Tuesday, November 3, 2015

Self-audit program begins

The Division of Taxation today launched a self-audit program. For those whose applications are approved, who complete their self-audit in accordance with program guidelines, and who pay the tax due, the Division of Taxation will waive penalties and forgive a portion of the interest that would otherwise be due.

“This is a great opportunity for taxpayers, especially businesses, to clear their books of a tax liability and get a significant break in the form of a penalty waiver and interest forgiveness,” said Rhode Island Tax Administrator David M. Sullivan.

The program has its own webpage, which includes the program application, FAQs, and other information.