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Old 04-11-2009, 07:57 PM
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Default Late tax penalties for Indiana state tax?

Hello,

Does anyone know how to calculate late tax / filing penalties for late Indiana state taxes? I had my federal and state returns prepared professionally last year and managed to not get them in the mail (...); I only owed $105, but I'm trying to figure out what my late filing / paying penalties are as I pay this year's taxes (I've already paid my late federal taxes--information about calculating the penalties was easy to find). I've received no notices of any kind...any advice would be greatly appreciated.

Thanks!
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Old 04-14-2009, 04:05 PM
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Call the Indiana Department of Revenue at 317+232-2165. There reportedly will be tons of delinquencies in paying taxes as a consequence of the recession we've been in. I would think that the Indiana Department of Revenue would be happy just to receive the principal amount due without any penalty or interest. A bird in the hand is worth ten thousand in the bush.
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Old 04-14-2009, 04:09 PM
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I believe the interest rate is 7%.

Tax Types/Various Rates - Penalties Liability for penalty - 10 percent or $5 whichever is greater. IC 6-8.1-10-2.1

Failure to file a tax return; preparation by Department - 20 percent penalty. IC 6-8.1-10-3

Failure to file a tax return; fraudulent intent to evade tax - 100 percent penalty. IC 6-8.1-10-4

Bad checks penalty as specified under IC 6-8.1-10-5

Failure to file information return as specified under IC 6-8.1-10-6
DOR: Tax Types/Various Rates - Penalties
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