The Louisiana Department of Revenue (LDR) has announced that their upcoming state tax amnesty program, starting November 16th, 2015 and ending December 15th, 2015, will be the last tax forgiveness program for the state until 2025.
What is the Louisiana Tax Amnesty Program?
The Louisiana Tax Delinquency Amnesty Act allows both individuals and businesses with outstanding tax debts a 30-day window to come into compliance with state tax law.
You (or your business) may be eligible for this tax forgiveness program if you match any of the following:
- You failed to file a tax return;
- You failed to report all sources of income or pay owed tax interest/penalties;
- You claimed incorrect credits or deductions when filing;
- You misrepresented or omitted any owed taxes; or
- You are under audit or administrative/judicial litigation (certain cases, but not criminal investigation/litigation).
Those who decide to enter Louisiana's state tax amnesty program must pay 100% of their owed taxes, 83% of owed interest, and 67% of due penalties. While the Louisiana forgiveness efforts do not seem to be as forgiving as say, Indiana's State Tax Amnesty program, it may still aid those wanting to resolve their tax problems once and for all.
Not covered by Louisiana's initiative
- Motor fuel taxes;
- Prepaid cell phone sales taxes;
- Oil field restoration (gas and/or oil);
- Inspection and supervision fee; and
- Penalties for not submitting reports based on the underpayment of taxes (e.g. Louisiana's Form L-3).
Need assistance with a state or federal tax issue? Contact us here, call us at 888-727-8796, or email us at info@irsmedi.com.
