Witching Hour Approaches for Florida Tax Amnesty Program

At midnight October 31, Florida closes the doors on its popular tax amnesty program and those who did not participate will face the wrath of the Florida Department of Revenue.

"This department will engage in a very substantial enforcement program for those that did not take advantage of this period," said Jim Zingale, director of the Florida Department of Revenue.

The program, which was offered to Florida individuals and businesses, has raked in $35 million in back taxes and interest since it began on July 1, 2003. That's quite a bit less than the $75 million the government says it is owed, but tax payments are still being tallied and the state is hopeful that many more taxpayers will submit payments before the October 31 due date.

Florida taxpayers not currently under criminal investigation who are not already participating in a tax settlement agreement and who agree to waive all rights to protest and rights to receive refunds related to the tax liability are eligible to participate. The amnesty program covers taxes on income, sales, intangible property, estates, fuel, oysters (!), communications services, and more.

Taxes that were owing prior to July 1, 2003 can be paid during the amnesty period without penalty and with only 1/2 the normal amount of interest due. Tax amnesty payments can be made online at the Florida Department of Revenue Web site, and more information about the program is there as well.

You may like these other stories...

IRS audits less than 1 percent of big partnershipsAccording to an April 17 report from the Government Accountability Office (GAO), the IRS audits fewer than 1 percent of large business partnerships, Stephen Ohlemacher of the...
Legislation coming out of Washington just might reduce homeowners' burden for disaster insurance. It's a topic very much on everyone's minds since the mudslide in Oso, Washington. The loss of human life was...
Divorce is hard, and the IRS isn't going to make it any easier. The IRS generally says "no" to tax deductions that might ease the pain of divorce. In certain circumstances, however, you might be able to salvage...

Upcoming CPE Webinars

Apr 22
Is everyone at your organization meeting your client service expectations? Let client service expert, Kristen Rampe, CPA help you establish a reputation of top-tier service in every facet of your firm during this one hour webinar.
Apr 24
In this session Excel expert David Ringstrom, CPA introduces you to a powerful but underutilized macro feature in Excel.
Apr 25
This material focuses on the principles of accounting for non-profit organizations' revenues. It will include discussions of revenue recognition for cash and non-cash contributions as well as other revenues commonly received by non-profit organizations.
Apr 30
During the second session of a four-part series on Individual Leadership, the focus will be on time management- a critical success factor for effective leadership. Each person has 24 hours of time to spend each day; the key is making wise investments and knowing what investments yield the greatest return.