Rhode Island – Tax Amnesty Bill Signed by Governor

SALT Report 1577 – The Rhode Island Senate recently passed legislation that provides a tax amnesty program applicable to all Rhode Island taxes.  The amnesty program runs from September 2, 2012 through November 15, 2012.
Program Guidelines
To qualify for the program all applicant Taxpayers must agree to the following terms:
  • Taxpayers must submit a written application to the Department and pay all taxes and interest due, or
  • Submit an application to the Department and arrange a payment plan for taxes and interest due, and
  • Taxpayer agrees that interest will be computed at the statutory interest rate reduced by 25%
The tax administrator will not collect any penalties, which normally apply, and will not civilly or criminally prosecute any taxpayer who has been granted amnesty.
Taxpayers that receive a bill or notice of deficiency determination or are involved in an audit that has been completed but not yet billed are eligible for the program.
Exclusions
Amnesty is not be available to taxpayers who are under criminal investigation or are a party in a pending civil or criminal proceeding for tax fraud.
Failure to Pay
If a Taxpayer fails to pay any installment due under the agreement, the agreement will be revoked and all unpaid balances will be due immediately.
For Further Information: