New York State Department of Taxation and Finance Acting Commissioner Jamie Woodward announced today that there is still time to sign up for the new Penalty and Interest Discount (PAID) Program, a plan offering substantial reductions in penalty and interest charges to taxpayers who pay off older tax liabilities.

Eligible taxpayers must apply and pay off their debt by March 15, 2010.

Acting Commissioner Woodward said, “Anyone can check to see if they have an outstanding tax liability that they may have lost track of or forgotten about.  Check now to see if you owe and how much you can save. Go to our website, www.nystax.gov or call us at (518) 457-1726 or 1 (888) 272-9697 to learn more. Don’t delay, time is running out.”

“Since the program began on January 15, thousands of taxpayers have already taken advantage of this debt forgiveness opportunity,” said Acting Commissioner Woodward.

The program reduces by 80 percent the penalty and interest charges accrued on unpaid tax bills that are more than six years old.  Tax bills that are more than three years old but less than six years old can be reduced by 50 percent.

Tax bills issued after December 31, 2006, are not eligible for this program.