“Tax amnesty” program signed into law

Gives taxpayers two months to pay without penalty

SPRINGFIELD, Mass. (WWLP)- If you are getting notices that you owe the state back taxes. 22news is working for you with how you could get a break from paying penalties.

“Life does happen, and a person that wasn’t able to shouldn’t necessarily be penalized because of their particular situation,” Willie Wright, from Springfield, told 22News about his understanding of how some may not be able to pay their state income tax returns in time.

Now the state agrees. As part of the state budget the governor said “Okay” to a tax amnesty program. The new program was signed into law by Gov. Deval Patrick and is specifically aimed at those who didn’t file their tax returns this year and those who under reported their earnings.

It will also apply to past back taxes and to anyone who is currently being audited. Some Springfield residents told 22News the program could benefit to both taxpayers and the state.

Maurice Hankins, from Springfield, said, “That’s kind of a good thing that they’re not being penalized for it so they can get their situation all taken care of before they get penalized for it.”

“A financial problem you know or businesses are bad, they need a little time to recoup, and organize they’re business,” Chico Rivera, from Springfield, told 22News in reaction to the program.

Here’s how the program works, during a certain two month period, which hasn’t been decided yet, penalties for back taxes will be waived. There is no application or enrollment process like there was if tried to get penalty forgiveness in the past. And it is up for grabs for all state taxpayers, including corporations, partnerships, and LLC’s.

The bill was introduced by House Republicans, who estimate that it will bring about $35 million in revenue to the state.

Tax experts at Pignatare & Sagan, in West Springfield, advise you to contact your tax professional to find out if you are able to take part in the program.

blog comments powered by Disqus