The bill introduced by Senator Schaffer aims to amend sections 5747.15 and 5751.06 of the Revised Code and to enact a new section, 5739.125, which provides a waiver of penalties for taxpayers who fail to file certain tax returns when no tax is due. Specifically, the new section 5739.125 states that the tax commissioner shall not impose any penalties or interest for the failure to file a return if no tax amount is due. This provision is intended to alleviate the burden on taxpayers who may otherwise face penalties for non-filing in situations where they owe no taxes.

Additionally, the bill includes amendments to existing sections 5747.15 and 5751.06, which outline various penalties for failing to file or pay taxes. Notably, the amendments include a provision that mirrors the new section 5739.125, ensuring that no penalties or interest will be imposed for failure to file a return if no tax is due. The bill also repeals the existing versions of sections 5747.15 and 5751.06, thereby streamlining the tax code to reflect these changes. The amendments and enactments will apply to returns or reports required to be filed on or after the effective date of the bill.

Statutes affected:
As Introduced: 5747.15, 5751.06