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Department of Revenue releases detailed guidance for corporate excise tax amnesty program

The Massachusetts Department of Revenue released TIR 15-2 specifying the administrative details of the amnesty program authorized by the legislature earlier this year. The amnesty period is open now through May 15, 2015, for eligible taxpayers who owe corporate excise taxes (business corporations, as well as financial institutions, and insurance companies); estate taxes; fiduciary income taxes; … Continue Reading

Massachusetts Enacts Corporate Tax Amnesty to Occur Before June 30, 2015

On Friday, Governor Charlie Baker signed legislation, which is intended to close the budget deficit for the 2015 fiscal year. The full text of the legislation (House Bill 52) is available at the following link. In addition to some spending cuts aimed to cure the budget shortfall, the bill authorizes a corporate tax amnesty program, … Continue Reading

Tax Amnesty Program Becomes Law; Will Be Offered During Fall of 2014

As part of the Fiscal Year 2015 Budget, the Commonwealth has established a tax amnesty program.  The amnesty period will last from September 2 through October 31, 2014.  If a taxpayer pays delinquent taxes during the amnesty period, the Department of Revenue will waive any associated penalties.  The program will cover unpaid sales and use, … Continue Reading
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