Daily Archives: March 8, 2017

Virginia to Administer Tax Amnesty

On February 20, 2017, the Governor of Virginia signed legislation into law that will require the Virginia Department of Taxation to administer a tax amnesty program. The legislation, House Bill 2246, requires the program to take place sometime between July 1, 2017 and June 30, 2018, for a period of 60-75 days. This amnesty program is Virginia’s first since 2009.

Participating taxpayers with unpaid tax liabilities due to Virginia will receive a waiver of all civil or criminal penalties and one-half of the interest due in exchange for payment of the outstanding tax liability. The program is available to …read more

Read more here:: Tax

Evaluating Price Realism is the Exception, Not the Rule, in Firm Fixed Price Procurements

Price evaluations in federal contracts can be a tricky subject. It is easy to confuse the concepts of price reasonableness with price realism. In a fixed price procurement, an agency is only required to evaluate offers for reasonablenesswhether the price is too high, and not for realismwhether the price is too low. The agency has broad discretion in its evaluation of proposals, and is considered to be in the best position to choose evaluation criteria that will allow it to best meet its needs. This is true as long as the agency’s evaluation …read more

Read more here:: Government Contracting