New York – Tax Amnesty Program Nets $530 Million

New York – A tax amnesty program in New York state has exceeded the half-billion dollar mark.

The state’s Department of Taxation and Finance said Wednesday that the program has collected $530 million so far from nearly 9,000 taxpayers.

Individuals participating in the program can avoid penalties, fines and the threat of prosecution if they agree to pay their back taxes and promise to pay them going forward.

State tax Commissioner Thomas Mattox says the program has collected more than $100 million each year since it was started in 2008.

Debts for any state tax are eligible for amnesty.

Those who can’t afford to pay their entire tax debt may apply for a payment plan.