Tax Analysts covers state tax amnesty programs with news, commentary, original source, and analysis. Tax amnesties are limited opportunities for a taxpayer with outstanding liabilities to pay off the principle amounts owed with limits on penalties or interest. Amnesties are used to incentivize the payment of owed taxes to the state and can generate millions in revenue.
Tax Analysts covers the IRS tax amnesty program developments across all 50 states and with commentary from both government officials and tax practitioners. For example, Tax Analysts covered New Hampshire Democratic Gov. Maggie Hassan's call for a broad tax amnesty plan that would run from May to July and would include a wide range of taxes. ("Governor Proposes Tax Amnesty to Balance Budget").
Massachusetts Republican Gov. Charlie Baker signed a limited 60-day tax amnesty plan that covers the corporate excise and some other tax types that would allow for a penalty waiver for taxpayers that pay what they owe, including penalty and interests. Tax Analysts spoke with industry experts on the proposed legislation ("State Taxation: Massachusetts Launches Corporate Tax Amnesty"). In South Carolina, legislation was introduced that would grant the Department of Revenue the authority to establish intermittent tax amnesty periods in the state. ("Bill Would Authorize DOR to Establish Tax Amnesty Periods").
Tax Amnesty initiatives are introduced periodically throughout the year as states try to rein in back taxes and boost revenue, and Tax Analysts is always up to date with its coverage and analysis of amnesty measures.
