The Massachusetts Department of Revenue has just issued the rules governing the 60-day Tax Amnesty Program included in Massachusetts’s fiscal year budget. If a taxpayer qualifies for the Program, the Commissioner will waive all unpaid penalties that could be assessed on unpaid taxes. However, the tax liability itself and the associated interest won’t be reduced. Tax types in the amnesty program include corporate excise (including financial institutions, insurance, public utilities, and banks), estate taxes, fiduciary income taxes, and individual use tax on motor vehicles. The tax amnesty will begin March 16, 2015 and end May 15, 2015. For more information see: www.mass.gov/dor/breaking-news/amnesty/tax-amnesty-info.html
