For businesses and individuals who have not paid their taxes, this week is the time to do so.
Only a few days remain to take advantage of Louisiana Tax Amnesty 2014; it ends Friday, Nov. 14. Rep. Gene Reynolds, District 10, said this gives people a chance to pay outstanding taxes without any punitive damages.
“It was pretty successful last year,” he said. “It has been helpful in raising revenue (for the state).”
The Louisiana Department of Revenue will waive all applicable penalties, along with 50 percent of accrued interest, when taxpayers pay 100 percent of their tax balance, said Secretary of Revenue Tim Barfield.
“We encourage anyone who has fallen behind on their taxes to look into the amnesty program before the opportunity ends,” Barfield said.
The program offers delinquent taxpayers a chance to pay their taxes over a six-month period if eligible.
According to Act 822, there will not be another opportunity like this until at least 2025.
For more information, visit www.ldrtaxamnesty.com or call 1-866-782-9241.