Business Tax Amnesty Ends August 17
by: Andrew Schneider, August 12, 2012 11:08:00 pm
The Fresh Start amnesty covers taxes and fees originally due before April first of this year. It applies to sales tax, franchise tax, and other state or local taxes or fees.
RJ DeSilva is a spokesman for the Texas Comptroller’s office.
“One of the main purposes behind this is to allow businesses to clear up their tax records, because in subsequent future audits, if businesses are found to have not paid their taxes or underreported taxes, then they would not only face the prospect of having to pay the taxes but also penalty and interest.”
The amnesty does not apply to filing periods that businesses currently have in audit.