Indiana Code Title 6. Taxation § 6-8.1-10-6

Sec. 6. (a) As used in this section, “information return” means the following when a statute or rule requires the following to be filed with the department:

The term does not include form IT-20FIT, IT-20S, IT-20SC, IT-41, or IT-65.

(b) If a person fails to file an information return required by the department, or fails to electronically file an information return that is required by the department to be filed in an electronic format, a penalty of ten dollars ($10) for:

not to exceed twenty-five thousand dollars ($25,000) in any one (1) calendar year, is imposed.

(c) For purposes of this section, the filing of a substantially blank or unsigned return does not constitute a return.

(d) Beginning after December 31, 2024, a person that has been granted penalty relief under section 2.1(l) of this chapter for failure to file a timely and complete form IT-65 partnership return shall not be subject to a penalty under this section for failure to file the information return Schedule K-1 of form IT-65 for which penalty relief was granted.