The 2017 PA Tax Amnesty Program will provide $114.5 million for the 2016-17 fiscal year budget, exceeding the $100 million net revenue estimate, the Department of Revenue announced Wednesday.
“By running the tax amnesty program efficiently, the department will provide more revenue than expected for the general fund,” said Secretary of Revenue C. Daniel Hassell. “The temporary program enabled tens of thousands of individuals and businesses to settle their state tax debt and make things right with the Commonwealth.”
Act 84 of 2016 authorized a tax amnesty that waived all penalties and half of the interest for eligible individuals or businesses that applied to the program and paid delinquent state taxes between April 21 and June 19, 2017.
A 5 percent penalty will be added to the accounts of taxpayers who were eligible for the program, but did not participate.
The preliminary tax amnesty collections totals may be revised slightly in the coming weeks.
NewsClip:
