The Connecticut legislature has approved a tax amnesty program that will run from September 16 to November 15, 2013. It is open to individuals, businesses, and taxpayers that owe Connecticut state taxes (with the exception of motor carrier road taxes) for any taxable year ending on or before November 30, 2012.
If a taxpayer files the amnesty application during the applicable period and pays all the taxes owed, plus interest, civil penalties will be waived and there can be no criminal prosecution for those periods. Furthermore, if all taxes are paid by November 15, 2013, the interest on the overdue tax will be reduced by 75 percent. After the close of the amnesty period, a special penalty of 25 percent of all unpaid taxes will be imposed on taxpayers who would have been covered by the amnesty terms but did not file a timely application.
Amnesty is not available to taxpayers that are parties to: a criminal investigation/litigation pending in federal or Connecticut court as of July 1, 2013; a closing agreement with the Department of Revenue Services’ commissioner; or a managed audit agreement.
The views express in this article are those of the author and do not necessarily reflect the position or policy of Berkeley Research Group, LLC.
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