Conn. Gen. Stat. § 12-420c

(b) Such agreement may provide that, upon compliance by the taxpayer with all the terms of such agreement, in calculating the total amount of the audit assessment resulting from such managed audit the first ten thousand dollars of interest and ten per cent of any additional interest otherwise due under subsection (b) of section 12-415 shall not be imposed. Any interest accruing after the initial assessment shall be at the rate of interest specified in subsection (b) of section 12-415 .

(c) The commissioner may, in the commissioner's sole discretion, terminate a managed audit agreement and conduct an audit of an eligible taxpayer under subsection (a) of section 12-415 , if the eligible taxpayer fails to fulfill any of the terms of a managed audit agreement, or if the commissioner believes that a managed audit should not be conducted for any other reason.

(d) Nothing in this section shall abridge or alter any other requirements, rights or obligations of an eligible taxpayer or the commissioner granted or imposed by statute or regulation, including, but not limited to, penalties for negligence or intentional disregard of the provisions of this chapter, except as provided in subsection (c) of this section; penalties for failure to file returns or for fraud or intent to evade the provisions of this chapter; limitation periods and waivers of limitation periods; the right of an eligible taxpayer to file a written protest under section 12-418 ; the right of an eligible taxpayer to appeal an assessment or a reassessment under section 12-422 or the right of an eligible taxpayer to claim a refund under section 12-425 .