The Indiana Department of Revenue (DOR) has made the process of closing a business account easier on Hoosiers. Until December 2018, the DOR required businesses to provide certain documents to verify the closure of a business, such as bank records or proof of dissolution. This extra step, unfortunately, resulted in many businesses never closing their accounts with the DOR. To improve the process, the DOR now allows businesses to close their tax accounts by simply filing a Business Tax Closure Request (Form BC-100).
The DOR simplified the process after analyzing the number of inactive businesses that never officially closed their accounts, which often resulted in unnecessary billing for estimated taxes owed. By reducing the amount of avoidable bills being sent, this measure will save businesses and the state time and money.
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