Washington businesses behind on their taxes are reminded the clock is ticking on a first-ever temporary tax amnesty being offered by the state. The plan would allow the estimated 50,000 businesses that owe back taxes to pay off the balance, but avoid any late fees or penalties.
With the state looking for available funds wherever it can, the department of revenue says the amount of unpaid business taxes is running up around $184 million. The amnesty would bring in some of those outstanding dollars while offering a bit of relief to businesses in a tough economic year.
To take advantage of the amnesty program, businesses must submit an application by April 18, and taxes due must be paid in full by April 30, 2011. Businesses can find complete program details and the program application at www.paymytax.org.