Bill Requires Notification Of Tax Overpayments

The Ohio House has approved a bill requiring business and individual taxpayers to be notified of overpayments. The measure allows allow Ohio's tax commissioner to give automatic refunds or credits toward future taxes - similar to when consumers overpay on their utility bills. Under current law, the Ohio Department of Taxation may refund the overpayments by request during the first three or four years. The bill updates the law to ensure taxpayers are notified no later than 60 days before the end of the three- or four-year period. The measure now goes to the Ohio Senate.