Tax amnesty

Indiana State Senator Eddie Melton’s Bill to Generate Revenue and Address Local Blight Passes Committee Unanimously

Retrieved on: 
Thursday, January 28, 2021
Tax administration, Tax amnesty, Tax evasion

INDIANAPOLIS, Jan. 28, 2021 (GLOBE NEWSWIRE) -- Senate Bill 275 authored by State Senator Eddie Melton (D-Gary) passed out of the Senate Tax and Fiscal Committee with unanimous support this week.

Key Points: 
  • INDIANAPOLIS, Jan. 28, 2021 (GLOBE NEWSWIRE) -- Senate Bill 275 authored by State Senator Eddie Melton (D-Gary) passed out of the Senate Tax and Fiscal Committee with unanimous support this week.
  • If approved into law, the bill would create a tax amnesty program for participating counties, waiving the penalty and interest of delinquent taxes.
  • Sen. Melton released the following statement on the passage of his bill:
    Having this bill pass out of committee with overwhelming and bipartisan support is encouraging, Sen. Melton said.
  • Thats why Im very supportive of Sen. Meltons bill and pleased to see it moving through the statehouse.

Honest Tax Announces the Coronavirus Tax Amnesty Program for any Struggling Taxpayer

Retrieved on: 
Monday, March 23, 2020
Tax, Taxation in the United States, Revenue services, Tax administration, Tax amnesty, Tax evasion, Back taxes, Internal Revenue Service

WOODLAND HILLS, Calif., March 23, 2020 /PRNewswire/ -- Honest Tax , America's most honest and straightforward tax mediation company, is very proud to announce the launch of their new Coronavirus Tax Amnesty Program.

Key Points: 
  • WOODLAND HILLS, Calif., March 23, 2020 /PRNewswire/ -- Honest Tax , America's most honest and straightforward tax mediation company, is very proud to announce the launch of their new Coronavirus Tax Amnesty Program.
  • This program enables any taxpayer that owes back taxes and has lost their job due to the Covid-19 Coronavirus pandemic to receive a two year or more reprieve from their IRS Tax obligation.
  • Per IRS guidelines, we can place almost any taxpayer into this program that has lost employment due to this virus," says Mitch Agnew, Vice President of Honest Tax.
  • Founded in 2005, Honest Tax has become one of the most sought after tax resolution companies in the country.

Enforcement Notification - Tax evasion - Lake Cowichan businessman sentenced for tax evasion

Retrieved on: 
Friday, November 16, 2018
Taxation in the United States, Economy, Tax, Tax resistance in the United States, Informal economy, Tax evasion, Excise, Income tax in the United States, Tax evasion in the United States, Tax amnesty

Mr. Gonyea was also fined $50,496.50, after pleading guilty on July 31, 2018, to three counts of tax evasion under the Income Tax Act and to one count of tax evasion under the Excise Tax Act.

Key Points: 
  • Mr. Gonyea was also fined $50,496.50, after pleading guilty on July 31, 2018, to three counts of tax evasion under the Income Tax Act and to one count of tax evasion under the Excise Tax Act.
  • Tax evasion occurs when an individual or business wilfully ignores or disregards Canada's tax laws.
  • For the 5-year period of April 1, 2013 to March 31, 2018, the courts have convicted 307 taxpayers of tax evasion.
  • Under the income tax and excise tax laws, persons convicted of tax evasion will face fines ranging from 50% to 200% of the evaded taxes and up to five years imprisonment.

California Voluntary Disclosure Program for Unclaimed Property Proposed

Retrieved on: 
Friday, April 20, 2018
Personal property law, Lost, mislaid, and abandoned property, Squatting, Voluntary disclosure agreement, VDA, Tax amnesty, Property, Law, Anthropology

However, on February 16, 2018, a bill was introduced in the California Assembly, which would create a Voluntary Disclosure Agreement (VDA).

Key Points: 
  • However, on February 16, 2018, a bill was introduced in the California Assembly, which would create a Voluntary Disclosure Agreement (VDA).
  • An unclaimed property VDA is a program that is similar to a tax amnesty program in that it would allow companies to report past due unclaimed property without being assessed interest or other penalties.
  • Because California actively seeks out companies with unclaimed property compliance gaps and imposes very significant interest assessments for reporting unclaimed property late, the proposed VDA would present a good opportunity for companies operating in that state to lower their unclaimed property liability risk.
  • To learn more about your company's potential unclaimed property liability risk in California and ways to reduce that risk, please reach out to one of Ryan's unclaimed property professionals.