The Texas Tax Amnesty Program application period ends June 29, 2018. This program provides delinquent taxpayers with relief from penalties and interest on tax due. Tax amnesty applies to periods prior to Jan 1, 2018 and only includes liabilities that have not been previously identified as due by the Comptroller. It does not apply to periods currently under audit, IFTA taxes, PUC Gross Receipts assessments, Local Motor Vehicle Tax and Unclaimed Property payments.
Sales and use taxes may be due from unregistered businesses, taxpayers who have under-reported prior periods, or consumers who have not self-remitted use tax due on purchases. These taxes can be remitted during the amnesty period May-June without penalty.
Tax amnesty does not prevent the state, however, from auditing the periods remitted, nor does it prevent the state from examining records from prior periods. If a business has a long history of amounts due from prior periods, that business may want to look into a Voluntary Disclosure program as an alternative to taking advantage of the tax amnesty period.
State Tax Advisors can assist in applying for this program, as well as providing a pre-analysis of liability. Contact us at 281-358-1060 or through our website www.StateTaxAdvisors.com.