Ohio offers amnesty period for settling unreported tax debts

cash money

COLUMBUS, Ohio (AP) — Ohio taxpayers with unreported or underreported tax debts will get an amnesty period in which they can pay a reduced amount of interest and avoid owing further penalties if they settle up.

Ohio’s Department of Taxation is promoting the six-week amnesty program for residents and businesses, which runs from Jan. 1 to Feb. 15. During the amnesty window, eligible taxpayers who fully pay their delinquencies will pay half the normal interest and no extra penalties.

It applies only to tax delinquencies that were due before May 1, 2017, and are currently unknown to the department. That means the department isn’t sure how many taxpayers might be eligible or what the total of their delinquencies might be.

The department says Ohio’s last amnesty period, offered in 2012, brought in $27 million.

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