State Tax Snapshot: Kentucky, Ohio, and Texas to Grant Tax Amnesty in 2012

In an effort to fill widening budget gaps, states have turned to tax amnesty programs to generate revenue. Such programs allow delinquent taxpayers an opportunity to pay overdue taxes without incurring the kinds of penalties or interest usually imposed by the state.

For 2012, amnesty programs will be offered in Kentucky, Ohio, and Texas. Below are some basic terms of each state’s amnesty:

Kentucky: Scheduled to run 60-90 days during the fiscal period ending June 13, 2013. The state will waive interest and penalties on delinquent tax debts arising between Dec. 1, 2001, and Oct. 1, 2011.

Ohio: From May 1 through June 15, 2012, Ohio will waive one-half of interest and all penalties owed on qualifying delinquent tax debts.

Texas: From June 12 through Aug. 17, 2012, the Texas Comptroller of Public Accounts will waive penalties and interest for businesses that file delinquent tax reports and pay all taxes due, or amend reports that under reported taxes and pay the taxes due. Reports originally due before April 1, 2012, are eligible for this limited amnesty.

By Steven Roll
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