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Speaking of snake oil, the Iowa Senate yesterday approved the Governor's tax amnesty plan, SF 580, 48-2. Before approving the plan, the Senate rejected efforts to add provisions increasing penalties for nonfilers and frivolous returns. Most amnesty plans are paired with such penalties as part of a "carrot and stick" approach. Leaving out the stick makes it clear that this is just a revenue-raising gimmick with no follow-up to discourage future non-filers.
Two legislators bucked the crowd and took a stand for the taxpayers who don't need an amnesty to pay their taxes: Jerry Behn of Boone County and David Harsuch of Scott County.
Prior coverage: WAYS AND MEANS VOTES TO SCHMUCK IOWA TAXPAYERS
Follow the progress of all 2007 Iowa tax legislation at our 2007 Iowa tax legislation page.
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Joe Kristan writes the Tax Update items, and any opinions expressed or implied are not neccesarily shared by anyone else at Roth & Company, P.C. Address questions or comments on Tax Updates to