(Undate) - Kentucky tax delinquents are being given a chance to make things right with the state.
Governor Beshear unveiled a new tax amnesty program on Monday. Those who owe back taxes from December 2001 to October of last year can apply to pay their back taxes without penalties, fees, or interest. The application period is open through November 30.
“This is a great way to add significant revenue to the state budget in a short amount of time,” said Beshear. “Offering amnesty also helps responsible taxpayers who’ve faced tough times and want to get out of trouble a way to meet their obligations and save them significant money. They can pay now or pay more later.”
The governor’s office said a current state database shows nearly 170,000 individuals and businesses qualifying for tax amnesty.
Each individual and business taking advantage of Kentucky’s tax amnesty will save an average of 30 percent of what they would otherwise be charged, state officials said. The average delinquent taxpayer in Kentucky owes about $5,000, while the average tax debt for a delinquent business is $25,000.
Kentucky taxpayers can find more information on the amnesty program at www.amnesty.ky.gov or by calling 855-KYTAXES (855-598-2937).