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RICHMOND — Between Feb. 1 and March 31, the Commonwealth of Virginia is offering amnesty to individuals and businesses owing back taxes.
The Virginia Tax Amnesty Program, authorized by the 1989 General Assembly and administered by the Virginia Department of Taxation, will give people a one-time opportunity to avoid penalties and fear of criminal or civil prosecution by paying all taxes and interest due. All taxes administered by the Virginia Department of Taxation are eligible for tax amnesty, including sales, use, individual and corporate income, withholding, agricultural and miscellaneous taxes.
“The Virginia Tax Amnesty Program is an opportunity to clear up any state tax delinquencies before tax penalties and enforcement efforts increase,” said William Forst, Virginia Tax Commissioner. Forst notes that after Jan. 1, 1990, penalties on delinquent individual and corporate income taxes will increase from a maximum 15 1/2 percent to a maximum penalty of 25 percent of the total tax bill. In addition, a 100 percent corporate income tax fraud penalty will be added.
Post amnesty tax enforcement also was strengthened by the General Assembly. “After amnesty, the Commonwealth will have greater authority to close businesses that fail to pay their taxes,” added Commissioner Forst. “After due process
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