Illinois DOR Amends Regulation on Limitation Periods for Telecommunications Excise Tax Assessment, Refunds

The Illinois Department of Revenue (DOR) April 21 adopted an amended regulation extending the statute of limitations for the assessment of telecommunications excise tax liability when a credit or refund claim is filed within a specific period. The rule includes measures: 1) providing that any claim for credit or refund filed on or after Jan. 1 and July 1 with the DOR for amounts erroneously paid more than three years prior won’t be processed except when the DOR and taxpayer agree to an extension; and 2) specifying that beginning June 25, 2021, the statute of limitations to assess tax for ...