CBIA BizCast host Ali Warshavsky speaks with Mark Boughton, commissioner of the Connecticut Department of Revenue Services, about the state’s new tax amnesty program.
Boughton says those who owe back taxes can come forward between now and Jan. 30, 2022 and receive a 75% reduction in interest and waived penalties.
“Our community always asks how much money is really out there,” said Boughton.
“It’s about $500-$800 million going back to about the mid-1970s. I don’t think all of that is collectable, but there are a lot of recent disputes.”
The state offered a similar program in 2017 but Boughton said it is unlikely another amnesty will happen again.
Those interested in the program can visit the Get Right CT website to learn more.
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