Vermont: Amnesty Period SET!
Back on June 5, 2009, Vermont authorized an Amnesty Program to occur prior to October 2, 2009 (authorized by H.B. 441), but didn't provide any specific dates for the program. Well, this week Vermont released the dates.
According to Vermont, there will be a six week amnesty beginning July 20, 2009 and ending August 31, 2009 during which certain tax penalties will be forgiven upon payment of tax and interest.
Rules pertaining to the amnesty are available on the Department's website.
Similar to other states that have enacted amnesty programs, Vermont has clearly stated the amnesty will be followed by increased compliance efforts by the Department. In other words, it may be in a taxpayer's best interest to take advantage of the amnesty program if eligible.
If you have any questions, please contact me at firstname.lastname@example.org.
Click on the following link to access Vermont's release regarding the Amnesty:
Brian Strahle is the owner of LEVERAGE SALT, LLC where he provides state and local tax technical services to accounting firms, law firms and tax research organizations across the United States. He also writes a weekly column in Tax Analysts State Tax Notes entitled, "The SALT Effect." For more info, visit his website: www.leveragestateandlocaltax.com
You can reach Brian at email@example.com.
Because state and local taxes are deceptively simple and endlessly complicated.