IRS Reopens Backlogged Income Verification ServiceThe IRS has reopened its Income Verification Express Service (IVES) program during the partial federal government shutdown. IVES is a user fee-based program that enables mortgage lenders and others wi...
Proposed Regs Provided for Code Sec. 163(j) LimitThe IRS has proposed regulations on the limitation on the business interest expense deduction under Code Sec. 163(j), as amended by the Tax Cuts and Jobs Act (TCJA) ( P.L. 115-97). The IRS also has is...
New Tax Reform-Related Regs May Appear SoonA top Senate tax writer has said additional proposed regulations for the new tax code are expected to be released soon. Treasury Secretary Steven Mnuchin provided Republican senators with an update on...
Tax Court Adopts Amended, New Practice RulesThe Tax Court adopted amendments to its electronic filing and paying rule. The adopted rules cover petitions and other documents that are currently not filed electronically. These rules were first pro...
TIGTA Presents Semiannual Report to CongressThe Treasury Inspector General for Tax Administration (TIGTA) has released its semiannual report to Congress, highlighting its audits, investigations, inspections and evaluations. The report includes ...
AL - Town of Oakman increased local ratesThe town of Oakman increased the local Alabama sales and use tax rates for the following from 3% to 4%, effective December 1, 2018:general items;admissions to places of amusement and entertainment;ret...
AZ - Local rate changes announcedUpcoming changes to local transaction privilege taxes and other fees in Arizona have been announced.GuadalupeEffective February 1, 2019, Guadalupe adds the following taxes at the rate of 4%:Use Tax Fr...
CA - Guidance on disaster loss claims issuedThe California Franchise Tax Board has issued publication informing taxpayers about disaster claims against their corporate and personal income tax liabilities. The publication explains who is eligibl...
DC - DC passes permanent sales tax nexus billDistrict of Columbia passed a permanent sales tax nexus bill that requires remote sellers to collect DC sales tax if they have economic nexus, effective January 1, 2019. The Act includes sales thresho...
ID - Changes for 2018 tax filing season discussedFor corporate and personal income tax purposes, the Idaho State Tax Commission (commission) has issued a tax update informing taxpayers that it has started processing 2018 tax returns, and the deadlin...
KY - New tax filing form launchedKentucky reminds employers that the Department of Revenue (department) has a new streamlined process that replaces the mailing of paper Forms W-2, W-2G, and 1099s. The employers will now need to submi...
MD - Changes for 2019 tax filing season announcedFor income tax purposes, several changes will take effect for the 2019 tax filing season.Exemptions and DeductionsFor tax year 2018, the standard deduction is increased to a maximum value of $2,250 fo...
MI - Reminder issued for annual returnThe Michigan sales, use, and withholding tax return is due by February 28, 2019. However, W-2s and 1099s should be submitted to the state Treasury Department by February 7, 2019. The notice can be vie...
MN - Filing tips for tax professionals discussedFor corporate and personal income tax purposes, the Minnesota Department of Revenue (department) has issued a bulletin containing tips for tax professionals on how to prepare for the 2019 filing seaso...
MS - Guidance on effects of TCJA releasedMississippi has issued guidance for personal and corporation income taxpayers on the effects of the Tax Cuts and Jobs Act (TCJA). Mississippi reminds taxpayers that many aspects of the TCJA will not a...
MT - Interest rate increasesA Montana newsletter has announced that the interest rate in effect for individuals, estates, trusts, and pass-through entities is 5%, effective January 1, 2019. The 5% rate applies to:unpaid taxes wh...
NE - Warning provided on tax scamThe Nebraska Department of Revenue has warned taxpayers to be wary of websites purporting to sell sales tax resale certificates.Sales Tax FormsThe department does not charge for sales tax permits, res...
OH - Local rate change announcedOhio has authorized a sales and use tax rate change effective April 1, 2019.Local Rate ChangeGallia county increases its local rate from 7.0% to 7.25%. The notice can be viewed on the department&rsquo...
PA - Pennsylvania tax filing season opensThe Pennsylvania Department of Revenue (department) has announced that the personal income tax filing season for tax year 2018 has opened. All taxpayers who received more than $33 in total gross taxab...
SD - IRC conformity bill passes senateThe South Dakota Senate passed legislation that would update the bank franchise (income) tax Internal Revenue Code conformity date. The new IRC conformity date would be January 1, 2019.The bill previo...
WA - Municipal annexations announcedBeginning April 1, 2019, the following Washington cities have imposed annexations that may impact businesses’ sales and use tax rates: Bellingham, College Place, Elma, Ephrata, Kalama, Leavenwor...
WV - Royalty rates discussedThe West Virginia State Tax Department has issued an administrative notice discussing the determination of 2019 royalty rates for producing coal and other natural resources, exclusive of oil and natur...