Eligible taxpayers include individuals, businesses, estates, and trusts with unfiled returns, underreported tax, or unpaid assessments.
Additional tax liabilities that are eligible include those from a current audit or open resolution, as well as, Appellate Tax Board and collection cases.
Taxpayers who currently have unfiled returns or unpaid liabilities with qualifying tax accounts will be able to apply for the tax amnesty. Non-filers or first-time filers in Massachusetts are also eligible to apply for the program.
It is important to note that eligible non-filers who participate in the program may or may not have a limited three-year look-back period. Taxpayers must submit their outstanding returns and make a full payment of the tax and interest before December 30, 2024.
Massachusetts also offers a voluntary disclosure program, which should be considered by companies that are currently unregistered for the particular tax type. The voluntary disclosure program limits the lookback to three years and allows taxpayers to request a waiver of the penalties; however, it has additional criteria to qualify, such as no previous contact by the Department of Revenue. Due to nuances such as these, taxpayers may find one program more beneficial than the other, depending on the facts and circumstances.
Taxpayers who may have Massachusetts tax liabilities should reach out to our State and Local Tax professionals at RubinBrown about the potential benefits of each program. We are available to provide you with a detailed consultation regarding the application of this amnesty program to your business, evaluate viable alternatives, and assist in preparing any required filings.
Published: 11/06/2024
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