NAC360.446. Assessment of penalty and interest on tax liability; appeal of assessment.

     1. If the Commission determines that the taxpayer has made a good faith effort in complying with the requirements set forth in NAC 360.444, the Department shall not assess the penalty and interest set forth in NRS 360.300 on the entire amount of the tax liability.

     2. If the Commission does not consider the tax liability of a taxpayer to be voluntarily disclosed pursuant to NAC 360.444, the Department shall assess the penalty and interest set forth in NRS 360.300 on the entire amount of the tax liability.

     3. A taxpayer who wishes to dispute the amount of any penalty or interest assessed by the Department pursuant to subsection 1 or 2 must file a written petition with the Director within 45 days after the taxpayer receives a bill from the Department for that amount. The petition must set forth any information that supports the dispute.

     4. The Commission will review any petition filed with the Director pursuant to subsection 3 and determine the amount of any tax, penalty or interest owed by the taxpayer. The Commission will notify the taxpayer of its decision by registered or certified mail, return receipt requested.

     5. The taxpayer must file any additional returns and pay the amount of any tax, penalty or interest that the Commission determines is owed by the taxpayer pursuant to subsection 4 within 60 days after he or she receives the notification from the Commission pursuant to subsection 4.

     (Added to NAC by Tax Comm’n by R079-01, eff. 9-20-2002)