Regulatory Analysis
The IRS has updated the Instructions for the Requester of Forms W-8BEN, W-8BEN-E, W-8ECI, W-8EXP, and W-8IMY. There are a number of changes from the previous revision of the Instructions: Chapter 3 Withholding Changes Withholding agents must also withhold under section 1443 on certain payments to foreign tax-exempt organizations that are unrelated business taxable […]
Beginning January 1, 2019, the State of Georgia will require online retailers who meet certain economic thresholds to collect and remit sales tax to the Georgia Department of Revenue. Retailers who: (1) exceed $250,000 in gross revenue from sales of tangible personal property into Georgia in the previous or current calendar year or (2) make 200 […]
Vermont recently published an updated version of Form MTT-600, ACH Credit Processing Guide. These instructions are used by filers to assist in setting up and submitting payments using the ACH Credit system. A number of updates were published in the most recent version of this form, which are as follows: A section was added […]
The Colorado Department of Revenue has revised its publication FYI General 11: Colorado Civil Tax Penalties and Interest. There were no changes to this publication relative to withholding taxes. The only substantive change was an addition to the disclaimer at the end of the publication explaining how to seek additional guidance through a Private Letter […]
The Pennsylvania Department of Revenue updated Form PA-100, the Business Enterprise Registration Form and Instructions. The fee for background investigations of owners or officers has increased from $10 to $22. Additionally, the instructions have added additional clarification for Section 9, "Establishment Employment Information," Part 1. The new information states that "[a]ny payor/lessee required to […]
On April 16, 2018, the European Council approved Italy's derogation request from Articles 218 and 232 of the EU VAT Directive, bringing Italy one step closer to implementing its mandatory e-Invoicing requirement. Article 218 requires that Member States accept invoices in paper or electronic form. Article 232 provides that electronic invoice can only be used […]
The Director of the Dominican Tax Administration (DGII) announced that they will begin implementing an electronic invoicing (e-Invoicing) mandate, with a pilot study kicking off in January 2019. E-invoicing requirements vary from country to country and much of the relevant details on the Dominican approach are yet to be learned. We expect additional details to […]
On April 13, 2018, the Kentucky Legislature voted to override the Governor’s veto of H366. Effective July 1, 2018, this bill makes taxable a wide range of services that were previously exempt. Specifically, the bill revises the definition of “sales price” and “gross receipts” to include the amount charged for labor or services rendered in […]
Wisconsin enacted legislation which creates a one-time sales tax holiday between August 1, 2018 and August 5, 2018. State sales tax will not be charged on certain sales of school supplies where each item is $75 or less, clothing where each item is $75 or less, computers where each item is $750 or less and computer […]
The IRS has released the 2018 Form 1099-PATR and Instructions. Form 1099-PATR is used to report taxable distributions received from cooperatives. Form Changes No changes to the form Instructions Changes The following credits have expired. The cellulosic biofuel fuels credit (including second generation biofuel) (Form 6478). The Indian employment credit (Form 8845). The biodiesel and […]
Ohio has published the Scan Specifications for the 2018 Ohio IT 3. Form IT 3 is the Transmittal of Wage and Tax Statements forms. The software developer identification is now a two-digit vendor registration number (VRN), rather than a three-digit VRN. Forms must be submitted for approval by December 14, 2018. To read […]
The New Mexico Taxation and Revenue Department has updated the penalty and interest rate for Quarter 2 of 2018. The rate will be 5% annually, from April 1, 2018, to June 30, 2018. This is an increase from 4 percent in the previous quarter. To view the interest rate, as well as past rates, please […]
The IRS has released Publication 505, Tax Withholding and Estimated Tax. This publication is used to inform taxpayers of the withholding rates for the given tax year, estimated taxes, credits for withholding and estimated taxes for the prior year, and the underpayment penalty for the prior year. There are a number of changes from […]
The Oklahoma Tax Commission has published the 2018 withholding tax tables as well as some additional Frequently Asked Questions relative to W-2 and W-3 filing. The only change to the Withholding Tax Tables publication is that employers should use the number of withholding allowances claimed on the Oklahoma Form OK-W-4, rather than the number of allowances on the […]
Colorado recently published an updated version of DR 1098, Colorado Income Tax Withholding Tables for Employers. This guide provides instructions to employers on how to calculate and file income withholding tax reports, along with withholding tables and sample documents for employers to review. The changes to this most recent version of DR 1098 were […]
The California Lottery recently published an updated version of their Winner’s Handbook, which provides information to lottery winners on a variety of issues relating to their winnings – including tax information reporting. There is one change to the most recent version of the Winner’s Handbook, which is as follows: The withholding rate on lottery […]
The Indiana Department of Revenue has announced a one-time grace period for filing the Annual Withholding Reconciliation (Form WH-3) for 2017 withholding tax information, which was due on January 31, 2018. The deadline has been extended for this year only to April 30, 2018 in order to encourage businesses to be in compliance.
The Oregon Secretary of State Corporation Division has revised its Employer’s Guide, which contains basic information and a general checklist to guide businesses/employers through the process of hiring, paying, reporting on, and withholding taxes from employees. There are several revisions and clarifications to this publication of which filers should be aware: Employers are now required […]