Illinois Department Of Revenue Fails To Receive Tax Returns On Deadline

April 15th, 2010 - 7:21 pm ICT by GD  

By Madhuri Dey
stateIllinois, Apr 15, (THAINDIAN NEWS) The Illinois Department of Revenue has declared that even though the day has come to file the tax returns, the filings still have not been completed by a huge number of residents of the state of Illinois. The last date for the filings is on Apr 15, and yet, this time it seems that most of the Illinoisans would have to ask for an extension. On the other hand, there has been an increase in the number of online tax filings, which, according to the Illinois Revenue Department, has increased by about 2 percent. Numerically, this means that almost 2 million more residents of Illinois are filing their tax returns online this year.

Regarding the increase in the application for extensions, the Department feels that it is not very unexpected, given that a huge number of the residents of the state are still out of work, with a large percentage of the country still reeling under the unemployment that set in with the recession. Now, even though the country is gradually recovering from the sorry state of affairs, things are not much better in most of the states, with Illinois being no exception.

The other reason for the tax returns not yet being filed is the unemployment benefit, which is excluded from taxes in many states, including Illinois. Unemployment being huge, many of the taxpayers have not had to pay their taxes as it got included in the unemployment benefits that they received, as part of the economic stimulus package of the federal government. This also means that applications for refunds are considerably higher this year, as per the reports provided by one of the spokespersons of the department.

Related Stories

Tags: , , , , , , , , , , , , , , , , , , ,

Posted in Business |

Subscribe