City of Powell Income Tax Code - The City of Powell

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taxpayer is hereby directed and required to furnish within ten (10) daysfollowing a written request by the Finance Director the means, facilities andopportunity for making such examinations and investigations as are herebyauthorized.(b)(c)(d)The Finance Director is hereby authorized to order any person presumed tohave knowledge of the facts to appear before him and may examine suchperson, under oath, concerning any income which was or would have beenreturned for taxation or any transaction tending to affect such income. For thispurpose, the Finance Director may compel the production of books, papers,records and federal and State income tax returns and the attendance of allpersons before him, whether as parties or witnesses, whenever he/shebelieves such persons have knowledge of such income or information pertinentto such inquiry.The refusal to produce books, papers, records and copies of federal and Stateincome tax returns, or the refusal to submit to such examination by anemployer or person subject or presumed to be subject to the tax, or by anofficer, agent or employee of a person subject to the tax or required to withholdtax, or the failure of any person to comply with the provisions of this section orwith an order or subpoena of the Finance Director authorized hereby, shall bedeemed a violation of this chapter, punishable as provided in this chapter.Every taxpayer shall retain all records necessary to compute his or her taxliability for a period of six (6) years from the date his or her return is filed or thewithholding taxes are paid.181.11 TAX INFORMATION CONFIDENTIALAny information gained as the result of any returns, investigations hearing or verificationsrequired or authorized by this chapter shall be confidential, except for official tax purposes, orexcept in accordance with proper judicial order, or except as hereinafter provided. TheFinance Director may furnish the Internal Revenue Service, Treasury Department of theUnited States, the Finance Director of Ohio, and the duly authorized income Finance Directorof any other city or state with copies of the returns filed. The Finance Director is alsoauthorized to enter into agreements for the exchange of any information with any of theforegoing federal, State or Municipal officials. Any person divulging information, except asherein before authorized, shall, upon conviction thereof, be deemed guilty of a third degreemisdemeanor and shall be subject to a fine of not more than five hundred dollars ($500.00)or imprisonment for not more than six months, or both. Each disclosure shall constitute aseparate offense.181.12 COLLECTION OF UNPAID TAXES(a)All taxes imposed by this chapter shall be collectible together with any interestand penalties thereon, by suit, as other debts of like amount are recoverable.16
(b)(c)(d)The Finance Director is authorized to institute civil law suits to collectdelinquent taxes due and owing the City by virtue of the provisions of thischapter. The Finance Director is authorized to waive penalties and interest andcompromise tax liability and the right to accept waiver of State Statutes ofLimitation.Except in the case of fraud, omission of twenty-five percent of income subjectto this tax or failure to file a return, an additional assessment shall not be madeafter three years from the time the return was due or filed, whichever is later. Inthe case of fraud, omission of 25% or more of income subject to this tax, orfailure to file a return, all additional assessments shall be made and allprosecutions to recover Municipal income taxes and penalties and interestthereon shall be brought within six (6) years after the tax was due or the returnwas filed, whichever is later. However, in those cases in which theCommissioner of Internal Revenue and the taxpayer have executed a waiver ofthe Federal statute of limitations, the period within which an additionalassessment may be made by the Finance Director shall be one year from thetime of the final determination of the Federal tax liability.Taxes erroneously paid shall not be refunded unless a claim for refund is madewithin three years from the date when such payment was made or the returnwas due or within three months after final determination of the Federal taxliability. In addition, the following shall apply regarding refunds of tax withheldfrom non-qualified deferred compensation plans (NDCP):1. A taxpayer may be eligible for a refund if the taxpayer has suffered aloss from a NDCP. The loss will be considered sustained only in thetaxable year in which the taxpayer receives the final distribution ofmoney and property pursuant to the NDCP. Full loss is sustained if nodistribution of money and property will be made by the NDCP.2. A taxpayer who receives income as a result of payments from a NDCP,and that income is less than the amount of income deferred to the NDCPand upon which municipal tax was withheld, then a refund will be issuedon the amount representing the difference between the deferred incomethat was taxed and the income received from the NDCP. If different taxrates applied to the tax years in which deferrals, a weighted average ofthe different tax rates will be used to compute the refund amount.3. Refunds shall be allowed only if the loss is attributable to the bankruptcyof the employer who had established the NDCP, or the employee’sfailure or inability to satisfy all of the employer’s terms and conditionsnecessary to receive the nonqualified compensation.(e)Income tax that has been deposited with the City, but should have beendeposited with another municipality, is allowable by City as a refund but issubject to the three-year limitation on refunds. Income tax that should havebeen deposited with the City, but was deposited with another municipality, shallbe subject to recovery by the City. The City will allow a non-refundable credit17
Page 2 and 3: profit, having a place of business
Page 4 and 5: (bb)(cc)(dd)“TAXABLE INCOME” me
Page 6 and 7: E. On the net profits of all reside
Page 8 and 9: 2. Wages, salaries and other compen
Page 10: (c)The taxpayer shall file the retu
Page 13 and 14: withheld for the final quarter was
Page 15: 4. Compliance with sections (h)2 an
Page 19 and 20: 4. A penalty shall not be assessed
Page 21 and 22: After such approval, such rules, re

City of Powell Income Tax Code - The City of Powell

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