There’s still plenty of time to file your taxes, but if you owe the state money, another deadline is fast approaching.
Connecticut’s 2021 tax amnesty program will end at the end of this month. The program gives people the ability to repay their taxes with reduced interest rates and without penalties.
“We know times have been tough and tough with coronavirus, all sorts of things are happening, but this is just an opportunity to do the right thing and pay your taxes,” Commissioner Boughton said. .
The DRS launched the 2021 Tax Amnesty Program in November last year to help individual filers and businesses repay their taxes.
“You can even set up a payment plan, just give us a call. The most important thing is to communicate with us,” Commissioner Boughton said.
The program reduces interest rates by 75%.
“I just settled the case where they owed us from the early 2000s,” Commissioner Boughton said. “It was $1.6 million. Using this program, we brought it down to about $700,000, we wrote a check right away, and they’re all good with the state. So those are the kinds of things we can do with this program in place.
The program also waives penalties and the possibility of criminal prosecution for anyone who underreports, owes money, or does not file at all.
“There have been longstanding disputes over what people owe for decades,” Commissioner Boughton said. “Let’s say you’ve never filed, you know, about 30% of the people there have never filed taxes. So here is another opportunity. We may owe you money! We can give you a check when this is all done.
The deadline for the program is January 31. The state legislature determines the fixed period for the DRS to collect any unpaid tax debt. Commissioner Boughton says it’s time to act.
“They get on well with the state, they don’t have to worry about liens, audits, criminal charges or anything like that. They just pay what they owe,” he said.
DRS reports that since November, 10,000 people have used the tax amnesty program. It made nearly $40 million for the state.
This money goes to a myriad of services, including education, child care, vaccination clinics, public safety, parks, beaches, the arts and more.
“We are doing great things with this money,” Commissioner Boughton said. “We pay for police officers, firefighters, teachers, all kinds of important services that people need, that’s why we should pay our taxes and why it’s so important.”
DRS says they won’t be doing similar programs any time soon. If you want to use the 2021 tax amnesty program, visit getrightCT.com.