(a) All taxes imposed by this chapter shall be collectible, together with any interest and penalties thereon, by suit, as other debts of like amount are recoverable. The Director of Finance is authorized, in addition to his other duties, to institute civil lawsuits to collect delinquent taxes due and owing the City by virtue of the provisions of this chapter. The suits shall be brought within three years after the tax was due or the return was filed, whichever is later. However, in the case of fraud, omission of twenty-five percent (25%) or more of income subject to this tax, or failure to file a return, all additional assessments shall be made and all prosecutions to recover municipal income taxes and penalties and interest thereon shall be brought within six (6) years after the tax was due or the return was filed, whichever is later. The Director is authorized to waive penalties and interest and compromise tax liability and the right to accept waiver of State Statutes of Limitations.
(b) In those cases in which the Commissioner of Internal Revenue and the taxpayer have executed a waiver of the Federal Statute of Limitations, the period within which an additional assessment may be made by the Director of Finance shall be one (1) year from the time of the final determination of the federal tax liability.
(Ord. C7-71. Passed 3-1-71. Ord. C27-05. Passed 4-4-05.)