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October 30, 2007

The Iowa Tax Amnesty ends tomorrow. The Cedar Rapids Gazette reports that 3,000 taxpayers have taken advantage of the program, paying over $5 million in back taxes. The state is counting on $16 million in revenue from the program for the current fiscal year budget.

Delinquent taxpayers using the amnesty avoid prosecution and penalties, and pay only half the normal interest rate. Those who pay their taxes on time every get a big "Thanks, Chump!" from the state.

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I think the state overestimates the people they are targeting. In my experience, if you haven't gotten your act together to file for ten years, you can't get your act together in time to take advantage of tax amnesty.

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