Personal Assessment for Business Taxes

If you are in fact or are deemed to be a corporate officer, you may be held personally responsible for your business’ liability. Corporations behind on their taxes may also be denied corporate charter renewal.

Collection Agencies

The State may employ a collection agency to resolve cases of delinquency. Should such an agency contact you, verify their identity prior to divulging any personal information. The fees associated with the employment of a collection agency may be added to your total liability.

Enforced Collections

If you are behind on your taxes or tax returns, the State may take enforced actions to collect what is due. Such actions can include filing liens (public notices of liability), asset seizures, levies, wage garnishments, and more. The State may also prevent the issuance or renewal of business licenses.

Asset Seizure

The State may seek to resolve tax liability by means of seizing real or personal property. You will be notified of any impending seizures shortly prior to the act. Seized property is sold at auction shortly thereafter.

Bank Levies

One means of enforced action that the state of Illinois may take to resolve delinquency is the issuing of a levy on your bank accounts. The state will issue a warrant to your bank and take up to the amount stated on the warrant directly from your accounts if it is available. Typically there is a brief holding window during this process, during which you may seek professional assistance for preventing further collections or potentially regaining levied funds.

As the process requires significant preparation, it is recommended that you seek professional assistance before attempting to submit an Offer in Compromise.

Personal Assessment for Business Taxes

If you are in fact or are deemed to be a corporate officer, you may be held personally responsible for your business’ liability. Corporations behind on their taxes may also be denied corporate charter renewal.

Wage Garnishments

If the State issues a request for garnishment, your employer will be legally obligated to comply. A garnishment will divert a percentage of your gross wages until your liability is paid.

Power of Attorney

While you may represent yourself before the State, you may also choose to have a qualified representative do so in your stead. This requires that you complete the appropriate documentation prior to any discussion of tax matters.

Offer in Compromise

The state of Illinois may, in very particular cases, accept a settlement of a liability for less than the full amount. This is done through an Offer in Compromise. If you wish to request an OIC, you must be prepared to closely follow all terms and conditions given by the state. These can include your having filed all required tax returns, completed the application, and provided any requested supplementary documentation.