HB 292 - Tax Amnesty Program Summary

• Establishes a one-time tax amnesty program administered by the Director of Taxation for taxpayers owing state taxes from taxable periods between January 1, 2010 and December 31, 2020.

• Amnesty period runs from January 1, 2022 through December 31, 2022, and waives all civil penalties and criminal prosecution for participating taxpayers who file required returns and pay taxes in full.

• Excludes real property taxes and taxes under chapter 249, Hawaii Revised Statutes, and does not apply to taxpayers under criminal investigation or prosecution for tax-related offenses.

• Allows installment payment agreements for cases of severe hardship, with 25 percent due upon application and the balance paid in monthly installments without accruing interest.

• Requires the Director to adopt administrative rules, provide amnesty forms and instructions, publicize the program, and maintain separate accounting of revenues collected under the amnesty program.