SALT Report 1730 – The Kentucky Finance and Administration Cabinet released more details regarding the state’s tax amnesty program. The amnesty program will run from October 1, 2012 through November 30, 2012 and is limited to the taxable periods of December 1, 2001 through October 1, 2011. All amnesty applications must be submitted to the Department of Revenue by November 30, 2012.
In October, delinquent taxpayers will begin to receive notices in the mail stating the amount of taxes owed. These taxpayers will be given until November 30 to apply for amnesty and pay their overdue taxes. If the taxpayer fails to take advantage of the amnesty program, penalties and interest will increase by an additional 2% for all unpaid taxes that were eligible for amnesty.
Once a taxpayer is accepted into the program, they must file and pay all eligible and non-eligible tax periods in full. Tax periods with unresolved disputes or those that have not yet become due and payable are the only tax periods not required to be submitted. Corporate officers must include all assessed corporate liability and individual liability with their applications.
A website has been created to provide news and information about the program, online payment options, and a searchable database that lists all persons and businesses that have past due tax liabilities.
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