By: Angela S. Bryson
You may remember hearing about the "LA Tax Amnesty 2013: A Fresh Start." The Louisiana Department of Revenue (LDR) offered this program in 2013 to give Louisiana residents an opportunity to bring their past due tax liabilities up-to-date by paying all taxes due, with waiver of all penalties and 50% of the interest. The 2013 program received more than over 52,000 applications with payments totaling over $435 million.
Here's some good news! If you missed out on the 2013 amnesty program or you still owe the state back taxes the bill that established the 2013 Tax Amnesty Program mandates that LDR offer amnesty to taxpayers again in 2014 and 2015. The programs will run for at least one month between July and December of each year. During the 2014 amnesty, LDR will offer a 15% penalty waiver, but no interest waiver. During the 2015 amnesty, taxpayers will receive a 10% penalty waiver.
We will update our website as the details for the 2014 program are announced. In the meantime, if you have unfiled state returns it would be a good idea to get those prepared and filed now so that you can take advantage of the amnesty provisions in July. Contact us if you need additional information or help.
Have a great day!