SB2140 amends the Illinois Income Tax Act to extend the time for filing a claim for refund after an audit.
SB2140 amends the Illinois Income Tax Act to allow taxpayers to apply for an extension of the time for filing a claim for refund if the initial period has expired. The extension can be granted up to three years after the conclusion of the Department's audit. The Director of Revenue must notify the claimant in writing of the approval or rejection of the extension request. This provision applies to taxpayers who are entitled to a refund as a result of an audit by the Department of Revenue.
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