Pennsylvania is offering a tax amnesty on certain overdue state taxes until June 19, 2017.
This amnesty will waive 100% of the penalties and 50% of the interest on the amount owing. It will apply to most state taxes, including corporate and personal Income taxes, sales taxes and use taxes (but not property taxes), that were delinquent on December 31, 2015, regardless of whether the state is aware of the amount owed (e.g., amnesty is available even where a taxpayer has received an audit assessment).
To receive the amnesty, taxpayers must ensure that Pennsylvania receives, by June 19, 2017, an application for the amnesty, any necessary filings (or amended filings) and any payments. Pennsylvania said that, taxpayers who were eligible for the amnesty but do not participate, and are subsequently determined to have tax delinquencies, will be assessed an additional 5% penalty.
For more information, contact your KPMG adviser.
Information is current to May 09, 2017. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's National Tax Centre at 416.777.8500