Owe Maryland Money? Amnesty's Your Friend

O'Malley offers up a deal

By Jim Iovino
|  Monday, Aug 31, 2009  |  Updated 1:00 PM EDT
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Owe Maryland Money? Amnesty's Your Friend

Paying in cash is optional.

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Maryland is in desperate need of cash. But at the same time the state knows you've got less to give due to this whole recession thing.

So in order to get tax deadbeats to pay up, Gov. Martin O'Malley is willing to make a deal. He's calling it a tax amnesty plan, and it begins Tuesday. Get your checkbooks ready.

The two-month amnesty period runs until Oct. 30. It was approved by the Legislature in the last session to encourage people to pay back taxes as the state weathers the recession.

The amnesty applies to income, sales, withholding and other taxes. It allows residents to pay back-taxes free of penalties and one-half the interest due.

The state's last tax amnesty in 2001 collected $39.5 million in revenue for the state.

All payments will have to be received by Dec. 31.

The state estimates about 177,000 individual income tax accounts and 18,000 business tax accounts are delinquent in Maryland, adding up to as much as a half billion dollars.

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