Regulatory Analysis

The IRS recently released an updated version of Form 8809, Application for Extension of Time to File Information Returns. This form is used to apply for an extension to file information returns including Forms W-2, 1095, 1098, and 1099. There are two updates to the form, which are as follows: Instructions were added indicating that […]

The IRS recently released a new version of Publication 1220 for Tax Year 2019. This publication contains instructions and specifications for electronic filing of information returns with the IRS. There are several updates to the latest version of this publication, which include the following: Form 1098-F: specifications for this form type along with applicable record […]

As long anticipated, Hungary has released the finalized specifications for version 2.0 of the invoice data reporting schema. At this time bilingual XSD documentation and Hungarian-only API documentation have been released. Tax authorities have indicated that full testing of the new schema is expected to be available in the test environment by the end of […]

The IRS has released the business rules and specifications for electronic reporting of tax year 2019 healthcare coverage information in 2020. As a reminder, although the individual mandate penalty was zeroed out, the employer mandate and its reporting obligations and penalties remain in effect. There are no changes to the Form-to-Schema Crosswalks; however, there are […]

Utah has published a revised version of Form TC-69, Utah State Business and Tax Registration – used for all tax types including employer and mineral production withholding. The registration form itself has been substantially abbreviated. Instead of completing sections 2, 3, 4, and 14, registrants will instead attach schedule TC-69WTH. Payroll services and third-party preparers filing […]

The Albanian Ministry of Finance and Economy has launched a public consultation that would require real-time reporting of all business-to-consumer (B2C) transactions to the tax authority from January 1, 2020. The bill would also require electronic invoicing for business-to-business (B2B) and business-to-government (B2G) transactions from January 1, 2021. Public consultation will last through August 2019.

The Kenyan Revenue Authority (KRA) has informed taxpayers that in the upcoming months it will become mandatory for businesses with revenues above 5 million Kenyan Schillings (Around 48,470 dollars) to use electronic tax registers that communicate sales data in real time to the tax authorities. The announcement comes after KRA started a successful pilot program […]

[August 14, 2019] West Virginia recently enacted legislation that creates an annual back to school sales tax holiday beginning in 2021. The following items will be exempt from sales tax during the holiday: Items of clothing priced $125 or less; School supply items priced $50 or less; School instructional material priced $20 or less; Laptop and […]

The New Mexico Taxation and Revenue Department recently published an updated version of Publication FYI-102, Information for New Businesses. This publication covers a number of subjects related to registration, filing, and payment of business taxes in New Mexico including withholding tax. There is one change of note in this most recent release, which provides a […]

Rhode Island has announced that it has implemented a health insurance individual mandate, requiring all Rhode Island residents to maintain health insurance coverage for all months beginning January 1, 2020. Penalties will be imposed in 2021 when submitting individual tax returns for Tax Year 2020. The Individual Mandate will entail an employer reporting requirement. Employers will […]

[August 9, 2019] Effective November 2, 2019, most taxpayers in Colombia will be required to transmit electronic invoices pursuant to the schema defined by Universal Business Language (UBL) Version 2.1. Specifically, the Colombian Tax Administration (DIAN) issued Resolution 000020/2019 establishing the schedule for complying with the new pre-clearance e-invoicing requirements and for upgrading to UBL […]

New Jersey has released additional information pertinent to employer filing obligations under the new health insurance individual mandate – specifically addressing the obligations of out-of-state employers of New Jersey residents. Out-of-State employers who employ New Jersey residents have the same filing requirements as in-State businesses. These requirements are not limited to businesses that withhold New Jersey payroll […]

The Social Security Administration recently released the EFW-2 and EFW-2C publications, which contains the electronic filing specifications for filing Form W-2 and W-2 corrections. While the publications indicate there are no record layout changes for tax year 2019, there are several updates that filers should be aware of for the upcoming tax year. The Social […]

The Oregon Department of Revenue recently released an updated version of the 2019 Combined Payroll Tax Report, Publication 150-211-155. This publication provides information to Oregon businesses relating to payroll tax payment and reporting, and includes certain forms and instructions related to registering a business with the Department for tax purposes. There are a number of […]

North Carolina provided notice that it will grant a general, automatic waiver for the electronic filing requirement of annual forms NC-3, W-2, and 1099 with the Department of Revenue.  Note that the waiver does not affect the deadline to file; annual tax information filings must be completed by January 31, 2020. In addition, the notice […]

The IRS recently released Publication 1179 for Tax Year 2019. This publication contains the general rules and specifications for substitute information return forms, including Forms 1099 and 5498. There were several updates made to the publication for the upcoming tax year 2019, which include the addition of Forms 1098-F, 1099-LS, and 1099-SB to the numerous […]

The Iowa Department of Revenue has issued proposed amendments to existing regulations aimed at providing solutions to difficulties encountered when filing information returns in prior tax years. Specifically addressing the filing of forms W-2 and 1099, the proposed amendments aim to change the filing requirements for these forms. These proposed changes include: Amending the existing […]

The New Mexico Department of Taxation and Revenue recently released Bulletin B-400.4, publishing the effective interest rates for late payment of tax due. This bulletin is released on a periodic basis during the course of the year to announce interest rates applicable for specific time frames. The interest rate for the period between July 1, […]