Now that tax season is over, we have a new topic with a certain level of urgency. Starting 21 April 2017, and ending on 19 June 2017, the PA Department of Revenue will open a tax amnesty program. This program forgives ALL penalties and half the interest due on eligible liabilities.
Generally, any filed but unpaid liabilities as of 31 December 2015 are eligible. For most people this will be limited to Pennsylvania income taxes, but for small businesses it includes sales tax, withholding tax, capital stock tax and a host of others less well known.
Pennsylvania unemployment taxes are not eligible because they are administered by the Department of Labor. There are other notable exceptions, such as taxes for the eligible periods that have not yet been filed, but those are best sorted out through a professional.
The amnesty is actually quite broad. It applies to filed returns, non-filed returns and unregistered corporations, LLCs and partnerships that should have registered and filed but did not.
If you receive an amnesty letter from the Department of Revenue or believe you might be eligible, please act quickly because the program closes completely on 19 June 2017. After the amnesty is over all penalties and interest charges will apply, as well as a 5% penalty for not participating in the amnesty program.
Please, if you think this may apply to you, call us right away! 610-770-9236