LANSING (WWJ) – Time is running out for Michigan taxpayers to take advantage of the states 2011 Tax Amnesty program.
Michigan Department of Treasury spokesman Terry Stanton says all excuses are welcome.
“If a taxpayer has a back-tax liability or delinquent tax, one of those, for the return period ending on or before December 31st of 2009, then they can apply for amnesty,” Stanton said.
Stanton told WWJ Newsradio 950 that this could mean big savings for some tax payers. Penalties would be waived for those who pay the full amount of taxes and interest owed by Thursday, June 30.
“That penalty can be upward to 25 percent or more of the taxes due. So, if someone happened to owe $10,000 in taxes, by taking advantage of amnesty, they can end up saving $2,500 or more,” he said.
Stanton said, so far, more than 9,000 Michigan residents have taken advantage of the amnesty program.
Get more information about the program at this link.