TAX NEWS - JUNE 2010

Philadelphia tax amnesty program has raised more than $7 million with 2 1/2 weeks remaining

PHILADELPHIA -- With 2 1/2 weeks remaining in Philadelphia's tax amnesty program, the city says it has collected more than $7 million in back taxes so far.

The city's program began May 3 and runs until June 25. Under the terms of the program, all penalties and half the interest owed are being waived.

Officials said Tuesday they had received 9,400 applications from tax delinquents seeking to take part in the amnesty. When the program started, revenue commissioner Keith Richardson said officials hoped to bring in about $30 million.

A similar state tax amnesty program began April 26 and runs through June 18.