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RI amnesty program collects $7.4M in back taxes

Thursday, 25 Oct 2012 | 1:51 PM ET

PROVIDENCE, R.I. -- Rhode Island's tax amnesty program has generated nearly $7.4 million in payments from people behind on their taxes.

The state Division of Taxation said Thursday that it has received 2,792 applications since the amnesty period began Sept. 2.

Under the program, penalties are waived for those who submit past-due returns with their taxes owed. Interest on the owed amount is reduced by 25 percent. The state also agrees not to pursue civil or criminal actions and is allowing taxpayers to renew any licenses that have lapsed.

The program ends Nov. 15. State Tax Administrator David Sullivan said he expects many taxpayers who owe back taxes to wait for the final weeks of the program.