Wednesday, January 03, 2018 9:00 am
Ohioans can apply for amnesty to settle unreported tax debts
COLUMBUS, Ohio – Ohio's six-week tax amnesty period is underway, giving taxpayers with unreported or underreported tax debts an opportunity to pay a reduced amount of interest and avoid owing further penalties if they settle up.
The state Department of Taxation is accepting applications for the amnesty program for residents and businesses until Feb. 15. During the amnesty window, eligible taxpayers who fully pay their delinquencies will pay half the normal interest and no extra penalties.
It applies only to tax delinquencies that were due before May 1, 2017, and are currently unknown to the department. Because of that, the department isn't sure how many taxpayers might be eligible or what the total of their delinquencies might be.
The department says Ohio's last amnesty period, offered in 2012, brought in $27 million.