Missouri will offer a tax amnesty period from September 1 to November 30. Tax amnesty provides individuals and businesses with a one-time opportunity to pay back taxes that were due prior to December 31, 2014 without having to pay interest or penalties.
Michelle Gleba with the Department of Revenue said eligible Missourians will be notified.
“We’re planning to send out direct mailings to taxpayers and businesses in mid-August,” said Gleba. “They can complete the amnesty-eligible notice, which will show them the amount they owe, as well as the amount they would save in interest and penalties.”
“If you participate in tax amnesty, you must also agree to comply with state tax laws for the next eight years and agree to be excluded from future amnesty programs,” said Gleba.
Approximately $60 million in Missouri taxes have not been collected and Gleba the state’s goal is to collect what’s owed. House bill 384 says the money collected will go toward a tax amnesty fund that will be administered by the State Treasurer.
Tax types eligible include individual or corporate income tax, corporate franchise tax, employer withholding tax, sales tax, consumer’s or vendor’s use tax and fiduciary tax.