Officials at the Department of Revenue Services estimate they’ve collected up to $185 million in back taxes during the most recent tax amnesty program.
More than 10,000 delinquent individuals and businesses took advantage of the 60-day program, which offered a 75 percent discount on interest rates. The largest payment was more than $20 million and the oldest debt dated back to 1988.
The amount collected surpassed each of the five amnesties offered since 1990, which ranged from as little as $25 million in 2009, to as much as $109 million in 2002. Gov. Dannel P. Malloy reportedly projected the most recent amnesty would collect about $35 million.
DRS Commissioner Kevin Sullivan told reporters Monday the amnesty’s success was likely a reflection of how many people got into trouble during the recession, according to the Hartford Courant. The program also changed eligibility rules by allowing those being audited or sued in civil court to participate.
Those who chose not to pay their debts through the program will face a 25 percent penalty now, up from 10 percent in previous years.
The money collected will be deposited into the state’s rainy day fund.
