Colorado Tax Amnesty Program

Colorado has enacted a tax amnesty program for taxes due on or before December 31, 2010. The program begins October 1, 2011 and ends November 15, 2011. All taxes administered by the Colorado Department of Revenue are eligible for amnesty, except the International Fuel Tax Agreement, Passenger Mile Tax, and the International Registration Program. The 2010 Colorado Income tax is not covered under the amnesty, as this was due April 18, 2011. The program is not available to taxpayers who have received a delinquency notice on or before October 1, 2011 or anyone facing criminal investigation.

Under the program, all penalties and half of the interest that would otherwise be due are waived.

To participate, taxpayers must file any documents required by the Department of Revenue and all necessary tax returns or amended tax returns. Taxpayers must pay the full amount of tax due for any period for which the taxpayer elects to take advantage of amnesty. Installment agreements will be accepted, however the full amount of tax must be paid no later than December 31, 2011.

Please contact your Meaden & Moore representative, or Leslie Kasten at 216-241-3272 or if you have any questions regarding this Alert or any other state and local tax matters.