Tax Amnesty Paying Off Again
The dollars are starting to roll in over at the state Franchise Tax Board, where the second year of a popular tax amnesty program could again provide some quick cash for the state's fiscal problems.
You'll remember that lawmakers approved giving taxpayers with outstanding tax bills one last opportunity to pay what they owe, without most penalties and without prosecution. Last year, a program for those who might have abused tax shelters in the past netted $1.2 billion.
This program may not be as profitable, but seems off to a good start. In the two weeks since it began, the amnesty program as brought in $4,904,495.17 from more than 15,000 applications. The program runs through March 31st.
The folks at the FTB say some of those applications for amnesty have come from other countries.
And the oldest tax bill? From 1971.




