Colorado Tax Amnesty Ends November 15
- Sales Tax News
- Nov 9, 2011 | Susan McLain
The amnesty program that brought in more than $800,000 in the first month, is now winding down to a close. Many states will occasionally offer “amnesty” time periods where delinquent taxpayers can come forward and, with impunity from criminal or civil action, “come clean” and pay their debt. Some states will waive all penalties and fees, but others will reduce the penalties and fees.
Colorado is offering a reduction in interest for the delinquent time period. Taxes that were due on or before December 31, 2010, qualify if the taxpayer is not already under investigation for delinquency or facing criminal investigation.
If a taxpayer meets the eligibility requirements, then “…a payment plan may be set up. However, the full amount of the tax and half of any interest due must be paid no later than Dec. 31, 2011.” To take advantage of the amnesty program, learn more at the Colorado Department of Revenue website and take action before Tuesday, November 15, 2011, when the amnesty opportunity closes.