Time is running out for businesses that wish to clear up their tax records without penalty.

The Texas Fresh Start tax amnesty gives businesses the opportunity to clear up their tax records and save money by avoiding penalty and interest on tax reports which they failed to file.

Businesses can file reports and pay overdue taxes, as well as fix previous reports which they had stated a lower amount than what was due.

According to the Texas Comptroller’s Office, the tax amnesty covers taxes and fees originally due before April 1st, 2012. It does not apply underpaid tax returns, which is tax that is reported but not paid, or filing periods that businesses have in audit.

The Fresh Start period applies to sales tax, franchise tax, and other state or local taxes and fees administered by the Comptroller’s office, with the exception of Public Utility Commission gross receipts assessments.

The amnesty period ends August 17th.

For more information, call 1-800-252-1390 or visit www.freshstart.texas.gov.