Amnesty Program Nets $180 Million in Back Taxes
The Department of Revenue Services said it collected almost $180 million in back taxes through a two-month-long amnesty program. That's far in excess of the $35 million it set as a goal at the beginning of the amnesty.
Department officials said about 10,000 individuals and businesses participated, including a $21 million back payment from a corporation.
Those who took advantage of the amnesty got a 75 percent break on interest owed on their delinquent taxes, and many penalties were also waived. If that was not enough incentive, those who do not pay during the amnesty period will see their interest penalty jump from 10 percent to 25 percent.
The Connecticut Mirror's Keith Phaneuf broke down who took advantage of the amnesty period:
- $91.3 million from 65 corporation taxpayers
- $55.5 million in sales taxes from 2,633 businesses and individuals
- $21.4 million in delinquent income taxes from 5,172 businesses and individuals
- $6.8 million in other state taxes from 1,927 taxpayers
DRS Commissioner Kevin Sullivan said the results of the exercise illustrate how many people and businesses were affected by the recession.