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Taxpayers recently may have received a Tax Amnesty 2015 letter indicating the taxpayer may have underreported taxable income for the state of Indiana. The purpose of this letter is solely to advise taxpayers who may have liabilities where Tax Amnesty 2015 is still an option for them. It is informative only. The taxpayer may not have under-reported but met the parameters of the research to be identified as someone who may have. If the taxpayer did not under-report, he may ignore the letter or call the department to confirm. If the taxpayer did under-report, Tax Amnesty 2015 is a great opportunity to correct the problem.
Tax Amnesty 2015 is a limited-time opportunity for both individuals and businesses to pay past-due base taxes free of penalty, interest, and collection fees. Tax liabilities, for all tax types managed by the department, for periods ending prior to Jan. 1, 2013, are eligible to participate in Tax Amnesty 2015. Approximately 40 different tax types are eligible for participation. Taxpayers who participated in the 2005 amnesty program are not eligible to participate in Tax Amnesty 2015.
Tax Amnesty 2015 also allows taxpayers who have failed to file or have underreported their tax liabilities to file the appropriate tax returns and pay the base tax. If you elect to take advantage of this program, you shall forego all rights to protest the assessment and are not allowed to file a later claim for refund.
The department has identified approximately $545 million in outstanding liabilities that may be eligible for collection during Tax Amnesty 2015. Of the outstanding taxes collected, the first $84 million will fund the Indiana Regional Cities Development Fund. The next $6 million will be allocated to the Indiana Department of Transportation to support the operation of the Hoosier State Rail Line. Remaining taxes collected will be deposited into the state general fund.