Oklahoma Taxpayers are taking advantage of Tax Amnesty Program

The Oklahoma Tax Commission recently established Pay Right OK, which allows Oklahoma taxpayers to pay past-due taxes tax without penalty, interest and even some fees.  The program began September 14 and is available until November 13, 2015.  A legislative bill authorized the program to generate revenue and address large budget shortfalls.  State leaders originally estimated that the program would generate $35 million.  However, even though taxpayers still have almost a month left to enroll, the program has already beaten the estimate with collections at $38,545,906. 

If taxpayers are unable to pay the full amount due, they can establish a payment plan by making six monthly payments.  Ideally, if there are amounts owed for multiple periods/years, the payment plan would address all of the periods so that a portion of each monthly payment is applied to all of the periods for which back taxes are owed.  Otherwise, the taxpayer will not get a waiver of the penalties and interest for the periods not included in the plan.  However, the Taxpayer may have to limit the amount of the periods covered, if he or she cannot pay off the total amount owed through the six payments.   

One liability that the amnesty program may not cover is private collection fees.  If a private collection fee has been charged, the taxpayer will likely remain obligated to pay that fee.  The Tax Commission occasionally engages private collection firms to collect past due taxes, and the collection fees assess can be substantial. 

OTC has created an online system where taxpayers can sign-up for the program.  If the taxpayer has a pending protest with the Tax Commission, the protest must be withdrawn in order to qualify for the program. 

For assistance with the tax amnesty program or any other tax issues, contact Tim Larason, Jesse Chapel, or Ryan Duffy at 405-272-9241.

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