Massachusetts has announced a new tax amnesty program that will run from Nov. 1 through Dec. 30, 2024. The program will allow taxpayers with outstanding tax liabilities to pay back taxes and interest without penalties.
Eligibility for the amnesty program extends to individuals, businesses, estates, and trusts. Taxpayers with outstanding liabilities due to audits, assessments, or appeals are also eligible, as are those with unfiled returns. Taxpayers are not eligible if they participated in the prior amnesty program in 2015 and 2016, or if they are in bankruptcy or under criminal investigation. Most taxes are eligible for amnesty and include, but not limited, to corporate excise tax, marijuana retail tax, personal income tax, and sales tax. See a complete list of eligible taxes at https://www.mass.gov/info-details/ma-tax-amnesty-2024-eligible-ineligible-account-tax-types.
Eligible taxpayers will receive an amnesty eligibility letter from the Massachusetts Department of Revenue. The Department will also launch a webpage dedicated to amnesty on Nov. 1, which will allow taxpayers to complete an amnesty request. Non-filers who are not registered with the Department and who have not been contacted by the Department are also eligible to apply for amnesty. Non-filers will also be eligible for a limited look-back of three years, from Jan. 1, 2022, through Dec. 31, 2024.
The Massachusetts Department of Revenue webpage includes the amnesty announcement and links to FAQs and other resources at https://www.mass.gov/news/massachusetts-tax-amnesty-2024-announced.
If you have questions on the tax amnesty or other state and local tax (SALT) matters, contact HBK’s SALT advisory group at hbksalt@hbkcpa.com.
"*" indicates required fields