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.
TAXPAYER WARNING:
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 leveragesalt@earthlink.net.
Click on the following link to access Vermont's release regarding the Amnesty:
http://www.state.vt.us/tax/pdf.word.excel/legal/legislation/Highlights%20of%202009%20Legislation.pdf
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Gail Perry, CPA