Florida Amnesty Program Enacted

The Florida Department of Revenue will develop and implement an amnesty program for taxpayers subject to various state and local taxes, including, corporate income, sales and use, severance, estate, and intangible personal property taxes. The program will run from July 1, 2010 to September 30, 2010. Eligible taxpayers must file the forms and other documentation specified by the Department of Revenue, including returns, full payment of tax due, interest, and the administrative collection processing fee. The amnesty program is a one-time opportunity for eligible taxpayers to satisfy their tax liabilities and avoid criminal prosecution, penalties, and in some cases, interest due. Any taxpayer which has entered into a settlement of liability for state or local option taxes before July 1, 2010, whether or not full and complete payment of the settlement amount has been made, is not eligible to participate in the amnesty program. However, taxpayers who may be under audit, inquiry, examination, or civil investigation initiated by the department may participate in the program and pay the full amount of the tax due, plus 75 percent of the interest. Taxpayers who make initial contact with the Department pursuant to the amnesty program will pay the full amount of the tax due and 50 percent of the amount of interest due. Additional rules and regulations may apply. For an update on this news item, click here. (Ch. 2010-166 (H.B. 5801), Laws 2010, effective May 28, 2010)

Posted on June 7, 2010