COLUMBUS, Ohio (AP) — Businesses and taxpayers would be
notified when they overpay their taxes under a bill passed by the Ohio
House.
The measure was passed Wednesday and now goes to the Senate.
It
would allow Ohio’s tax commissioner to give automatic refunds or
provide credit toward future taxes if a taxpayer has overpaid — similar
to when consumers overpay on their utility bills.
Under current
law, the Ohio Department of Taxation can refund the overpayments, but
only by request and only during the first three or four years, within
the statute of limitations. The bill updates the law to ensure that
taxpayers are notified no later than 60 days before the end of that
limited three- or four-year period.
The state currently isn’t required to notify taxpayers if they have overpaid.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.
COLUMBUS, Ohio (AP) — Businesses and taxpayers would be
notified when they overpay their taxes under a bill passed by the Ohio
House.
The measure was passed Wednesday and now goes to the Senate.
It
would allow Ohio’s tax commissioner to give automatic refunds or
provide credit toward future taxes if a taxpayer has overpaid — similar
to when consumers overpay on their utility bills.
Under current
law, the Ohio Department of Taxation can refund the overpayments, but
only by request and only during the first three or four years, within
the statute of limitations. The bill updates the law to ensure that
taxpayers are notified no later than 60 days before the end of that
limited three- or four-year period.
The state currently isn’t required to notify taxpayers if they have overpaid.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.