There always seems to be an amnesty program going on somewhere, particularly if you know where to look.
States are aggressively pursuing delinquent taxpayers, while still making it relatively easy for them to come forward themselves. Last year, we wrote an article about some interesting amnesty programs in Connecticut (CT), Ohio (OH), and Rhode Island (RI).
Most amnesty programs allow for a waiver of penalties and a limitation on interest if businesses come forward under the terms of the program as specified by the state legislature. Most of the programs are limited in time (often only a two to three month window) and only cover certain taxes. Yet, with the right fact pattern, a company might benefit from engaging in such a program. But not always. As with most things related to multi-state tax issues, the answer may require a little more research and analysis. Read More