Connecticut Gives Taxpayers a “Fresh Start”
Connecticut- Governor Dannel P. Malloy announced earlier this year a voluntary “Fresh Start” program targeting unreported and underreported tax obligations due by 12/31/16. The program began 7/1/17 and will end 10/31/18. Delinquents would be eligible for reductions in interest and penalties but could forfeit any of the breaks if they fail to comply for the next three years.
“They get certainty. We get money,” said Commissioner of Revenue Services Kevin B. Sullivan. “It’s money we probably would spend years chasing in order to get 100 percent on the dollar. If you owe us $100 million, we’ll take $75 or $80 million. We have to chase every penny.”
For the taxes covered under the Fresh Start initiative, 100% of the penalties will be waived, and 50% of the interest will also be waived. Participants will also get a limited look-back period.
The governor hopes to generate about $90 million over the next two fiscal years combined by reducing charges on tax delinquents. This would mark the sixth tax amnesty program state government has offered since 1990, or an average of one every five years.
To get more information on the program, visit, The State of Connecticut Department of Revenue Services.
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