Tax Guru-Ker$tetter Letter

Thursday, August 28, 2003

State Tax Amnesty Programs
The Federation of Tax Administrators has a handy summary of the currently open state tax amnesty programs, as well as all such programs that have been used since 1982.

The amnesty programs currently in progress are:

Florida: July 1 - Oct. 31, 2003
Missouri: Aug. 1 - Oct. 31, 2003
Arizona: Sept. 1 - Oct. 31, 2003
Maine: Sept. 1 - Nov. 30, 2003
Virginia: Sept. 2 - Nov. 3, 2003
Kansas: Oct. 1 - Nov. 30, 2003
New York City: Oct. 20, 2003- Jan. 23, 2004

There are pros and cons to participating in these programs; so examine all of the consequences before jumping in. The biggest con is the fact that the information provided to the State tax agencies will be shared with IRS, which has no amnesty program. You really shouldn't consider even taking part in any State amnesty program unless you are ready to come clean on delinquent Federal taxes as well.
- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 8/28/2003 12:50:00 PM Send this post: