Massachusetts Hopes Tax Amnesty Program Will Bring in $100 Million

The Massachusetts Department of Revue has announced a tax amnesty program that allows tax scofflaws to settle past-due accounts without penalties for being late.

It's a short window of opportunity for anyone interested in taking advantage of it.

The tax amnesty program is a win-win because it allows DOR to collect outstanding tax debt without paying someone to chase it down. It also allows delinquent taxpayers to pay up while avoiding penalties and fines.

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According to the Department of Revenue, "The amnesty program will allow non-filers and taxpayers with outstanding tax liabilities to catch up on back taxes and save on penalties."

Even though the penalties will be waived, you will be responsible for interest on your outstanding tax debt.

"The program aims to bring into compliance those who have failed to file returns or have unpaid assessments," the DOR said.

"I urge individuals and businesses to take this opportunity to voluntarily pay their back taxes and interest beginning November 1," Commissioner of Revenue Geoffrey Snyder said. "The program is a significant step to help taxpayers come into compliance, including non-filers."

The tax amnesty program will run from November 1 through December 30, 2024.

The Department of Revenue hopes to generate $100 million through tax amnesty. Money collected will be added to the Commonwealth's general fund.

Not everyone is qualified to participate in the tax amnesty program, including those in active bankruptcy.

For eligibility information and information on how to participate in the tax amnesty program visit the Massachusetts Department of Revenue website.