Metro and the County have announced that they will be forgiving penalties that were previously assessed on returns for the Metro Supportive Housing and County Pre-School For All taxes that came on line for 2021. Officials indicated that because these are new taxes, many taxpayers were not aware of the new requirements and failed to file the forms. Also, some of the major tax software providers are still not supporting these forms. As a result, for tax year 2021 (returns and payments that were due on April 18, 2022), all penalties and interest will be waived for all taxpayers regardless of their individual circumstances. Taxpayers who fail to pay the principal tax owed for tax year 2021 after being notified by the Revenue Division may have their penalties and interest reinstated if they continue to refuse to pay the tax.
For tax year 2022, taxpayers who were required to make quarterly estimated payments (those who owe more than $1,000 for tax year 2022) will have their quarterly underpayment interest waived. All taxpayers will also have any underpayment penalty (but not late filing penalty or late payment penalty) waived for tax year 2022 only.
All other penalties and interest associated with tax year 2022 and beyond will remain in effect.
For taxpayers who have already paid these penalty and interest items, refunds will be automatically created and issued within 2-4 months.
For tax year 2022, taxpayers who were required to make quarterly estimated payments (those who owe more than $1,000 for tax year 2022) will have their quarterly underpayment interest waived. All taxpayers will also have any underpayment penalty (but not late filing penalty or late payment penalty) waived for tax year 2022 only.
All other penalties and interest associated with tax year 2022 and beyond will remain in effect.
For taxpayers who have already paid these penalty and interest items, refunds will be automatically created and issued within 2-4 months.
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