RI tax amnesty raises $8.7M with 1 week to go
PROVIDENCE, R.I. (AP) — Rhode Island’s tax amnesty program has generated $8.7 million so far, with one week to go before the grace period ends.
The state Division of Taxation says it has received 3,750 applications since the amnesty period began Sept. 2.
Under the program, penalties are waived for those who submit past-due returns with their taxes owed. Interest on the owed amount is reduced by 25 percent. The state also agrees not to pursue civil or criminal actions and is allowing taxpayers to renew any licenses that have lapsed.
The program ends Nov. 15.
State Tax Administrator David Sullivan said he expects a ‘‘surge’’ in applications during the amnesty’s final week.