Texas Amnesty Offers Relief for Corporate Taxpayers

by DMA Staff | Apr 30, 2018
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The Texas Comptroller is currently offering tax amnesty for unpaid or underreported taxes due before January 1, 2018. The Texas Tax Amnesty program is an opportunity to address outstanding tax liability with significant savings – it could help your company avoid 100% of penalties and interest that would otherwise apply.

The risk of a tax delinquency being discovered by tax agents is real and carries with it the added cost of penalties, interest and potential collection fees. By paying the full amount of all taxes, the state will waive all penalties and interest, and will not pursue any potential civil or criminal action.

“This is an excellent opportunity for companies to catch up and wipe the slate clean by filing past due reports and amending reports with underreported taxes. The experts on DMA’s Texas tax team are well-versed with the filing process and stand ready to assist.” states Kevin Koller, Director of Practice Development and prior Assistant Director of Tax Administration for the state of Texas.

Eligible business taxes include all state and local taxes and fees that the Comptroller’s office administers, with the exception of public utility commission gross receipts. The Comptroller does not administer sports and community venue tax or property tax, so these are not eligible. In addition, the Unclaimed Property program and IFTA taxes are not a part of the amnesty program.

This program is only available to companies who did not file a required return or report originally due before January 1, 2018, or who underreported taxes or fees due for any reason (such as erroneously claiming credits or deductions). Filing periods under audit or identified for an audit are not included in the amnesty program, including signed settlement agreements and voluntary disclosure agreements.

Click here to request more information about the Texas Tax Amnesty Program and to learn how DuCharme, McMillen & Associates can assist your tax team.