Washington’s Tax Amnesty Plan Unfeasible for Most Companies, Tacoma Bankruptcy Attorney Dave Yando

Feb. 7, 2011 - PRLog -- A Washington state plan to entice businesses to pay their over-due taxes will not work for the majority of delinquent companies, according to Tacoma, Wash. bankruptcy attorney Dave Yando.

“The tax amnesty program is a great opportunity for small businesses to file and pay past due taxes without penalties,” writes Mr. Yando, a longtime debt solutions attorney for businesses and individuals (http://www.yandolaw.com).

Mr. Yando’s law-firm emphasis is stopping foreclosure for homeowners, as well as bankruptcy, real estate and taxation law.

“The major drawback, which will limit the usefulness of this program, is that all taxes due must be paid in full by April 30, 2011,” explains Mr. Yando.  

“Most small businesses do not have the ability to make the full payment of past due taxes (hence the reason the returns were not filed in the first place) and lending institutions will not approve loans for this purpose,” he adds.  

“To be effective, this program should provide that all returns must be filed and then allow an installment payment program, with interest, for amounts due and owing,” advises Mr. Yando.

Indeed, some 80 percent of the state’s 50,000 delinquent companies will not participate even though penalties and interest will be waived, according to estimates by the state government agency, the Department of Revenue.

The agency believes it will generate $24.4 million for state coffers and $3.9 million in revenue for local taxing authorities.

Mr. Yando comments on many debt-solutions and issues facing businesses and people at http://www.yandolaw.com/archives/category/daves_commentaries.

Mr. Yando’s LinkedIn profile: http://www.linkedin.com/pub/david-yando/29/824/bb1



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Tacoma attorney David Yando helps businesses and people with debt relief and bankruptcy services. He has more than 30 years of hands on experience in planning and litigating debt relief matters. This includes bankruptcy, real estate and taxation.