State officials haven’t yet determined when they’ll launch a tax amnesty program the legislature authorized last month, but they say a decision is coming soon.
The eight-week program will let tax scofflaws catch up on taxes they’ve failed to pay through Jan. 1, 2013.
Amanda Stanley, a spokesman for the Indiana Department of Revenue, said the agency will work with the governor’s office and the Office of Management and Budget to determine “the specific timing for the tax amnesty.”
She said a decision could be made in the coming weeks.
Under House Bill 1001, the revenue department will establish an eight-week period that allows for the collection of outstanding tax liabilities, while waiving penalties and interest. The revenue department has identified approximately $400 million in outstanding liabilities that may be eligible for collection during the tax amnesty.
The proposed tax amnesty program is expected to actually collect about $109 million to $159 million.
Of that, $84 million of the revenue will be deposited into the Indiana Regional Cities Development Fund and $6 million will be transferred to the Indiana Department of Transportation. All remaining revenue from the amnesty program will be deposited in the state’s main checking account.