Massachusetts’ 60-day tax amnesty program, which encompasses corporate excise taxes among other tax types, is among measures the state hopes will close a nearly $770 million mid-year budget gap. The amnesty program encourages individuals and businesses that are in arrears to pay their delinquent taxes by temporarily eliminating the additional penalties that would normally be imposed.
The Commissioner of Revenue announced that the official 60-day amnesty period will run from March 16 to May 15, 2015 and applies to certain tax liabilities billed on or before January 1, 2015.
According to the DOR, approximately 24,000 taxpayers were sent a Tax Amnesty Notice late last week notifying them that they qualify for the program. They include taxpayers with unpaid tax liabilities in the tax types covered by the program, including corporate excise, estate tax, fiduciary income tax, and use tax on motor vehicles.
Eligible taxpayers must meet the following requirements:
(a) The taxpayer has an assessment of one of the following types: