Tax Amnesty Program for Texas

Posted in Tax News

If you’ve ever failed to file a Texas tax report, underreported tax on a previously filed report, or operated a business without a tax permit, you may be able to get back into tax compliance without having to pay penalties and interest.

The Texas Comptroller’s office is offering a limited tax amnesty program called Fresh Start. Not every back tax is eligible (notably property tax and any federal tax) but all the state-level taxes like sales & use and franchise taxes, along with another 60 or so taxes the Comptroller’s office administers, are included in the program.

Participating in the program is fairly easy: figure out how much you owe in back taxes (you can even call and they’ll help you calculate), then file your delinquent tax reports or update your underreported returns. You’ll still need to pay the back taxes owed but any penalties and interest (which can add up) won’t be assessed so long as you complete your filing and paying by August 17, 2012.

There are some other restrictions, so be sure to check our the Fresh Start site at http://www.freshstart.texas.gov/