If you failed to pay or you underpaid taxes owed the state of Ohio the past few years, listen up! Tax officials are offering you a break, if you come clean now.
An amnesty program is scheduled between May 1st and June 15th. In an interview with statehouse correspondent Bill Cohen, Ohio Tax Commissioner Joe Testa talks about what kind of taxes are covered by the amnesty.
Testa: “There are few exceptions but it will include almost all personal income, sales, general business taxes, you know wide variety.”
Cohen: “And if somebody does participate, what kind of a break will they be getting?”
Testa: “Well they are going to pay no penalty and half interest, but they will have to pay all of the under reported and unreported tax that has been due prior to May 2011.”
Cohen: “What’s the advantage to the state to let people off easy?”
Testa :“Well it’s to get people to file, to register, to bring their taxes current, and move forward. Most of the things that we find are honest mistakes. They missed a deadline, they miscalculate something; forget to report something, things like that."
Cohen: “This isn’t the first tax amnesty Ohio has had, what had been some recent ones, have they raised much money?”
Testa :“Yes, 2006 was the last one that the state conducted, it raised a little over $55million for state monies about $4.2million for local, because we have sales tax and school districts income tax ,local taxes that will come in through amnesty as well and there was one prior to that in 2002 which was about 37million for the state.”
Testa says people can get more details about the amnesty, plus the forms to fill out, by going to this website http://www.ohiotaxamnesty.gov. He also says the paperwork and past-due tax payments should be sent in between May 1st and June 25th.