From June 15 to August 15, 2007, the Texas Comptroller is offering a waiver of penalties and interest for taxpayers who underreported or are not yet permitted for tax. All state taxes administered by the Comptroller are eligible for amnesty, except unclaimed property and the Public Utility Commission gross receipts assessment. Reports originally due before April 1, 2007, are eligible for this limited-time amnesty. However, amnesty does not apply to assessments already identified by the Comptroller, taxpayers currently under audit or review, or taxpayers the Comptroller has already contacted about an audit or possible deficiency. In addition, taxpayers who have signed a settlement agreement or voluntary disclosure agreement before the beginning of the amnesty period are also ineligible. Taxpayers choosing to participate in the amnesty program will benefit from the opportunity to: 1) clear up unpaid, underreported, or overdue taxes without fear of retaliation; 2) pay without penalty and interest; 3) avoid legal action; and 4) avoid an increased chance of being audited. Conversely, taxpayers not choosing to participate are responsible for all taxes, penalties (can be as high as 60 percent of tax due) and interest. (Project Fresh Start, Texas Comptroller of Public Accounts)