NC H830

Establishes a tax amnesty program administered by the Department of Revenue from July 1, 2011, through June 30, 2012, during which criminal prosecution for failure to report or pay taxes is waived.

Applies to overdue tax debts incurred after January 1, 2008, and before December 31, 2011, excluding matters already in pending court proceedings.

Requires participating taxpayers to file applications, file/amend returns for all applicable reporting periods, and pay previously assessed or underreported taxes plus 50% of accrued interest by June 30, 2012.

Waives all penalties on qualifying taxes when paid in full; protects tax professionals from criminal prosecution under G.S. 105-236(9a) for preparing returns related to amnesty program taxes.

Authorizes the Secretary of Revenue to draw up to $1,100,000 from July 2011 collections to fund program administration and publicity.