Illinois Revenue Department offers penalty relief for late PTE tax payments

David Harris Director the Illinois Department of Revenue | Official Website

By Prairie State Wire

Aug 14, 2023

The Illinois Department of Revenue (IDOR) has announced it will abate penalties for late estimated payments that were due on December 15, 2022. This decision affects partnerships and S corporations that elected to pay the pass-through entity (PTE) tax and were required to make estimated payments.

According to IDOR, the abatement is applicable if the fourth quarter estimated payments were made in full by January 17, 2023. However, penalties will still apply to any unpaid balances from January 18, 2023, onwards.

For further details, individuals are advised to consult FY Bulletin 2024-03 titled "IDOR Abates Late Estimated Payment Penalties for Filers Who Elected to Pay Pass-through Entity Tax."

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Illinois Department of Revenue

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