News & Events

Rhode Island Tax Amnesty Program

-by Cody Lange, Senior Tax Specialist

Individuals and businesses who owe back taxes to the State of Rhode Island have a rare opportunity to pay their tax debt with a reduced interest rate and will not be subject to penalties. The tax amnesty program provides for a complete waiver of penalties, a 25% reduction in interest rates and an agreement from the state to not pursue civil or criminal penalties.

Tax Amnesty ProgramThe program will run for 75 days from December 1, 2017 through February 15, 2018 and will cover tax periods ending on or before December 31, 2016. The program is open to any taxpayer who either pays the back taxes and interest due or who enters into an installment agreement with the state based on financial hardship.

This new opportunity from the state will allow taxpayers to get up to date with the state on all taxes including personal income tax, sales and use tax, corporate income tax, employer withholding tax, unemployment insurance tax etc. You can view the state’s outline of the program (along with other tax law changes) in the Summary of Legislative Changes.

If you have fallen behind on your state tax obligations and want to take advantage of this opportunity then please contact us at 401-331-0500 with questions you have about this program and for other tax planning strategies.