 505, without regard
8to any extension of the time for filing such return.
9    (d) Refund claim. Every claim for refund shall be filed
10with the Department in writing in such form as the Department
11may by regulations prescribe, and shall state the specific
12grounds upon which it is founded.
13    (e) Notice of denial. As soon as practicable after a claim
14for refund is filed, the Department shall examine it and either
15issue a notice of refund, abatement or credit to the claimant
16or issue a notice of denial. If the Department has failed to
17approve or deny the claim before the expiration of 6 months
18from the date the claim was filed, the claimant may
19nevertheless thereafter file with the Department a written
20protest in such form as the Department may by regulation
21prescribe. If a protest is filed, the Department shall consider
22the claim and, if the taxpayer has so requested, shall grant
23the taxpayer or the taxpayer's authorized representative a
24hearing within 6 months after the date such request is filed.
25    (f) Effect of denial. A denial of a claim for refund
26becomes final 60 days after the date of issuance of the notice

 

 

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1of such denial except for such amounts denied as to which the
2claimant has filed a protest with the Department, as provided
3by Section 910.
4    (g) An overpayment of tax shown on the face of an unsigned
5return shall be considered forfeited to the State if after
6notice and demand for signature by the Department the taxpayer
7fails to provide a signature and 3 years have passed from the
8date the return was filed. An overpayment of tax refunded to a
9taxpayer whose return was filed electronically shall be
10considered an erroneous refund under Section 912 of this Act
11if, after proper notice and demand by the Department, the
12taxpayer fails to provide a required signature document. A
13notice and demand for signature in the case of a return
14reflecting an overpayment may be made by first class mail. This
15subsection (g) shall apply to all returns filed pursuant to
16this Act since 1969.
17    (h) This amendatory Act of 1983 applies to returns and
18claims for refunds filed with the Department on and after July
191, 1983.
20(Source: P.A. 97-507, eff. 8-23-11.)
 
21    Section 99. Effective date. This Act takes effect upon
22becoming law.