2015 Indiana Tax Amnesty Program: Is Your Business Eligible?

Do you or your small business owe taxes to the state of Indiana? You may be in luck. Beginning September 15, 2015, Hoosier taxpayers can apply for Indiana’s 2015 Tax Amnesty program, which offers both individuals and businesses a limited-time opportunity to pay past-due taxes free of penalty, interest and collection fees. About 40 different tax types are eligible for tax amnesty, including individual and corporate income tax, sales and use tax, inventory tax, and withholding tax.

If you or your business have any existing tax liabilities to the State of Indiana through 2012, you’re eligible to participate in this program – providing you didn’t participate in the 2005 amnesty program, which makes you ineligible.

If you or your business qualify for amnesty, you should have received a notification by mail on September 15. This letter would have listed all known tax liabilities and the amount to be forgiven if you take part in this program. You then have two months (September 15, 2015 through November 16, 2015) to apply for the program. You can pay your outstanding base tax amount in full through either a lump sum or a payment plan (running until June 15, 2016).

Also, the 2015 Indiana Tax Amnesty program allows any taxpayers who have failed to file or have underreported their tax liabilities to file the appropriate tax returns and pay the base tax.

Additional requirements of the amnesty program include:

• You waive all rights to protest the base tax amount.
• You cannot file a later claim for a refund on the taxes paid.

In return, for participating in this amnesty program, the state will:

• Waive all penalties, interest and collection fees on your outstanding taxes.
• Release any tax liens that have been imposed on existing liabilities.
• Not seek civil or criminal prosecution against you or your company.

Note: If you don’t participate in this amnesty program, you’ll have to pay an additional 10% penalty in addition to the penalty that was previously imposed on the base tax amount that you owe.

For more information about the 2015 Indiana Tax Amnesty program, visit www.in.gov/dor/amnesty/.

If you need help with managing your small business taxes, talk to the payroll experts at The Payroll Department in Brownsburg, Indiana. As a payroll services provider, we help employers manage their company’s payroll – paying all the payroll taxes and preparing and filing all of the necessary payroll tax returns. Contact us today for more information.

– Ariane of The Payroll Department blog team