What is the Tax Amnesty Program?

You may have heard that the Indiana Department of Revenue’s tax amnesty program will be available from September 15 through November 16, 2015. During Tax Amnesty 2015, the state believes about $545 million in outstanding liabilities may be eligible for collection. Having been through this once before, Indiana is no stranger to the potential success of the program. In 2005-2006, the initial Indiana tax amnesty program was conducted. While shooting for an estimated $65 million, the program brought in $244 million.

The program was developed to help both individuals and businesses with unfiled taxes or unpaid tax liabilities pay those debts free of collection fees, penalty, and interest. In addition, the state will release tax liens that have been created due to liabilities. Also, the Indiana Department of Revenue will not seek criminal or civil prosecution against those who participate. Tax liabilities for periods ending prior to Jan. 1, 2013 qualify for this program. When a person decides to utilize this program, he or she forfeits all rights to protest the assessment. Also, the individual would not qualify to file a later claim for refund.

Which Taxes Are Not Covered by This Program?

First off, taxpayers who took part in the 2005 amnesty program may not participate in Tax Amnesty 2015. Additionally, Indiana’s tax amnesty program does not have an impact on any federal taxes that you may owe. The program is only offered through the Indiana Department of Revenue.

The Indiana Department of Revenue does not manage workers’ compensation taxes or property taxes, so those types of taxes are not included in the Indiana tax amnesty program.

Which Taxes Are Covered by This Program?

There are more than 40 different tax types included in the tax amnesty program. Some of the taxes covered in Indiana’s tax amnesty program include:

  • Consumer Use
  • Corporate Income
  • Food & Beverage
  • Gaming Excise Tax
  • Hazardous Chemical Fee
  • Individual Income
  • Inheritance
  • Motor Fuel
  • Sales
  • Withholding

For a full list, click here.

Get Tax Amnesty Advice Today

The tax professionals at Baker Retirement & Wealth Management, P.C. can help you learn more about Indiana’s tax amnesty program as well as your eligibility. Our team has been providing guidance and answering important tax questions in the greater Evansville area for nearly thirty years. If you live in Southwestern Indiana or another part of the state, give us a call or fill out the contact form on our site. We help clients from all over the state of Indiana, including Indianapolis, Fort Wayne, Vincennes, Terre Haute, Columbus, and beyond.

To learn if you qualify for tax amnesty in Indiana, contact the Baker team today at 1-866-244-3517.

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