Tax Amnesty in Missouri Has Been Signed into Law

If you owe back taxes to the state of Missouri and you are being assessed interest and penalties, you may now be entitled to Tax Amnesty. Missouri Governor Jay Nixon just signed into law bill HB 384 on April 27, 2015, which authorizes amnesty from all penalties, additions to tax, and interest on unpaid taxes prior to December 31, 2014. This is a huge relief to taxpayers who owe penalties and interest on their back taxes to the state of Missouri.

As with most amnesty bills, the taxpayer will not be granted amnesty if they are subject to any civil or criminal litigation that is pending for nonpayment, delinquency or fraud. If a taxpayer is interested in receiving amnesty, they must apply for it and pay their unpaid taxes between September 1 and November 30, 2015. In addition, they must agree to comply with state tax laws for the next eight years. Once the taxpayer is granted amnesty, they will not be eligible to participate in any future amnesty for the same type of tax.

The money received from this amnesty bill must be deposited into a newly created fund called the Tax Amnesty Fund. These funds will be used to help fund Missouri health care provider reimbursements and to expand Missouri’s dental coverage under Missouri Health Net.

So what should you do next? If you think you will be eligible for this amnesty program, contact an Anders advisor for more information and how to get started with this process.