The Kentucky Department of Revenue is launching a Tax Amnesty Program which allows people or businesses who owe back taxes to the Commonwealth of Kentucky to pay with no fees or penalties and at only half of the interest due.
Finance and Administration Cabinet Secretary Lori H. Flanery said This program will generate much-needed revenue for vital services in Kentucky at a time when dollars are hard to come by. At the same time we are making sure that delinquent taxpayers pay their fair share.
The program will begin October 1 and end on November 30. Delinquent taxpayers will soon receive mailed notifications stating the known amount of back taxes. They have until the end of November 2012 to apply for amnesty and pay their overdue taxes.
If taxpayers fail to take advantage of the amnesty program an additional 2 percent interest will be charged on unpaid amnesty-eligible taxes. Taxpayers taking advantage of amnesty must remain current over the next three years or face reinstated penalties fees and interest.
To search the Listing of Delinquent Debtors to determine if you or your business has an existing tax lien click here.
image courtesty of KY Tax Amnesty