Michigan Tax Amnesty Program: June 30 Deadline Looms
Do you owe back taxes as either an individual or business owner? How would you like t 00004000 o repay those back taxes with no penalties? That sounds like it’s too good to be true, but that is exactly what the State of Michigan is offering with the Michigan Tax Amnesty Program.
Due to the ongoing budget issues, and the current economic recession, the Michigan state government is offering this amnesty program to help individuals and small businesses alike. All Amnesty participants will have all current civil and criminal penalties waived. Also, unlike other amnesty programs, failure to participate in this program will not result in further penalties. But the question would be: Why would you not take advantage of this rare offer?
The main requirement to be eligible for the Michigan Tax Amnesty Program is the tax debt owed must have occurred before December 31, 2009. All state taxes administered under the Revenue Act (PA 122 of 1941) are eligible for amnesty, including Income Tax, Michigan Business Tax, Sales Tax, Use Tax, Withholding Tax, and others (for full list click on link at bottom of page). Property taxes are not eligible for the Michigan Amnesty Program
The tax debt must have occurred by any of the following: failure or refusal to file Michigan State Tax returns, failure to pay owed Michigan taxes, or filing an excessive refund claim. Whatever the reason for the above mentioned it does not matter. This is a great chance to reduce the stress and burden that can arise from owing back taxes.