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Income Taxes › Tax Amnesty

Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect... more +
Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -
Kohrman Jackson & Krantz LLP

Ohio May Launch a Tax Amnesty Program

Kohrman Jackson & Krantz LLP on

For the first time in 5 years, Ohio may initiate a Tax Amnesty program for taxpayers to resolve delinquent tax obligations. Under a bill, signed by Governor DeWine in January 2023, the Director of Budget and Management can...more

White & Case LLP

Law on Restructuring of Some Receivables

White & Case LLP on

A detailed new amnesty law, "The Law Relating to Restructuring of Tax and Some Other Receivables and Amendments to Certain Laws" (the "Law"), which is quite comprehensive and offers partial tax amnesty for to the period...more

Freeman Law

The IRS’s Renewed Focus on Abusive Trust Arrangements

Freeman Law on

Taxpayers have long utilized trust arrangements for the transfer of wealth to beneficiaries or for the protection of assets from creditors.  Generally, there is nothing nefarious about these types of arrangements.  Rather,...more

Blank Rome LLP

Connecticut Enacts Budget Bill Extending Business Tax Surcharge, Delaying Capital Base Tax Phaseout, and Creating a Tax Amnesty...

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On June 23, 2021, Connecticut Governor Ned Lamont signed into law two budget bills comprising the state budget for the fiscal year 2022-2023 (the “Budget Bill”). H.B. 6689, S.B. 1202. The Budget Bill contained several...more

Freeman Law

Salt Alert Nevada Amnesty Program

Freeman Law on

The Nevada Legislature has enacted a one-time tax amnesty program for qualified businesses or individuals doing business in Nevada. Benefits Of Amnesty - The program allows for penalty and interest to be waived on...more

McDermott Will & Emery

Illinois Amnesty Programs Now Underway

McDermott Will & Emery on

As previously announced, the Illinois Department of Revenue has begun a new amnesty program, running October 1 through November 15, 2019. All taxes paid to the Illinois Department of Revenue for taxable periods ending after...more

Seyfarth Shaw LLP

New Illinois Law Eliminates Franchise Tax, Offers Tax Amnesty

Seyfarth Shaw LLP on

Illinois recently enacted legislation that offers significant benefits to delinquent taxpayers and corporations doing business in Illinois. The new legislation phases out the Illinois franchise tax over a four year period...more

McDermott Will & Emery

Illinois Fiscal Year 2020 Income and Franchise Tax Changes

McDermott Will & Emery on

The Illinois General Assembly enacted a number of new tax measures in a flurry of activity at the end of its legislative session. Some of the changes are taxpayer friendly and others are not. Unlike the no-deal chaos of past...more

Burr & Forman

IRS Releases New Guidance on Voluntary Tax Disclosures

Burr & Forman on

A bedrock of IRS administrative practice has been the voluntary disclosure. Where an individual or business has not filed tax returns or believes they may have criminal tax exposure for prior actions, IRS procedures have...more

Alston & Bird

Garden State Tax Amnesty in Full Bloom for Two Months

Alston & Bird on

New Jersey’s tax amnesty program might make the holiday season a little brighter for some taxpayers. Our State & Local Tax Group explains the program’s ins and outs and why the time to act is now for those seeking to take...more

Flaster Greenberg PC

New Jersey Tax Amnesty Provides an Opportunity to Stop Looking Over Your Shoulder

Flaster Greenberg PC on

Beginning November 15, 2018 and running until January 15, 2019 taxpayers in New Jersey who owe unpaid taxes of almost all types may pay amounts outstanding and avoid penalties and collection fees and will be subject to a...more

Eversheds Sutherland (US) LLP

Thanksgiving dinner arrives early – New Jersey serves up some amnesty dessert with some penalty turkey

Eversheds Sutherland (US) LLP on

New Jersey launched its tax Amnesty program on November 15, 2018. The program runs through January 15, 2019. Here are the top things you need to know about the program...more

Holland & Knight LLP

Posible Amnistía Fiscal en México para 2019

Holland & Knight LLP on

El anteproyecto de la Ley de Ingresos de la Federación para el ejercicio 2019 (LIF), contemplaría la condonación total o parcial de ciertos créditos fiscales sobre contribuciones federales y sus accesorios, el perdón de hasta...more

Cole Schotz

Governor Murphy’s 2019 Budget: What You Need To Know About The Latest Round Of Tax Hikes

Cole Schotz on

It was no secret that Governor Murphy ran on a platform heralding an aggressive spending plan of $37.4 billion to fund a lengthy list of entitlements such as hospital and prescription aid, opioid addiction treatment, free...more

Bradley Arant Boult Cummings LLP

Remember June 30 Deadline for Filing Moody Refund Claims - State & Local Tax Alert: Alabama Edition

Bradley Arant Boult Cummings LLP on

As previously reported, during the recent legislative session the Alabama Legislature finally resolved the so-called “Moody Issue,” named after the taxpayer victory in Moody v. Alabama Department of Revenue, regarding the...more

Burr & Forman

IRS Announces End to Foreign Bank Account Disclosure Program: What Can You Do Now If You Still Have Unreported Foreign Bank...

Burr & Forman on

The IRS recently announced it will be shutting down its successful Offshore Voluntary Disclosure Program (OVDP) for unreported foreign bank accounts and income. The program will end September 28, 2018. Under the OVDP, first...more

Bradley Arant Boult Cummings LLP

Recent Alabama Tax Legislative Developments

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Many predicted that the 2018 regular session of the Alabama Legislature would be less eventful than in years past since members of the House of Representatives and Senate are up for re-election this year, and most lawmakers...more

Foodman CPAs & Advisors

Why are US Citizens Renouncing their Citizenship?

Foodman CPAs & Advisors on

A significant number of US Taxpayers living overseas have become “unbankable” where they live because of high account servicing costs for local banks (Foreign Financial Institutions – also known as FFIs) caused by the...more

Partridge Snow & Hahn LLP

Rhode Island State Tax – 2018 Budget Highlights

Partridge Snow & Hahn LLP on

After some delay, Rhode Island's budget bill (H. 5175Aaa) was finally signed into law by the governor on August 3, 2017. The budget contains a number of changes impacting the administration of state and local taxes, not the...more

Burr & Forman

Tax Payment Plans: What Do You Do? (Part 3)

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If an individual or business owes federal taxes and does not have the current ability to pay these taxes, the IRS can “seller-finance” and offer a payment plan with the taxpayer. The primary benefit of a payment plan is that...more

Burr & Forman

Unfiled Tax Returns: What Do You Do? (Part 2)

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The United States has a voluntary income tax reporting system. U.S. citizens, permanent residents, and businesses here must annually file income tax returns with the IRS, reporting their “worldwide income”, deductions, and...more

Obermayer Rebmann Maxwell & Hippel LLP

2017 Pennsylvania Tax Amnesty Program

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Pennsylvania’s 2017 tax amnesty program (“Amnesty Program”) is currently underway. Through June 19, 2017, qualifying taxpayers who satisfy their delinquent tax liabilities will receive abatement of all penalties and one-half...more

Blank Rome LLP

Pennsylvania Tax Amnesty Begins This Week

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Action Item: Pennsylvania’s tax amnesty program begins this week and runs through June 19, 2017. Significant penalty and interest relief is available to all who participate, and taxpayers not known to the taxing authority can...more

Ballard Spahr LLP

PA Tax Update: Amnesty Program and SUT Change

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Pennsylvania has a tax amnesty program that will run from April 21, 2017, to June 19, 2017. Even with many limitations on participation, this program may provide value to eligible taxpayers who have unfiled Pennsylvania tax...more

Burr & Forman

South Carolina Tax Amnesty for 2017?

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The South Carolina General Assembly approved a law in 2015 allowing the South Carolina Department of Revenue to offer an amnesty program to taxpayers in the state who have not filed tax returns and/or owe state taxes....more

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