People fall behind on their taxes – no one is perfect. However, you have the opportunity to do what’s right for New Hampshire and free yourself from outstanding taxes. Here’s how:
Between now and February 15, 2016, individuals and businesses have the opportunity to pay any outstanding taxes without penalty and with 50% of accrued interest through the New Hampshire Department of Revenue Administration’s (DRA) Tax Amnesty Program.
For example, if you owe $1,600 in Business Taxes from last year that were due on April 15, 2014, the total owed has jumped to $2,293.27 after penalties and interest. Under the Tax Amnesty Program, you now only owe $1,666.64 – a savings of over $600!
A similar scenario would occur for those owing past due Interest and Dividends payments. If you failed to pay a $1,000 Interest and Dividends Tax due in April 2013, you owe DRA a total of $1,483.44, between the original bill and penalties and interest. Utilizing the Tax Amnesty Program, you would pay $1,066.72, saving a total of $416.72.
Don’t know what you owe? An online interest calculator is available on the DRA website at http://revenue.nh.gov/amnesty/tax-calculator.htm.
Want to learn more? Visit http://revenue.nh.gov/amnesty or call Central Tax Services at 603-230-5920.
NH’s Tax Amnesty program is a rare opportunity that ends on February 15th. Avoid a portion of interest and penalties, settle up, and do what’s right for New Hampshire.