SALT Report 1733 – The New York Department of Taxation has updated its publication regarding the state’s voluntary disclosure program. The publication will help individuals and businesses with state tax liabilities from prior years fulfill their tax obligations.
The program is open to all taxes administered by the Tax Department – including income, corporate, and sales tax. Eligible taxpayers must agree to comply with all aspects of the program including:
- Reporting all taxes owed,
- Entering into an agreement to pay what they owe, and
- Agreeing to pay their taxes on time in the future
In return, the Tax Department agrees to:
- Waive any tax penalties, and
- Waive prosecution of cases that were criminal offenses
The publication also discusses the eligibility requirements and the online application process.
For Further Information: