DENVER, July 6, 2011 /PRNewswire/ -- Ryan (www.ryan.com), a leading global tax services (http://www.ryan.com/Practice-Areas.aspx) firm with the largest indirect tax (http://www.ryan.com/Transaction-Tax.aspx) practice in North America, today announced that Governor John Hickenlooper of Colorado signed into law Senate Bill 184 establishing a tax amnesty program ("Program") under which the Colorado Department of Revenue ("Department") may waive penalties and abate interest on eligible delinquent taxes. The Program will apply to the following taxes: corporate income tax, individual income tax, sales and use tax, gasoline and special fuel tax, cigarette tax, tobacco products tax, severance tax, and certain local taxes collected by the Department. Amnesty is limited to reports prior to December 31, 2010.
The Program begins October 1, 2011 and ends November 15, 2011. To participate in the Program, a taxpayer must report to the Department, during the amnesty period, the amount of taxes due and pay the full amount of the tax and interest due under the Program or sign an agreement to pay the taxes and interest no later than November 15, 2011. A taxpayer entering into an agreement to pay under the Program must comply with the terms of the agreement to remain eligible for the Program benefits.
Taxpayers who, as of October 1, 2011, are under investigation or being prosecuted for crimes related to any taxes collected by the Department may not participate in the Program. Additionally, the Program does not apply to amounts billed as deficiencies and mailed prior to October 1, 2011.
About Ryan
Ryan is a leading global tax services firm, with the largest indirect tax practice in North America and the seventh largest corporate tax practice in the United States. Headquartered in Dallas, Texas, the Firm provides a comprehensive range of state, local, federal, and international tax advisory and consulting services on a multi-jurisdictional basis, including audit defense, tax recovery, credits and incentives, tax process improvement and automation, tax appeals, tax compliance, and strategic planning. In 2010, Ryan received the International Service Excellence Award from the Customer Service Institute of America (CSIA) for its commitment to world-class client service. Empowered by the award-winning myRyan work environment, which is widely recognized as the most innovative in the tax services industry, Ryan's multi-disciplinary team of more than 900 professionals and associates serves many of the world's most prominent Fortune 1000 companies. More information about Ryan can be found at www.ryan.com.
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