Saying it's received 25,000 phone calls and payments from more than 10,000 businesses and individuals since beginning on Oct. 1, the state's tax amnesty program will end on Nov. 30. Those who owe the state of Kentucky taxes have until the last day of November to apply for amnesty and pay their overdue taxes.
However, if taxpayers fail to take advantage of the amnesty program, penalties get more severe and the interest escalates. An additional 2 percent interest will be charged on unpaid amnesty-eligible taxes. Taxpayers taking advantage of amnesty must remain current over the next three years or face reinstated penalties, fees and interest, according to a news release from the state Finance and Administration Cabinet.
The General Assembly authorized the amnesty program in the 2012 legislative session. Kentucky conducted a similar tax amnesty program in 2002. More than 23,000 taxpayers participated, netting more than $40 million in back taxes.
A state website – amnesty.ky.gov - provides news and information about the program, online payment options and a way to search for all persons and businesses on the delinquent tax roll. Anyone with questions can also call the Tax Amnesty toll-free hotline at 855-KYTAXES (855-598-2937).
The amnesty program applies to taxes owed only to the Kentucky Department of Revenue for eligible tax periods ending after Dec. 1, 2001, and prior to Oct. 1, 2011. While most on the delinquent taxes roll reside in Kentucky, the list includes people in all 50 states plus several other countries.