Tax Amnesty Program Results Released

The results of Connecticut's recent tax amnesty program are being released.

Department of Revenue Services Commissioner Kevin Sullivan is scheduled on Monday to reveal the details of the amnesty, which took place from Sept. 16 to Nov. 15. A news conference is planned.

Both businesses and individuals were given an opportunity to pay back taxes owed to the state of Connecticut with a 75 percent reduction in interest. They also were able to avoid the typical penalties for any period ending on or before Nov. 30, 2012.

Connecticut officials hoped to collect more than $35 million in unpaid back taxes to help balance the state budget.

DRS has estimated that 80,000 taxpayers owe about $400 million in back state taxes, while another 80,000 have underreported or not filed a return.

Copyright AP - Associated Press
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