Jun 01, 2015
From KPMG TaxWatch
On May 20, 2015, Oklahoma Governor Mary Fallin signed legislation (House Bill 2236) establishing a voluntary compliance initiative to run from September 14, 2015, through November 13, 2015. The initiative essentially operates as a tax amnesty program wherein taxpayers that pay the eligible taxed owed can receive a waiver of penalties, interest and other fees. Tax types eligible for amnesty under the Voluntary Compliance Initiative include mixed beverage tax, gasoline and diesel tax, gross production and petroleum excise tax, sales and use tax, income tax, withholding tax, and privilege tax. All eligible taxes must have been due and payable for any tax period or periods ending before January 1, 2015. Eligible taxpayers will receive a waiver of penalties, interest, and other collection fees or costs (other than collection agency costs if amounts are paid to a collection agency) due on eligible taxes. The Tax Commission’s authority to launch the initiative is subject to the availability of funds required to carry out the program. Please contact Brian Culvey at 713-319-3831 with questions on Oklahoma’s Voluntary Compliance Initiative.
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The following information is not intended to be "written advice concerning one or more federal tax matters" subject to the requirements of section 10.37(a)(2) of Treasury Department Circular 230.
The information contained herein is of a general nature and based on authorities that are subject to change. Applicability of the information to specific situations should be determined through consultation with your tax adviser.