Illinois Administrative Code
Title 86 - REVENUE
Part 5000 - ORGANIZATION, INFORMATION, RULEMAKING AND HEARINGS
Subpart D - PROCEDURAL RULES
Section 5000.350 - Bonds
Current through Register Vol. 48, No. 38, September 20, 2024
a) General. The Tax Tribunal may require the taxpayer to post a bond equal to 25% of the liability at issue:
b) Surety Bonds. If the Tax Tribunal determines that a taxpayer should post a bond, any surety bond must be obtained from a third party and filed with the Tax Tribunal.
c) Liens. If a taxpayer is unable to procure and furnish a satisfactory surety or sureties, the Tax Tribunal may impose a lien or liens in lieu of bond against any real or personal property of the taxpayer in the amount of the required bond. A taxpayer who is required, but unable to procure a bond, must file a sworn statement of assets and liabilities, a title search of any real property to be encumbered, and a UCC search of any personal property to be encumbered with the Tax Tribunal.