Sales and use tax amnesty, is a program where by a state will abate or reduce the interest and penalties due from an individual or business in return for payment of the remaining balance due on a sales and use tax assessment.
Many states are implementing sales and use tax amnesty programs in order to try to plug a hole in the current state budget. Depending on the specific state program, amnesty allows you to settle both current sales and use tax bills and potential sales and use tax problems. Generally the settlement abates all penalties and reduces or eliminates the interest.
However, there are very specific due dates and applications that must be followed in order to avail oneself to the benefits of the current sales and use tax amnesty programs. Once the due date to file for an amnesty program has passed a state generally imposes additional penalties for the failure to resolve the tax assessment during the amnesty period.
We have helped dozens of businesses and individuals save hundreds of thousands of dollars by taking advantage of the various state sales tax amnesty programs.
Note: Nothing on this website should be interpreted to be legal, tax, or accounting advice. Every business or person should obtain detailed advice as applied to a specific transaction or hypothetical fact pattern.