On June 30th, the Governor of Nevada announced the 2010 Tax Amnesty Program that ends on September 30, 2010. The program was authorized by the Nevada Legislature and signed into law by Governor Gibbons. For eligible taxes due and payable to the Department prior to July 1, 2010, the program provides for a one-time waiver of penalty and interest if the outstanding tax liability is paid in full during the amnesty period.
Nevada Tax Amnesty Program And The Ticking Clock
The tax amnesty only affects Nevada State taxes and not Federal taxes like IRS payroll tax debts and back income taxes. The problem is when an amnesty is announced, everyone with a tax problem, whether it is state or federal, seems to breathe a sigh of relief. If you have serious income tax debts or your business has been spending the trust fund and missing payroll tax payments, you should not be relieved. This state amnesty has no effect on your problems. If you want to find real IRS tax relief, contact the Tax Resolution Institute today and we can begin to find a resolution to your tax debt crisis.
Since Nevada has no state income tax, the amnesty only effects very specific tax debt problems. The tax types included in the amnesty program are as follows: Sales & Use Tax, Modified Business Tax, outstanding Business License fees payable to the Department due on or before September 30, 2009 (The Secretary of State now administers the business license fee), Cigarette Tax, Other Tobacco Products Tax, Liquor Tax, Bank Branch Excise Tax, Insurance Premium Tax, Tire Tax, Live Entertainment Tax (non-gaming), Short-term Lessor (Passenger Car), and Exhibition Facilities Fees, Property Tax that are Centrally Assessed, and Net Proceeds of Mineral Tax.
The Weight of IRS Tax Debt Problems
Although the clock is ticking on being able to take advantage of the Nevada Tax Amnesty Program, it is ticking even louder for Nevada residents with serious IRS tax problems. Please remember that the IRS never forgets. As the largest collection agency in the world, IRS debts always continue to accrue penalties and interest. In other words, that is one expensive clock and it has your name on it. Your personal income tax problems and your company’s payroll tax debts with the IRS will never just go away. If you want to find real IRS tax relief, contact us today for the very best in tax resolution services.
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