Massachusetts launches a tax amnesty program on Nov 1, 2024.
Massachusetts is launching a tax amnesty program on Nov 1, 2024. They have added FAQs to their webpage which you can view here. This program will run for 60 days ending on Dec 30, 2024. Eligible taxpayers can request a waiver of penalties on outstanding taxes and interest paid during the amnesty period.
If you have an eligible existing tax liability, you will receive an Amnesty Eligibility Letter. All you will need to submit for your Amnesty Request is your personal information, the Letter ID, and a valid payment method (e.g., bank account information, credit card).
If you are filing a new return to report a tax due, you will need to complete your return to calculate your amount due. Once completed, you can complete your Amnesty Request using the information from the return. Don’t forget to either e-file or mail your completed return after you submit your Amnesty Request.
If you are filing an amended return to report an increase in tax, you will need to complete your amended return to calculate your amount due. Once completed, you will need to sign on to your MassTaxConnect account to complete your Amnesty Request using the information from the amended return. Don’t have an account? No problem, it only takes a few minutes to register for MassTaxConnect. Don’t forget to either e-file or mail your amended return after you submit your Amnesty Request.
In general, a VDA is better than an amnesty due to its limited look back period. However, this amnesty has one as well making it a great option for those eligible. If you have any questions or would like assistance with this program and have receive an eligibility letter, please contact us at contact@salestaxandmore.com