New Mexico Amnesty Program Enacted.

The New Mexico Taxation and Revenue Department has enacted a temporary tax amnesty program allowing individuals and businesses to avoid paying penalties and interest on any unreported or unassessed taxes due before January 1, 2010. The amnesty period runs from June 7, 2010 to September 30, 2010. Taxpayers who sign an amnesty agreement within that period will not be assessed penalties. In addition, they will not have to pay interest on the tax assessment if the tax due is paid within 180 days. Additional information is available at (Release, New Mexico Taxation and Revenue Department, June 7, 2010).

Posted on July 30, 2010