Due to the recession and budget issues, many states are turning to amnesty programs to rake in some extra cash. Amnesty programs give those who owe back taxes a chance to pay off their debt without all the interest and penalties. The following states (and even one city) have instituted amnesty programs for 2010. Before applying for a tax amnesty program you should consider your ability to file all the required paperwork and pay all the required taxes, including any adjustments you may need to make on your federal tax returns.
- Florida will hold a tax amnesty program from July 1, 2010 through September 30, 2010
- Kentucky passed a limited amnesty program that ends on July 30, 2010
- Maine's tax amnesty program runs from September 1, 2010 through November 30, 2010
- Massachusetts has an amnesty program that is limited to businesses which begins April 1, 2010 and ends June 1, 2010
- Minnesota is holding an amnesty program for people who have used foreign bank accounts and foreign business entities to evade state income taxes
- New Mexico's amnesty program for both individuals and businesses begins June 7, 2010 and ends September 30, 2010
- Nevada will conduct a tax amnesty program between the dates of July 1, 2010 and September 30, 2010
- Pennsylvania's tax amnesty program begins April 26, 2010 and ends June 18, 2010
- Philadelphia has a tax amnesty program that runs from May 3, 2010 to June 25, 2010