Illinois DOR Releases Instructions for Form RUT-50-X, Amended Private Party Vehicle Use Tax Transaction

The Illinois Department of Revenue (DOR) Dec. 1, 2021 released instructions for Form RUT-50-X, Amended Private Party Vehicle Use Tax Transaction, for sales and use tax and excise tax purposes. Taxpayers can use Form RUT-50-X to: 1) correct their return, either to pay more tax or to request a refund of overpaid tax; or 2) make corrections to nonfinancial information on their return. The DOR explains that taxpayers can file a claim for tax overpaid during the current year and previous 36 months. Beginning July 1, taxpayers can file a claim for tax overpaid during the current year and previous ...