(A) Interest. Except as provided in division (C) below, all taxes imposed and all monies withheld, or required to be withheld, by employers under provisions of the Ordinance and remaining unpaid after they have become due shall bear interest, in addition to the amount of the unpaid tax or withholdings, at the Federal short-term interest rate plus 3% per annum or fraction thereof.
(B) Penalties. In addition to interest as provided in division (A) above, penalties based on the unpaid tax are hereby imposed as follows: For failure to pay taxes due, 1% per month or fraction thereof; or $25, whichever is greater. In addition to any other interest or penalties, there shall be a penalty of $100 imposed for failure to file a return when due, whether or not tax is due.
(C) Exceptions.
(1) No penalty shall be assessed on additional taxes found on audit to be due when a return was timely filed in good faith and the tax paid thereon within the prescribed time.
(2) In the absence of fraud neither penalty nor interest shall be assessed on any additional taxes resulting from a federal audit for federal income tax purposes provided an amended return is filed and the additional tax is paid within three months after final determination of the federal tax liability.
(3) A taxpayer or employer shall have 30 days after receipt of notice of any proposed imposition of interest and penalties within which to file a written protest or explanation with the Administrator. Upon filing of a written protest or explanation, the Administrator shall withdraw the assessment or he shall adjust or reaffirm the assessment.
(D) Appeal from assessment. Upon appeal, the Local Board of Tax Review may abate penalty, interest, or both.
(Ord. O-2015-28, passed 11-23-2015; Am. Ord. passed 9-9-2019)