The Full Wiki

More info on Tax amnesty

Tax amnesty: Wikis


Note: Many of our articles have direct quotes from sources you can cite, within the Wikipedia article! This article doesn't yet, but we're working on it! See more info or our list of citable articles.


From Wikipedia, the free encyclopedia

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]


In 2009, a federal U.S. tax amnesty was granted to more than 14,700 delinquent taxpayers. [2] FoxBusiness reported on the amnesty without controversy [3], and as of the day after the program ended, FoxNews had done no original reporting on the 2009 tax amnesty program [4], despite generating negative original reporting and commentary on amnesty in the context of immigration law [5].

Many U.S. states have had tax amnesties.[6] 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. [7] 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. [8]

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.[9]

Outside the U.S., a 2009 Italian tax amnesty yielded €5 billion, and a 2007 Russia tax amnesty program[10] collected $130 million in the first six months[11]. The Russian program was not open to anyone previously convicted of tax crimes such as tax evasion.




Got something to say? Make a comment.
Your name
Your email address