Detailed Nevada Development
After a short special session of the Nevada legislature to address an estimated $1.2 billion shortfall, legislation was signed into law on July 20, 2020 that authorizes a tax amnesty program. Senate Bill 3 requires the Department of Taxation to conduct a tax amnesty program for a period of not more than 90 days ending no later than June 30, 2021. A person or business that has not paid a tax, fee, or assessment required to be paid to the Department will be relieved of all the monetary penalties and interest imposed with regard to the unpaid tax, fee, or assessment if the taxpayer requests relief from the Department in the manner required and pays the tax, fee or assessment in full. Amnesty is not available to taxpayers that have entered into settlement agreements or compromises with the Department regarding unpaid taxes, fees or assessments, or to taxpayers that are being audited by the Department and have not yet been issued a final notice of deficiency determination by the Department. Please contact Sarah McGahan at 713-449-9748 with questions.
This Week's Developments