Tax amnesty: Difference between revisions
Unecessary Politics and POV that has nothing to do with the subject of tax amnesty Tag: references removed |
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==Instances== |
==Instances== |
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In 2009, a federal U.S. tax amnesty was granted to more than 14,700 delinquent taxpayers. <ref>[http://www.nytimes.com/2009/11/18/business/global/18irs.html]</ref> |
In 2009, a federal U.S. tax amnesty was granted to more than 14,700 delinquent taxpayers. <ref>[http://www.nytimes.com/2009/11/18/business/global/18irs.html]</ref> |
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Many U.S. states have had tax amnesties.<ref>[http://www.taxadmin.org/FTA/rate/amnesty1.html State Tax Amnesty Programs<!-- Bot generated title -->]</ref> The City of Los Angeles collected $18.6 million in its 2009 tax amnesty program, claiming that the amount was $8.6 million more than was expected and that businesses saved $6.7 million in penalties. <ref>http://www.flickr.com/photos/37176081@N02/3878906053/</ref> The state of Louisiana brought in $450 million from its 2009 tax amnesty program, three times more than what was expected, according to Republican Governor Bobby Jindal. <ref>http://www.nola.com/business/index.ssf/2009/12/louisiana_tax_amnesty_program_3.html</ref> |
Many U.S. states have had tax amnesties.<ref>[http://www.taxadmin.org/FTA/rate/amnesty1.html State Tax Amnesty Programs<!-- Bot generated title -->]</ref> The City of Los Angeles collected $18.6 million in its 2009 tax amnesty program, claiming that the amount was $8.6 million more than was expected and that businesses saved $6.7 million in penalties. <ref>http://www.flickr.com/photos/37176081@N02/3878906053/</ref> The state of Louisiana brought in $450 million from its 2009 tax amnesty program, three times more than what was expected, according to Republican Governor Bobby Jindal. <ref>http://www.nola.com/business/index.ssf/2009/12/louisiana_tax_amnesty_program_3.html</ref> |
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Revision as of 14:23, 25 February 2010
Tax amnesty is a limited-time opportunity for a specified group of taxpayers to pay a defined amount, in exchange for forgiveness of a tax liability (including interest and penalties) relating to a previous tax period or periods and without fear of criminal prosecution. It typically expires when some authority begins a tax investigation of the past-due tax. In some cases, legislation extending amnesty also imposes harsher penalties on those who are eligible for amnesty but do not take it.[1]
Instances
In 2009, a federal U.S. tax amnesty was granted to more than 14,700 delinquent taxpayers. [2]
Many U.S. states have had tax amnesties.[3] The City of Los Angeles collected $18.6 million in its 2009 tax amnesty program, claiming that the amount was $8.6 million more than was expected and that businesses saved $6.7 million in penalties. [4] The state of Louisiana brought in $450 million from its 2009 tax amnesty program, three times more than what was expected, according to Republican Governor Bobby Jindal. [5]
In a 2007 U.S. Senate bill that did not become law, a tax amnesty for illegal immigrants was proposed on the basis of the impracticality of accurately estimating their back taxes. The tax amnesty was supported by then-president George W. Bush and his Homeland Security Secretary Michael Chertoff.[6]
Outside the U.S., a 2009 Italian tax amnesty yielded €5 billion, and a 2007 Russia tax amnesty program[7] collected $130 million in the first six months[8]. The Russian program was not open to anyone previously convicted of tax crimes such as tax evasion.
References
- ^ The traps in amnesty for taxes
- ^ [1]
- ^ State Tax Amnesty Programs
- ^ http://www.flickr.com/photos/37176081@N02/3878906053/
- ^ http://www.nola.com/business/index.ssf/2009/12/louisiana_tax_amnesty_program_3.html
- ^ Tax amnesty for illegals
- ^ http://www.ey.com/Global/Assets.nsf/Russia_E/Tax&HC_Jan_07/$file/TAX&HC_Jan_07_Eng.pdf
- ^ http://www.tax-news.com/archive/story/Russian_Tax_Amnesty_Yields_130m_xxxx28465.html
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