KENTUCKY (11/16/12) – Time is running out on Tax Amnesty.
Workers in Frankfort at the Dept. of Revenue are logging extra hours to field a flood of calls from delinquent taxpayers. This is the first tax amnesty in Kentucky in the past 10 years, so it’s a unique time allowing taxpayers to come clean with the Dept. of Revenue without paying fees or penalties and having the interest cut in half.
November 30 is the last day to apply. After that, penalties and interest get more severe and collection efforts increase. Since amnesty began Oct. 1, nearly 25,000 calls have been fielded and more than 10,000 people and companies have made payments.
The number of payments is expected to more than double before the deadline ends raising tens of millions of dollars for the Commonwealth.
Information provided by the KY Finance and Administration Cabinet
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