Amnesty:
Connecticut: New Law Includes Tax Amnesty Program with Potential Waiver of Penalties and Reduced Interest
S.B. 1202, signed by gov. 6/23/21; H.B. 6689, signed by gov. 6/23/21. New law requires the Connecticut Commissioner of Revenue Services to establish a Connecticut tax amnesty program that must be conducted during the period from November 1, 2021 through January 31, 2022, and which will apply to most taxes that the Connecticut Department of Revenue Services administers for taxable periods ending on or before December 30, 2020, with some exceptions. In exchange for participating, qualifying taxpayers potentially may receive a waiver of all underlying penalties and a 75% reduction in interest. Under the new law, “in no event shall an amnesty application result in a refund or credit of any amount of tax, penalty or interest previously paid.”
See forthcoming Multistate Tax Alert for more details on this amnesty program, and please contact us with any questions in the meantime.
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