E-Alert's prediction that Florida Governor Charlie Crist would sign H.5801, the state's tax amnesty bill, came true last Friday. This law directs the Department of Revenue to develop and implement an amnesty program for various state and local taxes (including, among others, corporate income, sales and use, severance, motor fuel and estate taxes). The program will be in effect for a three-month period beginning on July 1, 2010, and ending on September 30, 2010. The amnesty program would be a one-time opportunity for eligible taxpayers to satisfy their tax liabilities and avoid applicable criminal prosecution, penalties and interest. However, any taxpayer that has entered into a settlement of liability for state and local option taxes before July 1, 2010, would not be eligible to participate. Unlike many amnesty programs, a taxpayer may participate in the Florida amnesty program whether or not the taxpayer is under audit, inquiry, examination or civil investigation initiated by the Department of Revenue.
For more information...follow this link http://bit.ly/d9hvPG
June 7, 2010
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