(A) All taxes imposed and all monies withheld or required to be withheld by employers under the provisions of this subchapter and remaining unpaid after they become due shall bear interest at the rate of 1½% per month or fraction thereof.
(B) In addition to interest as provided in division (A) of this section, penalties based on the unpaid tax are hereby imposed as follows:
(1) For failure to file a village income tax return when due, a late filing fee of $25;
(2) For failure to submit a return or pay taxes due, other than taxes withheld: 1½% per month plus $5 per month; and
(3) For failure to remit taxes withheld from employees: 5% per month, plus $5 per month.
(C) A penalty shall not be assessed on an additional tax assessment made by the Administrator when a return has been filed in good faith and the tax paid thereon within the time prescribed by the Administrator; provided, that in the absence of fraud, neither penalty or interest shall be assessed on any additional tax assessment resulting from a federal audit, providing an amended return is filed and the additional tax is paid within three months after final determination of the federal tax liability.
(D) Upon recommendation of the Administrator, the Board of Review may abate penalty or interest, or both, or upon an appeal from the refusal of the Administrator to recommend abatement of penalty and interest, the Board may nevertheless abate penalty or interest, or both.
(Ord. 623, passed 11-16-71; Am. Ord. 646, passed 10-2-73; Am. Ord. 721, passed 8-4-81; Am. Ord. 13-2001, passed 5-21-01; Am. Ord. 22-02, passed 9-3-02)