Maine Revenue Services Offers Reduced Penalties for Full Payment of Past-due Taxes

August 12, 2009

Maine Revenue Services recently announced the 2009 Tax Receivables Reduction Initiative, a program that will allow certain taxpayers to resolve their tax liabilities with greatly reduced penalties. This program is intended to provide an incentive for taxpayers with past due taxes to promptly pay such liabilities in full.

Specifically, taxpayers may be able to resolve tax liabilities assessed as of September 1, 2009 by paying the tax, interest and 10% of any penalties by November 30, 2009. Upon approval, Maine Revenue Services will waive 90% of the penalties otherwise due.

The program will run from September 1, 2009 to November 30, 2009. Maine Revenue Services will begin sending applications to eligible taxpayers in early September.
If you would like more information on the content of this alert, please contact Christine Burke Worthen, a shareholder and Chair of Eaton Peabody's Tax Practice Group, or Rodney A. Lake.

This alert is provided as general information, and is not a substitute for legal or other professional advice.

To ensure compliance with requirements imposed by the U.S. Treasury Department and the Internal Revenue Service, we also inform you that any federal tax advice contained in this communication (including attachments) is not intended or written to be used, and cannot be used, for the purpose.