Typically, the Comptroller's office will take the following collection actions to protect the state's interests and collect past due taxes: What happens if I refuse to file required tax reports or pay my past due taxes? All payments are directed to the Comptroller's office and credited to your account. If you get a billing notice from a contracted collection agency, you should remit the balance due in the envelope provided. Private collection services are contracted by the Comptroller's office to collect past due tax accounts. Does the Comptroller's office contract with private collection services to collect taxes due, and what do I do if I get a billing notice from them? You will receive a separate billing notice for each report period that is delinquent. Lastly, it outlines the possible collection actions that the Comptroller may take to collect any delinquent balances. It also explains the process for requesting a hearing if you disagree with the billing notice. This notice will outline how additional penalty and interest will be assessed. The balance is due upon receipt of the notice. If you have past due balances, the Comptroller's office will send you a billing notice requesting that you pay the remaining balance. Once the report is filed, additional interest accrues on any net tax due until the total net tax due is paid in full. Jurisdiction Interest begins to accrue one day after the report is due through the report postmark date. The current interest rate is available on the IFTA page. The interest rate is adjusted each year on January 1.
Interest is assessed on all delinquent taxes for each month or fraction of a month beginning on the first day after the due date. The minimum penalty applies to all late reports including no operations, no tax due and credit reports. The minimum penalty is $50 or 10 percent of your total tax liability, whichever is greater. How do I calculate penalties and interest for past due International Fuels Tax Agreement (IFTA) taxes? This penalty will be assessed even if the taxpayer later files the report and/or if no taxes are due for the reporting period. To obtain the applicable rate for a specific tax period, please refer to the webpage titled Interest on Credits and Refunds and on Tax Due.įor most taxes, a taxpayer who fails to file reports on time will be assessed an additional penalty of $50.00 for each late report. The interest rate is a variable rate determined at the beginning of each calendar year. Statutory interest begins accruing on the 61st day after the due date of a required report. If you are paying the tax after the date referenced on the Notice of Tax/FEE Due, add an additional 10% penalty (for a total of 20%).If you are paying the tax over 30 days late, add a 10% penalty.
If you are paying the tax 1-30 days late, add a 5% penalty.Statutory penalty on past due taxes are calculated as follows: How do I calculate penalties and interest for past due taxes? Please be aware that failure to file or pay a tax report may result in collection actions including, but not limited to, additional late filing penalties, liens and criminal charges. If you fail to file a required tax report, the Comptroller's office will send you an estimated billing with instructions to file a report providing your actual sales data for the estimated period. What happens if I don't file my tax report?
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