United States

Indiana: Budget Bill Includes Tax Amnesty

May 18, 2015
From KPMG TaxWatch

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Indiana House Bill 1001, the state’s budget bill, includes provisions establishing a tax amnesty program to be held for an eight week period ending before January 1, 2017. The amnesty program applies to taxpayers with unpaid tax liabilities for taxes due and payable for a tax period ending before January 1, 2013. A tax is “due and payable” if the Department has issued an assessment or a demand for payment, or the taxpayer has filed a return reporting the liability, or otherwise reported the liability to the Department. Taxpayers that previously participated in an Indiana amnesty program are not eligible to participate; neither are taxpayers whose liabilities result from failure to add back riverboat gambling taxes or slot machine wagering taxes to their income for corporation income tax purposes. Taxpayers that pay taxes due and agree to comply with amnesty conditions established by the Department will receive a waiver of all interest, penalties, collection fees, and costs that would otherwise be applied. Additional penalties apply to taxpayers that do not pay taxes that are due and payable during the amnesty period. Please contact Marc Caito at 317-951-2434 with questions on the upcoming amnesty.

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The following information is not intended to be "written advice concerning one or more federal tax matters" subject to the requirements of section 10.37(a)(2) of Treasury Department Circular 230.

The information contained herein is of a general nature and based on authorities that are subject to change. Applicability of the information to specific situations should be determined through consultation with your tax adviser.