Nevada Enacts Sweeping Amnesty Program to Combat Revenue Shortfall

Thoughtware Alert Published: Jan 08, 2021
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In mid-2020, the Nevada Legislature approved a one-time tax amnesty program for businesses or individuals doing business in Nevada that may have an existing tax liability. The amnesty period will begin February 1, 2021, and end on May 1, 2021. The tax types included in the amnesty program include:

Tax Types in Amnesty Program

If the following criteria are met, the taxpayer may be entitled to a waiver of penalties and interest for delinquent taxes. 

  1. The tax was due and payable on or before June 30, 2020, which includes:
    1. All monthly tax returns due on or before June 30, 2020
    2. All quarterly tax returns due on or before April 30, 2020
    3. All annual tax returns due on or before January 31, 2020
  2. The delinquent tax amount is paid in full for the period. If a taxpayer has several delinquent returns but is only able to pay one or more periods, the penalty and interest may be waived for each period provided the tax was paid in full and; 
  3. The delinquent tax is paid during the amnesty period of February 1, 2021, to May 1, 2021

Amnesty is not available to taxpayers who have entered into settlement agreements or compromises regarding unpaid taxes, fees, or assessments, or to taxpayers that are under audit.

It should be noted that even if the taxpayer enters into the amnesty program, the Nevada Department of Taxation may still select the taxpayer for an audit for the delinquent periods. 

For additional guidance on the Nevada amnesty program, contact your BKD Trusted Advisor™ or submit the Contact Us form below.

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