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Tax amnesty period in Missouri ending soon

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Falling behind on paying one’s state taxes can have many consequences for an individual. For one, it could lead to them being assessed various fees and penalties. These fees and penalties can end up adding up to some pretty big amounts.

Now, there are various options a person who has unpaid state back taxes may have to try to reduce the amount of fees and penalties they will have to pay. One option that is sometimes available is to participate in an amnesty program.

Currently, such a program is active here in Missouri, though it won’t be for much longer. The current program applies to back taxes with due dates that were on or before the last day of 2014. Qualifying individuals who pay back such a tax debt under the amnesty program can avoid fees and penalties on the debt.

The current amnesty program is nearing its completion. When November ends, so too will the amnesty period for this program.

As this illustrates, options for dealing with a state tax debt can have deadlines connected to them. Thus, when a person is looking through what options they have in relation to a state tax debt, it can be important for them to understand which of these options have deadlines and what the deadlines are, so that such considerations can be factored into their decision-making.

Attorneys can provide individuals who owe back taxes with information on the deadlines connected to the various legal options out there and other things that could impact what options a person would be able to pursue, such as the eligibility requirements for the different options.

Source: WGEM, “Missouri tax amnesty period coming to a close,” Jeremy Culver, Nov. 10, 2015

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