Avoid Penalties During Oklahoma's Voluntary Compliance Initiative 2015
- Sep 8, 2015 | Gail Cole
Oklahoma will offer a temporary Voluntary Compliance Initiative (VCI) this fall in order to encourage both business and individual taxpayers to pay past-due taxes. Successful participants will have penalties, interest, and collection fees and costs waived. VCI runs September 14 – November 13, 2015.
Taxpayers with past-due taxes for any tax period ending prior to January 1, 2015, are eligible for the program. The program will reach back as far as the liability extends, “provided the Oklahoma Tax Commission can support the liability.”
VCI covers taxes never filed or underreported, and previously assessed taxes not paid. To have penalties, interest and fees waived, taxpayers must “meet the requirements and pay the tax balance due or timely comply in full with the terms of a payment plan agreement established under VCI.”
The following taxes are eligible for VCI:
- Gasoline and diesel tax
- Gross production and petroleum excise tax
- Income tax
- Mixed beverage tax
- Privilege tax
- Sales and tax
- Withholding tax
Additional information is available through the Oklahoma Tax Commission.
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