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States are finding that tax amnesty programs can generate quick revenue and benefit delinquent taxpayers. This year, states expect to receive more than $1 billion in revenues from their combined tax amnesty programs.
Twelve states have or will offer tax amnesty periods during 2009. Of the states offering 2009 tax amnesty programs, seven have concluded their programs. Six states are currently in a tax amnesty period or will offer one prior to December 31. These states include: Delaware, Louisiana, Maine, Maryland, Oregon, and Virginia.
Tax amnesty programs provide taxpayers with an opportunity to remit delinquent taxes during a specified time period. In exchange, taxpayers realize waived or reduced penalties and interest.
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