Louisiana tax amnesty is back again!
Louisiana Tax Amnesty 2014 began today, October 15, 2014, and will be held through November 14, 2014. This year’s 30-day tax amnesty program offers taxpayers the opportunity to settle tax matters with the Louisiana Department of Revenue by paying 100% of the delinquent taxes. In return, the Department will waive 100% of the penalties and 50% of the interest owed.
Importantly, however, taxpayers should keep in mind the following when considering tax amnesty:
- Applying for amnesty means the taxpayer agrees to the Department’s position for three years;
- The taxpayer is still susceptible to audit; and
- The taxpayer waives the right to any refunds for periods for which the taxpayer claims amnesty.
The Louisiana State Legislature has set a goal of collecting $100 million during the 2014 tax amnesty program.
Additional information regarding the Louisiana Tax Amnesty 2014 program can be found at the Department’s tax amnesty website at www.ldrtaxamnesty.com. Taxpayers can also obtain more information by calling the Department’s tax amnesty “hotline” at 866-782-9241.
The Department has also issued a Revenue Information Bulletin (No. 14-017) on Louisiana Tax Amnesty 2014.
New to the tax amnesty program this year is the option for qualifying individual and business taxpayers to pay their overdue tax liabilities through installment payments over a six-month period of time. For those taxpayers interested in making installment payments, the Department has also issued an emergency rule, LAC 61:I.4915, which provides further clarification regarding this new payment option.
LAGNIAPPE FROM THE CHEF’S CORNER:
Cooler weather has finally arrived in Louisiana, which means it’s time for gumbo! Be on the lookout for our upcoming post, which will provide our recipe for Chicken and Sausage Gumbo.