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Sales & Use Tax Tips for May 2010
SALES & USE TAX AMNESTY
Did you Know Many States Offer Amnesty Programs Periodically?
These programs help raise revenue for the state and also provide benefits to the taxpayer. Amnesty programs generally allow taxpayers who have failed to file various business returns or who have under reported on returns an opportunity to come forward voluntarily and rectify the tax deficiency. In return the state will not press criminal charges and will waive penalties. Some states will even waive a portion or all of the interest in return for coming forward.
Some state Amnesty programs have already been scheduled to take place during 2010. For example, Massachusetts has a program going on right now and New Mexico, Nevada, and Pennsylvania have programs scheduled for 2010. Don't wait to act; some states will impose an additional penalty on taxpayers who did not take advantage of the Amnesty programs.
To learn more about whether a particular state has an Amnesty program scheduled for 2010 or for other Exposure Resolution options or assistance please Contact us today. Or call 1-888-466-2829 to speak with an Olivier &
Associates Sales and Use Tax professional for a no-obligation consultation about your Sales & Use Tax issues.
* This tip is intended to provide general information only and is not to be considered as a substitute for professional advice.
