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Fri November 30, 2012
Officials Say Tax Amnesty Program Will Hit Revenue Goal
Kentucky’s latest round of tax amnesty is coming to a close and state officials say the program has been a success. Beginning last month, the state offered tax delinquents a chance to pay what they owe and a portion of the related penalties without fear of further punishment or prosecution. Lawmakers hope to collect $55 million before the program ends at 9 p.m. Friday. Department of Revenue Commissioner Thomas Miller told lawmakers Thursday that his office has recovered tax revenue from people in all 120 counties of the Commonwealth and in all 50 states.
“The biggest thing I want to tell you is that I am very confident that we will hit our estimated target that was set in the budget last session,” Miller says.
But Miller says state officials likely won’t know what the final total is for a few months, due to the last-minute rush expected in the coming hours.