Illinois Governor JB Pritzker extends tax filing deadline because of coronavirus
Illinois Gov. J.B. Pritzker announced the state’s income tax filing and payment extension would be pushed back three months to accommodate families and businesses struggling during the coronavirus pandemic.
The new deadline is July 15, pushed back from April 15, but the Department of Revenue said residents should still file their returns as quickly as possible.
“The Illinois Department of Revenue is working diligently to get refunds into the hands of every taxpayer that is owed one. To speed refunds, taxpayers can do their part by filing electronically and requesting a direct deposit,” said David Harris, director of the Illinois Department of Revenue.
The governor also announced $90 million for three new financial relief programs for small businesses.
The Illinois Small Business Emergency Loan Fund makes $60 million in low-interest loans available. Small businesses — those with fewer than 50 employees and less than $3 million in 2019 revenue — can apply for up to $50,000 in loans repayable over five years.
Secondly, the Downstate Small Business Stabilization Program provides $20 million in grants to small businesses in suburban and rural areas across the state. Businesses served by the state Office of Community Development can apply for up to $25,000 in grants.
Finally, the Hospitality Emergency Grant Program makes $14 million in grants available to small hospitality businesses such as bars, restaurants or hotels. Bars and restaurants could be eligible for up to $25,000, and small hotels could be eligible for up to $50,000.
Applications for and more information about the grants and loans will be available by the end of the week at the Department of Commerce and Economic Opportunity’s website and on the state’s coronvarius informational page at coronavirus.illinois.gov.
This story was originally published March 25, 2020 at 3:34 PM.
