NCDOR Announces Trust Tax Recovery Program
February 5, 2014
Raleigh, N.C. — The North Carolina Department of Revenue (NCDOR) recently launched the Trust Tax Recovery Program which helps businesses recover from certain tax liability issues.
The Trust Tax Recovery Program will offer penalty and fee waivers, as well as payment plans to companies that have liabilities for sales, withholding and other trust taxes.
Businesses that file and pay all outstanding taxes within the payment plan terms may have their penalties and collection fees waived. Fees and penalties may be reinstated if program participants fail to file or pay future taxes as required.
There are limitations to the program relating to criminal investigations. Taxpayers interested in the program must not be facing criminal charges or be the subject of a criminal investigation by NCDOR at the time of application. Taxpayers may not receive the benefits of the program for tax periods associated with a prior criminal conviction. In addition, taxpayers may not participate in this program if they have defaulted on payments or received penalty waivers while participating in the Small Business Taxpayer Recovery Program or the Small Business Counseling Program.
Interested business owners should contact the Department of Revenue at 1-877-252-4549 and visit the "Information for Businesses" section of www.dornc.com to learn more about eligibility and participation.
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