SALT Report 1897 – Kentucky Governor Steve Beshear issued a reminder that delinquent taxpayers have until November 30 to apply for tax amnesty. The amnesty program began October 1 and allows taxpayers to pay any back taxes to the state without penalties or fees and with half the interest. The Governor said that, on average, taxpayers will save approximately 30% on their total tax bill under the amnesty program. However, once the program ends, stiffer penalties and fees, plus a higher interest rate, will be imposed.
For taxpayers who want to take advantage of the amnesty program but can’t afford it, the Department is offering a payment plan to anyone that can prove a financial hardship. Under this plan, 25% of the amount owed must be paid up front and the balance must be paid in full by May 31, 2013. In this situation, penalties and fees are still waived, but the interest is not reduced.
The Governor’s press release also states that the Department of Revenue is expecting an increase in activity as the deadline approaches. Therefore, the Department has once again, extended their operating hours. Each office will be open regular hours plus extended hours as follows: Saturday, Nov. 17: 9 a.m. to 2 p.m.; Saturday, Nov. 24: 9 a.m. to 2 p.m.; Monday, Nov. 26 through Thursday, Nov. 29: 8 a.m. to 7 p.m.; Friday, Nov. 30: 8 a.m. to 9 p.m. or until the last taxpayer in line leaves.
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