A. Date and requirement for filing.
1. On or before April 30 of the year following the effective date of the ordinance and each year thereafter, every person subject to the provisions of divisions (A)(1) through (A)(5) of § 40.03, inclusive, shall, except as hereinafter provided, make and file with the Commissioner, a return on a form prescribed by and obtainable upon request from the Commissioner, whether or not a tax be due.
2. If the return is made for a fiscal year or any period less than a year, said return shall be made within four months from the end of each fiscal year or other period.
3. Every person subject to the provisions of § 40.03 shall, except as hereinafter provided, file a return setting forth the aggregate amount of salaries, wages, commissions, and other personal service compensation, net profits from business, or other activities, including the rental from use of real and personal property, and other income taxable under the ordinance, received for the period covered by the return and such other pertinent facts and information in detail as the Commissioner may require.
4. Where an employee's entire earnings for the tax period as paid by an employer or employers, and the 1.5% tax thereon has in each instance been withheld and deducted by the employer or employers from the gross amount of the entire earnings of such employee/taxpayer, and where the employer of such employee has filed a report or return in which such employee's entire and only earnings are reported to the Commissioner, and where such employee has no taxable income other than such earnings and the tax so withheld has been paid to the Commissioner, such employee need not file a return.
5. An employee who is permitted to deduct business expenses from gross wages, salaries or commissions must file a return in order to claim such deductions even though all or part of such wages, salaries, or commissions are subject to withholding.
6. Any taxpayer who received taxable income not subject to withholding under the ordinance must file a return.
7. Any taxpayer having income, wages, or other compensation for which a return must be filed, and also having net profits from a business covering the same or a different period, is required to file only one return.
8. Trustees of active trusts are required to file returns and pay the tax on the taxable income thereof.
9. Except as provided for herein, the tax is on the partnership or association as an entity whether resident or nonresident and a return is required disclosing the net profits allocable to the village and the tax paid thereon. However, any resident partner or resident member of an unincorporated entity is required to make a return and pay the tax in accordance with Article III.A.3.b..2 of these regulations.
10. A husband and wife may, in any tax year, elect to file separate or joint returns.
11. Operating losses from business or professional activities, the profits of which would be taxable under the ordinance, may be offset against salaries, wages, commissions, and other personal service compensation or against net profits from other business or professional activities. To the extent that such losses are offset they shall not be allowable as an operating loss carry forward under § 40.03(C) or Article III.C of these regulations.
B. Information required and reconciliation with federal returns.
1. In returns filed hereunder, there shall be set forth the aggregate amount of salaries, wages, bonuses, incentive payments, commissions, fees, and other compensation subject to the tax earned from each employer, taxable net profits, and other pertinent information as the Commissioner may require.
2. Where figures of total income, total deductions, and net profits are included as shown by a federal return, any items of income as are not subject to the village tax and unallowable expenses shall be eliminated in determining net income subject to the village. In the absence of records showing the actual unallowable expenses, such expenses shall be determined in accordance with Article III.A.6.c..1.07 of these regulations. The fact that any taxpayer is not required to file a federal tax return does not relieve him from filing a village tax return.
3. If a change in federal income tax liability, made by the federal internal revenue service, or by a judicial decision, results in an additional amount of tax payable to the village, a report of such change shall be filed by the taxpayer within three months after receipt of the final notice from the federal internal revenue service or final court decision.
4. If a change in federal income tax liability results in a reduction of taxes owed and paid to the village a claim for refund shall be filed with the Commissioner as prescribed in § 40.05 and Article XI.B. of these regulations.
C. Extensions.
1. Upon written request of the taxpayer made on or before the date for filing the return, and for good cause shown, the Commissioner may extend the time for filing such return for a period of not to exceed three months, or to one month beyond any extension requested of or granted by the federal internal revenue service. Whenever he deems such necessary, the Commissioner may require a tentative return accompanied by payment of the estimated tax. No penalty or interest will be assessed in those cases in which the return is filed and the final tax paid within the period as extended, provided that all other filing and payment requirements of the ordinance have been met.
2. Information returns, schedules, and statements needed to support tax returns are to be filed within the time limits set forth for filing the tax returns.
D. Payment with return.
1. The taxpayer making a return shall, at the time of the filing thereof, pay to the Commissioner the amount of taxes shown as due thereon, provided, however, that where any portion of the tax so due shall have been deducted at the source pursuant to the provisions of § 40.06, or where any portion of said tax shall have been paid by the taxpayer pursuant to the provisions of § 40.07, or where an income tax has been paid to another municipality, credit for the amount so paid in accordance with § 40.14, shall be deducted from the amount shown to be due and only the balance, if any, shall be due and payable at the time of filing said return.
2. A taxpayer who has overpaid the amount of tax to which the village is entitled under the provisions of the ordinance may have such overpayment applied against any subsequent liability hereunder or, at his election indicated on the return, such overpayment (or part thereof) shall be refunded, provided that no additional taxes or refunds of less than $1 shall be collected or refunded.
E. Amended returns.
1. Where necessary, an amended return must be filed in order to report additional income and pay any additional tax due, or claim a refund of tax overpaid, subject to the requirements and/or limitations contained in §§ 40.11 and 40.12. Such amended return shall be on a form obtainable on request from the Commissioner. A taxpayer may not change the method of accounting or apportionment of net profits after the due date for filing the original return.
2. Within three months from the final determination of any federal tax liability affecting the taxpayer's village tax liability, such taxpayer shall make and file an amended village return showing income subject to the village tax based upon such final determination of federal tax liability, and pay any additional tax shown due thereon or make claim for refund of any overpayment.