Have you paid GET/TAT taxes due on your
Hawaii self employment and rental properties?
You may have been lulled into a false sense of security if you’ve never paid these taxes… and nothing bad happened. Hawaii is currently involved in major litigation against online rental platforms. Airbnb, VRBO, and others have been asked to provide information on their customers - information which they plan to use against you to collect these unpaid taxes.
Mark W. Lee, CPA helps rental real estate owners and other self employed individuals with unfiled General Excise (GET) and Transient Accommodation (TAT) taxes. If you received a letter from the Hawaii Department of Taxation seeking GET/TAT returns for your rental real estate properties and other businesses, it’s a good idea to retain professional representation.
More importantly, if HI DOT has not yet contacted you and you are not under current audit, filing back GET/TAT returns now can save you a significant amount of money. HI DOT may grant full penalty relief and partial interest relief if you file before you are contacted or audited. Penalties can be as high as 25% of tax owed and interest of 8%. However, if you wait until after the state contacts you - this relief is generally not available.
FILING YOUR DELINQUENT TAX RETURNS NOW COULD SAVE YOU TENS OF THOUSANDS OF DOLLARS.
HI DOT is getting smarter about collecting taxes. Aggressive litigation, online intelligence gathering, and even surveillance of suspected offenders’ properties is occurring. If the state is successful in obtaining online rental platform records the vast majority of non-filers will be audited. Once HI DOT contacts you about these taxes, you will have lost your opportunity to obtain amnesty for penalties, partial interest, and other unpleasant consequences including prosecution and fines.
Take Action Now and Save Money
Mark W. Lee, CPA helps owners of Hawaii rental properties become compliant with GET/TAT and seek penalty and interest relief under HI DOT’s “Voluntary Disclosure Program”. Remember, significant reductions in your liability are available if you file these returns BEFORE the HI DOT contacts you. Call today and find out more.
Call Mark Lee, CPA today to discuss your General Excise and Transient Accommodation Taxes. You may be eligible to avoid paying thousands in penalties and interest.
© 2019 Mark W. Lee, CPA 585 Iao Valley Road Wailuku, HI 96796