Tax Amnesty 2015 in Indiana
Do you owe outstanding tax liabilities in the state of Indiana? Have you filed your back taxes?
If you’re behind, you may be eligible for Indiana’s 2015 Tax Amnesty program. This program is very important for anyone who currently has overdue tax liabilities. However, the program is only available to Hoosiers for a limited amount of time.
This post takes a closer look at the program, how to qualify, and other tips.
What is Tax Amnesty 2015?
The Indiana Department of Revenue is offering a tax amnesty program this fall. The program is set up so that individuals and businesses that have outstanding tax liabilities or hadn’t filed their taxes prior to January 1, of 2013 can get caught up and pay those liabilities.
A similar program was run by the Indiana Department of Revenue in 2005 with great success. The State of Indiana has several projects that they’re wanting to collect money for, leading to the 2015 Tax Amnesty program. The program will allow the state to collect funds from taxpayers who have fallen behind on filing or paying their taxes.
Who is Tax Amnesty For?
Indiana’s tax amnesty program is for both businesses and individuals. The program is set up so that if you take advantage of it between September 15, 2015 and November 16, 2015, you can pay your tax liabilities without having to pay penalties, interest, or any collection fees. This program is only applicable to liabilities prior to January 1, 2013.
It’s important to note that if you have paid back tax liabilities prior to September 15, 2015, you are not eligible for a refund of any of your collection fees or interest paid.
Are You Eligible for Tax Amnesty?
If you haven’t filed or paid previous taxes in the State of Indiana, you’ll want to consider this program. Interest can add up to a significant amount. Taxpayers who are eligible for the tax amnesty program and don’t take advantage of it will be subject to a double penalty after November 16, 2015.
The tax professionals at Baker Retirement & Wealth Management, P.C. can help you understand Indiana’s tax amnesty program and your eligibility. We’ve been answering important tax questions in the greater Evansville area for nearly thirty years. If you live in Southwestern Indiana or other parts of the state, give us a call or fill out the contact form on our site. To get answers to your Indiana tax questions, contact the Baker team today at 1-866-244-3517.Talk to a CPA for Free