Lake County Gazette

The Illinois Department of Revenue has announced that tax relief will be provided to individuals and businesses impacted by the recent attacks in Israel and the subsequent Israeli-Palestinian conflict. The relief measures aim to assist taxpayers who may face difficulties in filing their returns or making timely tax payments due to the ongoing situation.

According to the Illinois Department of Revenue (IDOR), affected taxpayers can request the waiver of penalties and interest by submitting a written explanation to the IDOR. This relief applies to income, withholding, sales, specialty, and excise taxes, and the deadline for filing and payment has been extended to October 7, 2024. The relief covers returns and payments due between October 7, 2023, and October 7, 2024.

Those eligible for tax relief include individuals whose principal residence is in Israel, the West Bank, or Gaza, as well as business entities, sole proprietors, estates, trusts, or individuals whose books, records, or tax preparer are located in the covered area. Additionally, individuals who have been killed, injured, or taken hostage due to the conflict, as well as those affiliated with recognized government or philanthropic organizations assisting in the covered area, may also qualify for relief.

Taxpayers seeking to request waivers of penalties and interest should provide a brief written explanation to the IDOR, including their full name, account number (with only the last four digits if using a Social Security number), mailing address, and an estimate of when they anticipate being able to file or pay their taxes.

Requests for relief can be submitted electronically to REV.DisasterRelief@illinois.gov or via postal mail using the address provided on the return. Taxpayers sending their requests by mail should prominently write "Israeli-Palestinian Conflict 2023" in red on the top of the return and include their explanation for the penalties and interest abatement request.

The tax relief measures introduced by the Illinois Department of Revenue aim to alleviate the burden faced by individuals and businesses affected by the Middle East conflict. By providing waivers of penalties and interest, the IDOR recognizes the challenges faced by taxpayers in the covered area and seeks to support their ability to fulfill their tax obligations during this difficult time.

As the conflict continues, it is essential for affected taxpayers to take advantage of the available relief options and reach out to the IDOR to request the necessary assistance. By doing so, individuals and businesses can navigate the financial impact of the conflict and ensure compliance with their tax responsibilities.

Click this link to access more information: https://repweber.com/2023/10/18/tax-relief-for-individuals-and-businesses-affected-by-the-conflict-in-the-middle-east/