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Tue April 26, 2011
State of Michigan on unpaid taxes... "All excuses welcome"
People and businesses that owe back taxes to the state of Michigan have until June 30th to pay up without paying fines and penalties.
There are potentially hundreds of thousands of people and businesses that owe the state unpaid taxes.
The state hopes to net $90 million dollars from the tax amnesty program.
State Treasurer Andy Dillon says if you owe, now is a good time to pay:
"It doesn’t matter why you didn't pay your taxes – the penalties can be forgiven. And the penalties can be quite stiff. It depends on the tax that you’re talking about, but it can be as much as 25% of the liability that can be forgiven, and the sooner you pay it off, the sooner you stop paying interest on that obligation."
This is the third time since the 1980s the state’s offered amnesty to people and businesses with unpaid back taxes.
The program requires payment of all back taxes plus interest.
The amnesty program was approved by the Legislature last year to find some new revenue to help balance the budget.
The Michigan Tax Amnesty website declares "all excuses welcome."
Here's the program's TV spot:
May 3rd Election