The bill amends the Tax Reform Code of 1971 to create a tax amnesty program for the fiscal year 2025-2026, referred to as ARTICLE XXIX-J. This program allows taxpayers to resolve their delinquent tax liabilities without facing penalties, interest, or fees, provided they file a tax amnesty return and pay the owed taxes within a designated 90-day period, concluding no later than June 30, 2026. The initiative aims to promote compliance by offering a unique opportunity for taxpayers to settle their obligations without the risk of further legal repercussions for the disclosed liabilities. Key provisions include definitions of relevant terms, guidelines for administration by the Department of Revenue, and stipulations that participants will not be eligible for future amnesty programs.

Additionally, the bill introduces new regulations regarding the judicial appeal process during the amnesty period, mandating that any appeals must be filed by the last day of the amnesty. It clarifies that penalties specified in this section are in addition to any existing penalties under current law and emphasizes that individuals or entities remain obligated to file returns and pay taxes as required by existing statutes. The bill also ensures that ongoing legal proceedings or investigations are unaffected by the new provisions and suspends any conflicting acts to facilitate the implementation of its regulations. The act is set to take effect immediately upon passage.

Statutes/Laws affected:
Printer's No. 2084 (Jul 07, 2025): P.L.6, No.2