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For two months, starting Oct. 1, taxpayers who owe Kentucky back taxes from between Dec. 1, 2001 and Oct. 1, 2011 will be eligible for a tax amnesty program.
Qualifying taxpayers will pay only the taxes owed and half of the interest. Kentucky will waive all penalties and fees and the other half of the interest.
Substantial fees and penalties could be assessed on taxpayers in arrears who do not take advantage of the amnesty program, so the Kentucky Department of Revenue highly suggests use of the Kentucky Voluntary Disclosure Program and consultation with a qualified multistate tax consultant.
For more info, go to Kentucky Amnesty.
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