Right now the city of Philadelphia has about $1 billion in back taxes and tax amnesty programs in general have helped many state and city governments recoup taxes they may have never received. In December of last year, Keith Richardson, the Philadelphia Revenue Commissioner stated the city would most likely give delinquent taxpayers 45 days to pay their taxes without penalties and only half the interest that has accrued. What happened is that Philadelphia decided to give a longer tax amnesty than 45 days. The program started on May 3rd and ends June 25th, 2010.

Whether you have City, State, or Federal tax debt or unfiled taxes, it is in your best interest during these economic times to come into compliance with tax authorities as interest and penalties will only increase your balance and make things worse.  To find more information about this tax amnesty, visit www.phillytaxamnesty.com today.

Related posts:

1. Oregon State Tax Amnesty for Back Taxes Ends 11/19
2. Massachusetts Tax Amnesty: Waive MA Tax Penalties 4/1/10 to 6/30/10
3. Maryland Tax Amnesty Will Last for 2 Months

In exchange, Francis wants the charges dropped for pleading guilty to two misdemeanors.  He claims his Certified Public Accountant, Michael Barrett, stole millions of dollars from the company and then contacted the IRS for a whistle-blower award.

Immediately after the judge accepted a plea deal, the IRS filed a lien for $33.8 million for 3 years of back taxes. Francis claims that the IRS is levying his assets and he argues that the only way the IRS can freeze his assets are if he preparing to flee the country, moves his assets out of IRS’s reach or if he goes bankrupt. Francis states the only reason the IRS is freezing his assets is to get back at him or for spite.

As you can see, with tax revenues dropping, local, State and Federal tax collectors are doing everything they can to recover taxes owed or back taxes. Now is not the time to hide from taxing authorities as funds have been increased for tax collectors to increase collection efforts in order to decrease the tax gap (what individuals and businesses owe versus what is paid).

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