A Tax Amnesty bill was passed by the Ohio House to give taxpayers an opportunity to pay their delinquent state tax liabilities without penalties or interest. The Tax Amnesty program is set to run from January 1, 2021 to March 31, 2021 and will be available to individuals and businesses with qualifying taxes. The amnesty applies only to taxes that were due and payable as of the bill’s effective date and that were unreported or underreported. Qualifying taxes and fees do not include those in which a notice of assessment or audit has been issued. The taxes and fees covered under the amnesty include, but are not limited to, the following: Income Tax, Commercial Activity Tax, State Sales and Use Tax, Local Sales and Use Tax, School District Income taxes, Public Utility Excise Tax, Motor Fuel Excise Tax.
The amnesty program is a response to provide tax relief as well as boost the state’s revenues caused by the pandemic. The Bill now moves to the Ohio Senate where it is expected to pass and then signed by the Governor. Taxpayers interested in learning more, can contact us.