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IN HB1203
Bill
Status
1/7/2016
Primary Sponsor
Michael Karickhoff
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AI Summary
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Allows taxpayers who received a Department of State Revenue letter about the tax amnesty program between September 30, 2015 and November 17, 2015, and made a payment under it, to withdraw their participation by submitting a request.
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Taxpayers who withdraw are treated as if they never participated in the amnesty program and receive a tax credit equal to their amnesty payment against their adjusted gross income tax liability for tax years beginning after December 31, 2015 and before January 1, 2017.
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Excess tax credits that exceed a taxpayer's state tax liability may be carried forward to subsequent tax years under IC 6-3 until fully used.
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Withdrawal option does not apply to taxpayers who have unsatisfied assessments, payment demands, or demand notices from the Department for tax periods ending before January 1, 2013.
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Taxpayers must submit withdrawal requests on their adjusted gross income tax return for tax years beginning after December 31, 2015 and before January 1, 2017, using a form prescribed by the Department.
Legislative Description
Tax amnesty. Provides that if the department of state revenue (department) sent a letter to a taxpayer concerning the tax amnesty program and the taxpayer made a payment under the program, the taxpayer may submit to the department a request to withdraw the taxpayer's participation in the tax amnesty program. Specifies that if the taxpayer submits such a request: (1) the taxpayer shall be considered to have not participated in the amnesty program and to have not complied with the conditions of the amnesty program; and (2) the taxpayer is entitled to a credit against the taxpayer's adjusted gross income
Last Action
Representative Ober added as coauthor
1/11/2016