Getting the money in

The tax amnesty programs I referred to in my previous post are all geared to getting cash in the door at the various states.  Then, for some states, depending upon the amnesty program, to create future tax revenues by having previous nonfilers on the the tax rolls.

All states are dealing with tight budgets, if not budget reductions or potential bankruptcy, and any way to get the money in is being looked at.  The DC amnesty program which is geared toward current tax bills, not nonfilers, is expected to bring in $120 million of receipts for the 2010 budget and $170 million overall.

These are all viable solutions for taxpayers who want to/will be paying the tax anyway--they can at least avoid penalties on the late payments and in some cases part of the interest due.  There is no program that reduces the actual amount of tax due.  But be care with the dates, any late filing for these programs and you're out of luck.