May 12, 2005
FOR IMMEDIATE RELEASE

Indiana Governor Signs Tax Amnesty Bill. Governor Mitch Daniels signed House Enrolled Act 1004 on May 12, 2005, authorizing the Indiana Department of Revenue ("IDOR") to establish a tax amnesty program providing for the waiver of unpaid interest, penalties, and fees upon payment of unpaid listed taxes for tax periods ending before July 1, 2004. As a result, the IDOR is offering a tax amnesty period from September 15, 2005 to November 15, 2005.

Tax amnesty is available for taxpayers who did not file Indiana tax returns, under-reported their tax liability, claimed excessive deductions, or did not pay previously assessed taxes, interest, penalties, or fees for periods ending prior to July 1, 2004. Taxpayers that are eligible to participate in the amnesty program but fail to participate are subject to a doubling of the penalty for audit assessments related to periods covered by the program.

If you have any questions regarding this information, please contact Mr. G. Brint Ryan, Managing Principal of Ryan & Company, at 972.934.0022. Mr. Ryan can also be reached via e-mail.

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