Connecticut’s coffers are at least $175 million richer Monday after a two-month tax amnesty program – way more than was anticipated perhaps because failing to pay up this time also could land delinquents in jail, authorities say.
Delinquents coughed up between $175 million and $180 million what they owed the state during the program that ran from Sept. 16 to last Friday, the state Department of Revenue Services announced.
The state offered to waive penalties and reduce accrued interest to individuals and businesses who voluntarily stepped forward to pay what they owed, officials said.
Revenue Services Commissioner Kevin B. Sullivan said the state had expected the latest amnesty off to generate $35 million in collections. The excess funds collected will likely be used to restore the rainy day fund, officials said.
Past amnesty programs have yielded various amounts, including $25 million in 2009, $109 million in 2002, $46 million in 1995, and $54 million in 1990, the agency said.
The 2013 program differs from past programs due to stiff penalties for not coming forward during the amnesty period, including a 25 percent penalty and possible criminal prosecution, officials said.
Delinquent taxpayers are now responsible for all penalties as well as 100 percent of the interest owed on their tax debt, they said.
