Thursday, August 18, 2011

The nuts and bolts of tax amnesty

The Colorado Fiscal Policy Institute won a big victory during the 2011 legislative session when a law passed requiring more transparency and accountability around tax credits, exemptions and deductions. Senate Bill 11-184 is an important step toward understanding how the tax code, just like conventional government spending, is used to advance policy goals. Conducting studies costs money, though, and the money to pay for the study will come from a small slice of a limited tax amnesty the state government is offering this fall.

Two documents released today offer important details on tax amnesty.

Colorado Tax Amnesty FAQ
Colorado Civil Tax Penalties and Interest 

They're definitely worth a look if you or someone you know owes back state taxes.

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