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Rhode Island Taxpayers Have Relief for Overdue Taxes
Posted by Tarra Curran on Wed, Dec 13, 2017 @ 03:40 PM

Roughly 90,000 taxpayers in Rhode Island have a significant tax relief opportunity available to them. That’s the estimated number of taxpayers who owe the state taxes, and Rhode Island is offering a tax amnesty period to assist taxpayers with becoming compliant.

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Topics: Tarra Curran, Tax amnesty program, Rhode Island, Overdue taxes

There’s Relief for Overdue Taxes in Rhode Island
Posted by Tarra Curran on Wed, Oct 11, 2017 @ 01:28 PM

Tax amnesty programs provide significant benefits for businesses and individuals, particularly if they had previously unknown state and local tax liabilities. Uncollected taxes are subject to fines and other late payment penalties. They also accrue interest, so if unpaid taxes go back several years, it could be a significant cost. Taxpayers with overdue Rhode Island tax obligations may be able to get a reprieve on what they owe.

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Topics: Tarra Curran, Tax amnesty program, Rhode Island, Overdue taxes

Mass DOR Announces Dates of FY2015 Tax Amnesty Program
Posted by Tarra Curran on Mon, Mar 30, 2015 @ 09:47 AM
On March 5, 2015 we told you about Massachusetts’ Tax Amnesty Program for FY2015. Since then the dates for the program have been announced and letters to eligible taxpayers have been disseminated. Here’s a quick update.
 
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:
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Topics: Tarra Curran, FY2015, Tax amnesty program

Massachusetts Includes Corporate Excise in FY2015 Tax Amnesty Program
Posted by Tarra Curran on Thu, Mar 5, 2015 @ 09:02 AM

Massachusetts will offer a 60-day tax amnesty program during FY2015 that will encompass corporate excise taxes, among other tax types. The Commissioner of Revenue has yet to determine the exact periods covered. The amnesty program was included in H.B. 52, a bill aimed at helping close a nearly $770 million mid-year budget gap. The bill was signed by the governor on February 13, 2015.

The amnesty program itself is intended to encourage businesses and individuals that are in arrears to pay their delinquent taxes by temporarily eliminating the additional penalties that would normally be imposed. Many states utilize amnesty programs, viewing them a “win-win” opportunity since taxpayers can remit back taxes while avoiding costly penalties, and states can collect revenue without paying costs associated with tax audits. Massachusetts has offered amnesty programs in the past. In 2010 Massachusetts collected $32.5 million during its tax amnesty program, and back in 2002 collected more than $100 million. (Collection figures are not yet available for the program that ran in 2014.)

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Topics: Tarra Curran, FY2015, Tax amnesty program

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