Colorado Tax Amnesty
The Colorado Department of Revenue recently announced a campaign to convince delinquent taxpayers to file returns under a Colorado tax amnesty program.
Taxpayers who have not filed returns have a 45-day period starting Oct. 1 to pay any back taxes without penalty or criminal prosecution. Interest charges on delinquent taxes will be halved. The offer is open to induviduals and businesses who have not filed and who owe money on their taxes.
The Department of Revenue has nicknamed this program: “Jump at the Chance – Colorado Tax Amnesty.”
The director of revenue, Barbara Brohl said: “Colorado Tax Amnesty is an opportunity for those who have past-due taxes to set the record straight,” “By paying now, under this program, those taxpayers can avoid the maximum penalty later.”
$10 million to $12 million in revenue is expected as a result of this new amnesty program.
The last tax amnesty program Colorado offered was in 2003, when $23.4 million in unpaid taxes was collected from 4,100 taxpayers.
There are some exceptions to eligibility for the program. Anyone who thinks they qualify should contact a qualified tax professional to learn the details of this program.
The program does not include any money due on your 2010 return.
Franklin Accounting and Tax Service is announcing a 10% discount for anyone who qualifies for the program. Their phone is 720-282-9626.
Checkout this short video by the Colorado Department of Revenue… Yes… it’s true! Starting Oct. 1 you can pay any back taxes without penalty or criminal prosecution! Do it now!
Colorado Tax Amnesty Your Opportunity
“Colorado Tax Amnesty is an opportunity for those who have past-due taxes to set the record straight.”