Do you owe money to the State of Arizona? If you do, you can minimize that amount by taking advantage of a new tax recovery program!
On March 12, 2015 the State of Arizona passed Senate Bill 1471 to establish a tax recovery program for the Arizona Department of Revenue. The program will begin September 1, 2015 and continue through October 31, 2015. During this period, all taxpayers who meet the application requirements will be eligible to have their civil penalties and tax interest associated with their tax liabilities for any period before January 1, 2014 for annual filers and February 1, 2015 for all other filers reduced or waived. Taxpayers who apply for the tax amnesty will not, however, be eligible for any refunds or credits that would reduce their tax liability for the taxable years to which they are applying.
How to apply:
1. Fill out an application from the Arizona Department of Revenue and include any returns and reports for the taxable periods for which you are applying. If you have insufficient information to complete a full income tax return, you may qualify by completing a gross income tax return.
2. If you already have an established tax liability, include the most recent notices or other related documentation you have received.
3. File during the amnesty period and include a payment for the tax due.
For more information: http://www.azleg.gov/legtext/52leg/1r/bills/sb1471s.pdf
By Amber White