0

No products in the cart.

Don’t Forget Oklahoma’s Voluntary Tax Compliance Initiative!

Share on FacebookShare on Google+Tweet about this on TwitterShare on LinkedIn

Do you owe income tax, sales tax, withholding tax (or other taxes) to the State of Oklahoma?

Are you an Oklahoma business, doctor, lawyer, nurse, electrician, chiropractor, or other person with an Oklahoma license or permit which has been suspended because you couldn’t pay your taxes?

Well, if you answered yes, don’t forget to take advantage of Oklahoma’s Voluntary Tax Compliance Initiative.

What is Oklahoma’s Voluntary Tax Compliance Initiative?

In order to encourage the voluntary disclosure and payment of taxes owed to the State of Oklahoma, the Legislature has authorized the Oklahoma Tax Commission to establish a two-month period, commencing at the start of the day on September 14, 2015 and ending on November 13, 2015, during which a full waiver of penalty, interest and any other collection fees or costs due on eligible taxes shall be granted to any taxpayer who voluntarily files delinquent returns or reports and pays the taxes owed for any and all periods ending before January 1, 2015.

Who’s eligible for Oklahoma’s Voluntary Tax Compliance Initiative?

Individuals and businesses are eligible to enter into a payment plan if they are unable to pay the eligible taxes in full during the voluntary compliance initiative period and if the original base tax amount is at least $75.00.

Which taxes are eligible for the waiver under Oklahoma’s Voluntary Tax Compliance Initiative?

All penalties and interest imposed upon the taxes and fees set out in this subsection are eligible for waiver pursuant to the Voluntary Tax Compliance Initiative:

(1)        Mixed beverage tax levied pursuant to Section 576 of Title 37 of the Oklahoma Statutes;

(2)        Gasoline and diesel tax levied pursuant to Section 500.4 of Title 68 of the Oklahoma Statutes;

(3)        Gross production and petroleum excise tax levied pursuant to Sections 1001, 1101 and 1102 of Title 68 of the Oklahoma Statutes;

(4)        Sales tax levied pursuant to Section 1354 of Title 68 of the Oklahoma Statutes;

(5)        Use tax levied pursuant to Section 1402 of Title 68 0f the Oklahoma Statutes;

(6)        Income tax levied pursuant to Section 2355 of Title 68 of the Oklahoma Statutes;

(7)        Withholding tax levied pursuant to Section 2385.2 of Title 68 of the Oklahoma Statutes; and

(8)        Privilege tax, commonly known as the bank in lieu tax, levied pursuant to Section 2370 of Title 68 of the Oklahoma Statutes.

Other penalties described in this subsection may also be waived pursuant to the Voluntary Tax Compliance Initiative:

(1)        Penalty for negligence or failure or refusal to file.

(2)        Penalty for fraud.

(3)        Penalty on the face of a tax warrant for failure to pay a delinquent tax.

(4)        Penalty for filing a report or return with insufficient information.

(5)        Any other penalty associated with an eligible tax levied or administered by the Commission pursuant to Titles 68 or 37 of the Oklahoma Statutes.

What if my delinquent taxes have been remitted to a debt collection agency?  If the delinquent taxes have been remitted to a debt collection agency for collection, the debt collection agency contract fee shall not be waived.

Can I enter into a payment plan?  Yes, but you must make a full payment of the taxes due or enter into and comply timely with the terms of a payment plan between September 14, 2015, and not later than November 13, 2015, for each of the taxes and filing periods for which waiver is sought.

The term of the payment plan will be for no more than six (6) payments. The first payment will be required as the down payment and must be made with the request.

Payments will be due on the 15th day of each subsequent month during the term of the payment plan.

You can make payments under the Voluntary Tax Compliance Initiative in the form of cash, a check, a money order, electronic funds transfer, or may be charged to an approved credit card.

What if I have a pending tax protest? Any taxpayer who has a protest pending with respect to an assessment made by the Commission is eligible for participation in the Voluntary Tax Compliance Initiative if the taxpayer pays the taxes assessed in full and withdraws the protest.

What if I am the subject of a State of Oklahoma tax related criminal investigation or criminal prosecution?  The Commission will not grant a waiver to any taxpayer who is the subject of a State tax related criminal investigation or criminal prosecution.

Are court costs, garnishments, warrant costs, warrant penalties eligible for waiver?  Yes, court costs, garnishments, warrant penalties and warrant costs are eligible for waiver under the Voluntary Tax Compliance Initiative.

Is Court approval required to obtain a waiver?  No, because waiver of penalty and interest through the Voluntary Tax Compliance Initiative is accomplished by operation of law, no Tax Commission Order will be issued, and no approval by a District Court will be necessary to make such waiver effective.

Can I participate in the Voluntary Tax Compliance Initiative if I am in bankruptcy?  No, a taxpayer who is currently in bankruptcy is not eligible for participation in the Voluntary Tax Compliance Initiative.

 

WHAT IF I DON’T QUALIFY FOR OKLAHOMA’S VOLUNTARY TAX COMPLIANCE INITIATIVE?

If you don’t qualify for Oklahoma’s Voluntary Tax Compliance Initiative, and you owe income tax, sales tax, withholding tax (or other taxes) to the State of Oklahoma, or you are an Oklahoma business, doctor, lawyer, nurse, electrician, chiropractor, or other person with an Oklahoma license or permit which has been suspended because you can’t pay your taxes, then you may still qualify for other relief.  Please feel free to call me at (405) 254-5005.

Your email address will not be published. Required fields are marked *