Sec. 20. (a) Notwithstanding any other provision of this chapter or IC 6-8.1, if, before the end of the time period within which the department may take an action under this chapter:
(1) in the case of a partnership or tiered partner that has more than ten thousand (10,000) direct owners, the department shall extend the time period one (1) time by sixty (60) days upon written request of the partnership or tiered partner, regardless of whether the department signs the extension;
(2) in the case of an action required to be taken with regard to a partnership under this chapter, the department and the partnership agree to extend that period, the period may be extended according to the terms of a written agreement signed by both the department and the partnership; and
(3) in the case of an action required to be taken with regard to a tiered partner, direct partner, or indirect partner under this chapter, the department and the tiered partner, direct partner, or indirect partner, as applicable, agree to extend that period, the period may be extended according to the terms of a written agreement signed by both the department and the tiered partner, direct partner, or indirect partner, as appropriate.
(b) If an extension is entered into under subsection (a), the request for automatic extension or agreement must contain:
(1) the date to which the extension is made; and
(2) a statement that the person or entity agrees to preserve the person's or entity's records until the extension terminates.
(c) If an extension is entered into under subsection (a), the applicable deadlines and statute of limitations for any actions arising from an action required by a partnership, tiered partner, direct partner, or indirect partner shall be extended in a manner consistent with the extension under subsection (a).
(d) The department and a partnership, tiered partner, direct partner, or indirect partner may enter into more than one (1) extension agreement under this section.
(e) The department may, by rules adopted under IC 4-22-2 or by guidelines published in the Indiana Register, provide for automatic extensions or relief from liability and reporting for certain situations. The following apply:
(1) In the case of an automatic extension, the extension shall be considered signed by both the department and the partnership, tiered partner, direct partner, or indirect partner before the time the department may take an action under this section. In addition, the partnership, tiered partner, direct partner, or indirect partner shall preserve the person's or entity's records until the automatic extension terminates.
(2) In the case of relief from liability, such relief shall be granted only under the situations specifically granted by the rules or guidelines.
(3) The department may adopt rules or guidelines to establish a de minimis amount upon which a taxpayer shall not be required to comply with specified provisions of this chapter.
As added by P.L.159-2021, SEC.18. Amended by P.L.137-2022, SEC.51.
Structure Indiana Code
Chapter 4.5. Partnership Audit and Administrative Adjustments
6-3-4.5-4. Partnership's Right to Protest and Appeal
6-3-4.5-5. Report of Partnership Adjustments; Timing; Protest; Appeal; Settlement Agreement
6-3-4.5-7. Partner Level Adjustments Report; Assessment; Adjustments to Tax Attributes
6-3-4.5-10. Reporting and Payment Requirements; Tiered Partners; Rules
6-3-4.5-11. Procedures; Alternative Reporting and Payment Method; Application; Timing
6-3-4.5-12. Irrevocable Election; No Deduction or Credit; Other State or Local Tax Jurisdictions
6-3-4.5-13. Designation of a State Partnership Representative; Qualifications
6-3-4.5-14. Changes to a Report of Final Partnership Adjustments; Timing
6-3-4.5-15. Reports; Proposed Assessment; Timing; Protest; Appeal
6-3-4.5-19. Remitting Payment on Behalf of a Partner; Claim for Refund