Massachusetts Tax Amnesty 2016
- Sales Tax News
- Feb 25, 2016 | Gail Cole
The Massachusetts Department of Revenue is offering a tax amnesty program from April 1 to May 31, 2016. During this time, individuals and businesses in Massachusetts with unpaid back taxes may file delinquent returns or amend prior tax filings. Successful participants will pay only the tax and interest owed; penalties and interest on the penalties will be waived.
Amnesty applies to all taxes administered by the Massachusetts Department of Revenue except the following:
- International Fuels Tax Agreement (IFTA) taxes
- Preferred Provider excise
Tax Amnesty is open to individual and business taxpayers who:
- Are not currently registered with the Department of Revenue (but should be) OR
- Have not reported the full amount of tax owed on a previously filed return for any tax return due on or before December 31, 2015
It is not open to individuals and businesses who:
- Are currently or have been investigated or prosecuted for a tax-related crime OR
- Have previously filed a false or fraudulent return or statement OR
- File a fraudulent amnesty return
The Department of Revenue’s new tax system allows participants to electronically file amnesty returns. Online amnesty returns will be available on the department website beginning April 1, 2016. Additional information is available here.
Tax amnesty programs are a great way for taxpayers to minimize the financial consequences of tax liabilities. Avoiding liabilities in the first place is even better.
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