§ 6-8.1-10-6 — Failure to file information return; penalty; exceptions

Indiana § 6-8.1-10-6

• Jurisdiction: Indiana
• Art. 8.1: DEPARTMENT OF STATE REVENUE; TAX
• Ch. 10: Penalties and Interest

Text

(a) As used in this section, "information
return" means the following when a statute or rule requires the
following to be filed with the department:
(1) Schedule K-1 of form IT-20S, IT-41, or IT-65.
(2) Any form, statement, or schedule required to be filed with the
department with respect to an amount from which tax is required
to be deducted and withheld under IC 6 or from which tax would
be required to be deducted and withheld but for an exemption
under IC 6.
(3) Any form, statement, or schedule required to be filed with the
Internal Revenue Service under 26 C.F.R. 301.6721-1(g) (1993).
The term does not include form IT-20FIT, IT-20S, IT-20SC, IT-41, or
IT-65.
(b) If a person fails to file an information return required by the
department, or fails to electronically file an information return that is
required by the department to be filed in an electronic format, a penalty
of ten dollars ($10) for:
(1) each failure to file a timely return; or
(2) each failure to electronically file a timely return required by
the department to be in an electronic format;
not to exceed twenty-five thousand dollars ($25,000) in any one (1)
calendar year, is imposed.
(c) For purposes of this section, the filing of a substantially blank or
unsigned return does not constitute a return.
(d) Beginning after December 31, 2024, a person that has been
granted penalty relief under section 2.1(l) of this chapter for failure to
file a timely and complete form IT-65 partnership return shall not be
subject to a penalty under this section for failure to file the information
return Schedule K-1 of form IT-65 for which penalty relief was
granted.
As added by Acts 1980, P.L.61, SEC.1. Amended by
P.L.18-1994, SEC.45; P.L.234-2019, SEC.38; P.L.230-2025,
SEC.92.