- Connecticut: Amnesty Program Currently In Effect, Ends Soon
- October 7, 2013 | Authors: David M. Kall; Susan Millradt McGlone
- Law Firm: McDonald Hopkins LLC - Cleveland Office
Connecticut recently kicked off its tax amnesty program. However, the Connecticut Tax Amnesty Program (the Program) is short-lived and only available through November 15, 2013. The Program allows taxpayers to pay back taxes to the state while having interest owed reduced by 75 percent, as well as the avoidance of penalties and criminal prosecution. In addition, amnesty is open to individuals and businesses alike who owe Connecticut taxes for any period ending on or before November 30, 2012.
The Program is open to individuals and businesses currently under audit.
While amnesty programs can be beneficial to most businesses and individuals, there are consequences and risks involved in using any amnesty program. It is also important to evaluate whether the taxes you owe qualify for the program, among other important considerations. As such, McDonald Hopkins strongly urges taxpayers to seek professional advice before filing an application or communicating with the Connecticut Department of Revenue Services.