05 / 13 / 14

"UPDATE: Louisiana Tax Amnesty 2014"

On Monday, May 12th, the Louisiana House of Representatives approved House Bill 663 – the 2014 tax amnesty law. Under the law, taxpayers who owe back taxes can save 67% of the penalties and 33% of the interest they owe on the overdue taxes.

Also, if passed by the Louisiana Senate, House Bill 663 gives taxpayers the ability to pay the back taxes in installments. This is a major difference from 2013 which required all of the back-taxes to be paid in one lump sum. In its current form, HB 663 gives taxpayers 6 months to pay the taxes.

We will keep you guys updated as the Bill progresses.

In the meantime, if you have overdue Louisiana returns NOW IS THE TIME to get them prepared and filed. The 2014 amnesty program will likely last only one month, which gives little time for tax preparation and gathering of funds to begin making the payments.

Call us or email us through this website for a free, initial evaluation of your state tax issues.