PROVIDENCE – The R.I. Division of Taxation on Wednesday announced the details of a 75-day tax amnesty that will begin on Dec. 2.
The tax amnesty will remain in effect until Feb. 15 for the approximate 90,000 taxpayers with account balances for any taxable periods on or before Dec. 31, 2016.
The amnesty will waive penalties and reduce the interest on payments by 25 percent for taxes paid, even for payments that either the R.I. Division of Taxation missed or were not reported. The division will also not seek civil or criminal prosecution for the taxable period for which amnesty has been granted.
“The start of amnesty is still more than two months away, but we want to let tax professionals and taxpayers know that we are well along in our planning and in our preparations,” said Rhode Island Tax Administrator Neena S. Savage, who oversees the Division of Taxation, which is part of the R.I. Department of Revenue.
More information on the tax amnesty period will be available at the official amnesty website. The website is currently under construction but will be updated to include the tax amnesty form.
Officials plan to send account statements to those with balances in early November. The division will accept applications starting Friday, Dec. 1.