Tax Amnesty Definition

Types

• Both federal and state amnesty programs exist. Programs in different states and at different governmental levels can vary greatly in scope and duration.
  
  

Function

• Amnesty programs are an effective way for a state to generate revenue quickly.
  
  

Cautions

• As the San Francisco Chronicle has noted, if you are eligible for tax amnesties and you do not come forward, you can be subjected to even harsher fees, penalties and criminal charges.
  
  

Time Frame

• The period of eligibility depends on the program, though it usually ends when criminal investigations begin.