Failure to file information return; penalty
Sec. 6. (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, a penalty of ten dollars ($10) for each failure to file a
timely return, 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.
As added by Acts 1980, P.L.61, SEC.1. Amended by P.L.18-1994,
SEC.45.
Last modified: May 28, 2006