Nevada Enacts Tax Amnesty!

According to budget legislation [1] signed into law, Nevada will offer tax amnesty for all taxes beginning July 1, 2010 until October 1, 2010. Amnesty May Save Penalties and Interest Section 64 of Assembly Bill 6 [1], enacted March 12, 2010, requires the Department of Taxation to allow a person who on July 1, 2010, is delinquent in the payment of a tax, fee or assessment to pay the amount due without any penalty or interest in certain circumstances. This amnesty program will apply only to a person who files a request for relief and pays the amount due between July 1, 2010, and October 1, 2010. Amnesty does not apply to any person who has entered into:

1. A compromise or settlement agreement with the Department of Taxation regarding the unpaid tax, fee or assessment; or
2. A compromise with the Nevada Tax Commission regarding the unpaid tax, fee or assessment pursuant to NRS 360.263.

May Still Be Audited A person who requests or receives relief pursuant to this section may be selected for an audit and audited by the Department of Taxation in the same manner as a person who does not request or receive relief pursuant to this section. Contact for Assistance If you would like assistance in determining if you or your client should take advantage of this amnesty program, please contact me at brian.strahle@bakertilly.com [2].