FRANKFORT, Ky. (2/23/13) – Initial figures from Kentucky’s Tax Amnesty program show a strong response from delinquent taxpayers. Actual and estimated receipts of $56.9 million slightly exceed the budgeted amount of $56.7 million. However, total revenue attributed to amnesty will not be conclusive until the end of the fiscal year, which is June 30.
“More than 27,000 delinquent taxpayers from all 120 Kentucky counties and all 50 states participated,” said Lori H. Flanery, Secretary of the Finance and Administration Cabinet. “This means we have 27,000 more taxpayers who are now compliant and have come clean with the Commonwealth of Kentucky.”
According to the Department of Revenue, the largest payment under amnesty was $6 million. The average payment was $1,300 for individuals and $3,300 for businesses.
Approximately 1,500 taxpayers, who could not pay their outstanding liability in full before amnesty ended, took advantage of setting up a payment plan. Those payments must be reached in full by May 31 -- otherwise interest, penalties and fees will be added back.
“Our goal with this amnesty program was not only to achieve the amount we projected, but to make it easy for taxpayers to comply,” said Tom Miller, Commissioner of the Department of Revenue. “I am so proud of our staff in Revenue. They worked tirelessly preparing for amnesty, executing the program and now following up.”
A final report on the overall success of the amnesty program will be available soon after the end of the fiscal year. The last tax amnesty program in Kentucky was held in 2002.
Following are additional facts and figures about Kentucky’s amnesty program:
Information provided by Pamela Trautner
Photos provided by SurfKY Graphics
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