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Ohio Launches Tax Amnesty Program

Posted on May 10th, 2012 | Author: Robert C. Gabrielski

Those foreign companies conducting business in the United States and having facilities and operations in Ohio should be aware of the new tax amnesty program launched by Ohio.  Ohio’s Tax Amnesty Program specifically provides amnesty for corporate taxpayers with respect to underreported taxes prior to May 1, 2011.  The program provides for the forgiveness of penalties and a 50% reduction in applicable interest owed for qualifying taxes; however, amnesty is not available to taxpayers who have already received a notice of tax delinquency or who are currently under audit.  The program runs for 45 days, commencing on May 1, 2012 and ending on June 15, 2012. Delinquent taxpayers who participate in the amnesty program can avoid criminal prosecution with respect to any delinquent taxes.  Applications and instructions regarding the program can be found at www.ohiotaxamnesty.gov.