Thursday, December 17, 2009

Pennsylvania Offers Tax Amnesty Program

The state of Pennsylvania has approved a Tax Amnesty Program which will run April 26, 2010, to June 18, 2010. All taxes owed to the Commonwealth administered by the Department of Revenue are eligible for Amnesty.

Among the taxes covered are unpaid surplus lines taxes for the 2008 calendar year. To participate, taxpayers will need to file an online Amnesty return, file all delinquent tax returns and make the required payment within the Amnesty Period. All penalties and one-half of the interest due will be waived.

If additional liabilities unknown to the Department are owed by a taxpayer, the taxpayer will need to register and complete an online Amnesty Return which includes a line item summarizing tax owed for each newly-reported or amended period, calculate the applicable interest, and remit payment of the balance due reflected on the Amnesty Return no later than the last day of the Amnesty Period.

Along with the payment for all taxes and one-half of the interest, all missing tax returns or reports must be filed electronically or on paper no later than June 18, 2010.

For complete details, please see the Pennsylavania website.

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