NEW YORK GOV. PATERSON SIGNS TAX AMNESTY LEGISLATION

On December 4, 2009 New York Gov. David Paterson signed tax amnesty legislation that authorized the Penalty and Interest Discount (PAID) Program. The program is set to begin on January 15, 2009 and expire on March 15, 2009. The program would relieve eligible taxpayers of 80% of accrued penalty and interest on unpaid bills issued on or before December 31, 2003, or 50% of accrued penalty and interest on unpaid bills issued after December 31, 2003 and before December 31, 2006. The program requires full payment on or before the March 15, 2009 expiration date.