Tax Amnesty Up for Consideration
Amnesty could again be granted to Kentucky’s delinquent taxpayers. State Budget Director Mary Lassiter says it’s been ten years since Kentucky last offered such a reprieve. Once the amnesty period expires, Lassiter says delinquent taxpayers will feel the full force of the law.
“If we only had a tax amnesty program..what would happen is we would collect a significant amount of revenue in fiscal 13 and then we would probably have a decline from previously forecasted revenue in 2014..our objective is for that not to happen,” said Lassiter.
Lassiter says the enforcement arm of the revenue cabinet would be beefed up to help bring in more dollars.
“Both additional revenue collection officers..additional auditors…and the software and tools that they need…to increase revenue compliance efforts after the amnesty program,” added Lassiter.
Lassiter says the state hopes to reel in about 61 million dollars over the two year period. She says some 40 states have implemented some form of amnesty since 2002. A tax amnesty must first be approved by the General Assembly.