Monday, the Massachusetts House adopted several tax related amendments to their version of the fiscal year 2015 (July 1, 2014- June 30, 2015) budget. If the House's budget is adopted, one recently-adopted amendment, would create a two-month tax amnesty program for delinquent sales and use tax, pass-through entity withholding, meals tax, and other taxes. The amnesty program would allow taxpayers to settle past-due tax liabilities within the two month amnesty period while avoiding costly penalties.

According to Rep. Brad Jones, the House Republican leader and a sponsor of the amendment, the amnesty program would allow the state to collect past-due revenue that the state would not have collected without amnesty. According to Jones, a similar amnesty program in 2002 brought in over $100 million of taxes to the state.

Reed Smith will keep you posted on any further progress with tax amnesty legislation.

This article is presented for informational purposes only and is not intended to constitute legal advice.