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Thursday, November 5, 2009

Tax amnesty brings in double its goal

Delaware Gov. Jack Markell says a "one-time tax amnesty program" through Oct. 30 has raised $15 million so far and has secured promises raising the total to $22 million by June from 14,000 delinquent accounts, more than double its $10 million target. He credited Sallie Mae Corp.'s General Revenue Corp. division, which is collecting the money for the state.

Jack Hewes, who runs Sallie Mae's new Delaware office, in a statement praised Markell's decision to "outsource" the work. The contract boosted Sallie Mae's efforts to diversify as Congress weighs cuts to the taxpayer-subsidized private student loan business.
 
Acting Delaware finance secretary Tom Cook said the amnesty is now over, and  "the State is going to vigorously work to collect unpaid taxes," and penalties, "from those who did not come forward.”
Posted by Joseph N. DiStefano @ 12:10 PM  Permalink | 1 comment
Comments   
  • 0 like this / 0 don't   •   Posted 3:24 PM, 11/05/2009
    Tax amnesties usually end up producing a lot more than planned. It's human nature.
    — DonQ


1 comments
About Joseph N. DiStefano
Joseph N. DiStefano writes this blog to feed his PhillyDeals column in the Philadelphia Inquirer. Joe has been a member of Bloomberg LP’s New York Finance Team, wrote the book “Comcasted,” taught writing at St. Joseph’s University, and studied economics and history at Penn. Reach Joe at 215-854-5194 and JoeD@phillynews.com
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