Tax Amnesty Program Nets $57 Million
Last fall’s 61-day Kentucky tax amnesty program last fall netted the commonwealth almost $57 million. That’s according to figures supplied by the Finance and Administration Cabinet spokeswoman Pamela Trautner. She says more than 27,000 delinquent taxpayers from all 120 Kentucky counties applied for program.
“Now as far as the ones who filed through this tax amnesty, the department will monitor those taxpayers for the next three years to make sure they continue to comply and to pay their taxes because if they don’t there is a clawback provision and all of the interest and fees and penalties can be added back to that taxpayer,” Trautner says.
Tax amnesty was offered between Oct. 1 and Nov. 30. Trautner says total revenue from the program will not be conclusive until the end of the fiscal year, which is June 30.