Ohio has announced a tax amnesty program that will be open from January 1, 2018 to February 15, 2018. If you or your business have unreported or underreported tax obligations that were due in Ohio and payable as of May 1, 2017, they can be resolved via the amnesty program without penalty and only half the interest.
So, what qualifies for amnesty?
Unreported means that back tax is owed but there has not yet been contact by the Ohio Department of Taxation in regard to that tax.
Underreported means that some tax has been reported and paid but there was an error made in the amount of tax reported. Changes in your business operations, acquiring or selling a company, and statutory or case law changes issued after business decisions were made are only a few of the examples of how these situations can occur.
Nearly every Ohio tax type is eligible, so put this on your holiday “to do” list and contact us soon about how to collect the documentation now to file for Ohio Tax Amnesty in early 2018.