Great news! Per the Louisiana Department of Revenue's Tax Amnesty website (http://ldrtaxamnesty.com/), the FINAL round of the Louisiana Tax Delinquency Amnesty Act of 2013 will take place.
Amnesty will be granted for eligible taxes to qualified taxpayers who apply during the amnesty period and who agree to settle their accounts with the state by paying 100 percent of delinquent taxes, 83 percent of the remaining interest and 67 percent of the remaining penalties due. Once approved, the Secretary of Revenue shall waive the remaining 17 percent interest and 33 percent penalties. The Louisiana Legislature has set a goal of collecting $50 million for the 2015 Tax Amnesty Program.
The amnesty program will begin at 12:01 a.m. on Nov. 16, 2015 and will end at 11:59 p.m. on Dec. 15, 2015. BUT DO NOT WAIT! It takes time to gather all of the paperwork necessary and to complete the application process. Call us TODAY
The state will waive 33% of all penalties and 17% of all interest if the taxpayer takes advantage of the amnesty program (which in years past has required the taxpayer to be able to pay the remainder (tax and unwaived penalties and interest) in full or in a 6-month installment agreement. We aren't sure if an Installment Agreement will be an option this year, but should find out soon!)
Amnesty is a great opportunity for taxpayers to settle their delinquent state tax bills while also saving money in waived penalties and interest. After this final round of amnesty, we don't expect it to be offered again until 2025!