Ohio Tax Amnesty Program Ends Due to Fiscal Outlook

Ohio’s Office of Budget and Management (OMB) has determined the state will not offer an amnesty program in 2023 as a result of Ohio’s current financial position. This determination was made based on as January 2023 Bill known as HB45, which required the OMB to determine by November 1, 2023, if a tax amnesty program was necessary in the state.

The original bill provided for an amnesty program so the state could collect additional revenue to pay for expenses that normally would come from Ohio’s general fund. The October 10th state financial report showed revenue exceeding the projected amount by 0.8%, which lead the OMB to determine the amnesty program was unnecessary.

Amnesty programs are an important thing to keep an eye on for taxpayers. There are many benefits to participating, including waived penalties and the ability to become compliant with tax obligations before an audit. However, in cases like this one, a program may not end up being established, which would require taxpayers to pursue alternative strategies in their quests for compliance, such as a Voluntary Disclosure Program. (Ohio H.B.45, effective January 6, 2023, and State of Ohio Monthly Financial Report October 10, 2023)

Posted on November 14, 2023