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Commonwealth Offers Tax Amnesty

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Virginia is giving tax procrastinators and evaders a chance to pay up without penalty. The commonwealth is promoting an amnesty program hoping it will bring $48 million to the cash-strapped state.

The amnesty period will run Oct. 7 through Dec. 5. Qualifying taxpayers who settle up with the Department of Taxation during the period can escape a 20 percent late-payment penalty and waive half the interest they owe.

Gov. Timothy Kaine helped kick off "Get Square on Back Taxes" this morning in Richmond. Kaine says the program gives people who owe a strong financial incentive to fulfill their obligations, as well as help the state's general fund.

Meymo Lyons reports...

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