Florida Legislature in 2010 passed the amnesty program allowing tax payers who have failed to pay sales tax an opportunity to pay without being criminally prosecuted and with the ability to reduce the interest expense on late payments.
The amnesty program is effective July 1, 2010 and runs through September 30, 2010. Anyone can take advantage of this program even if they are currently under audit inquiry, examination or civil investigation.
This amnesty program also applies to a company or individual who is under an investigation initiated by the Department of Revenue without regard to whether the amount due is subject to a pending administrative or judicial proceeding.
If the taxpayer is subject to audit, the taxpayer still benefits from the amnesty program. The taxpayer will pay 75% of the interest due and the full amount of sales tax due.
If the taxpayer is not under audit inquiry, examination, civil investigation or a pending administrative or judicial proceeding, the taxpayer must pay the full amount of tax and 50% of the accumulated interest.
In addition, there will be no penalties imposed on a tax paid pursuant to the program.
This amnesty program presents an opportunity for individuals to avoid criminal prosecution and to save penalties and reduce interest payments.
Because the amnesty program ends on September 30, 2010, anyone who owes sales tax should consult with an attorney quickly.