A reminder that the Texas tax amnesty program, “Project Fresh Start,” concludes two weeks from today on Friday, August 17, 2012.
"Project Fresh Start" is available from June 12 to August 17 of this year. This program provides for waiver of penalty and/or interest in exchange for taxpayers voluntarily reporting their tax liabilities. The purpose of the program is to encourage taxpayers that did not file tax reports, made an error on a previous report, did not have a permit for collecting and remitting Texas taxes, or otherwise did not pay the full amount of taxes owed to voluntarily come forward and take advantage of the penalty and interest waiver. Taxpayers can obtain this relief for all tax types, excluding Public Utilities Commission gross receipts assessments, unclaimed property and all taxes administered by local taxing units (e.g., property tax). The program does not apply to established tax liabilities or to taxpayers currently under audit review. More information about “Project Fresh Start” can be found here.
IRS Circular 230 Disclaimer: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. federal tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.