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IOWA TAX AMNESTY UNDER WAY

September 05, 2007

The Des Moines Register reports that the Iowa Tax Amnesty collected $150,000 in back taxes by early in the day yesterday, the first day of the program. Taxpayers have until October 31 to pay back Iowa taxes without penalty and at a special 1/2 interest rate.

It applies to most taxpayers who owe back Iowa taxes. The exceptions:

The program does not apply to taxpayers currently under active criminal investigation, to taxpayers who are part of a criminal proceeding pending in the Iowa court system, or to those with settlement agreements. Amnesty will also not apply if you have a settlement agreement with the department.

You should contact a tax pro if you want to take advantage of the amnesty, but for do-it-yourself-ers, here is an application form.

You can learn more at www.iowataxamnesty.gov.

And for those of you who paid your taxes on time all these years? The State of Iowa says "thanks, chumps!"

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