Regulatory Analysis
The State of Arkansas will repeal its waste tire fee and impose a new rim removal fee effective January 1, 2018. The waste tire fee was originally imposed on the retail sale of new tires at a rate of $2.00 per tire. The recently enacted legislation repeals that fee and imposes a new fee on […]
The IRS has announced that they will extend the due date for furnishing the 2017 Form 1095-B and Form 1095-C to individuals from January 31, 2018, to March 2, 2018. Because of this automatic extension, the provisions that traditionally allow the IRS to grant an extension of time up to 30 days to furnish Forms […]
Pennsylvania's Department of Revenue recently updated their specifications for electronically-filed Forms W-2, EFW2, formerly MMREF-1. There are no substantive changes from last year's specifications other than the name change. To view the specifications, please follow the link.
Pennsylvania's Department of Revenue recently updated their W-3 Return Quarterly Reconciliation information. There are no substantive changes from last year. To view the W-3 filing requirements, please follow the link.
Pennsylvania's Department of Revenue recently updated the W-2 Employee Wage Records Specifications. The name change to W-2/1099-R Employee Wage/Distribution Records. There are no other significant changes. To view the specifications in full, please follow the link.
Pennsylvania's Department of Revenue recently published the 2017 W-2 transmittal specifications. There is now a requirement to insert a W-2/1099-R Employee Wage/Distribution Record before uploading the REV-1667 (Transmittal) Annual Withholding Statement. No other substantive changes have been made. To view the W-2 transmittal specifications in full, please follow the link.
Pennsylvania's Department of Revenue recently updated Form PA-501, Deposit Statement/ACH Statement. There is no substantive changes from the last update. To view PA-501 specifications in full, please follow the link.
As a result of the recently passed tax reform bill, the Tax Cuts and Jobs Act, the backup withholding rate will be reduced from 28% to 24% effective January 1, 2018. Under Code § 3406, payors are required to deduct backup withholding on certain non-wage payments made to payees for whom an information return […]
Wisconsin has released Publication 166, the Wisconsin Withholding Tax Guide. This publication contains withholding information for Wisconsin employers, and there are a number of changes from the previous revision: The 2017 Wisconsin Act 59 made several changes to W-2 and information return reporting requirements, so now beginning with payments made in 2017: An employer or […]
Puerto Rico has released its 2017 Form 480.7C. This form is traditionally used to report retirement plans and annuities. Because of Hurricane Maria, this form is now being used this year to report eligible distributions related to the hurricane. There are a number of changes from the previous revision: New plan or annuity types to […]
The AEAT has announced that new functionality has been added to the SII, which will allow users to review invoices from specific clients and suppliers. The invoice information can be viewed individually by client or supplier, or can be sorted in groups. The AEAT has also announced new functionality that has been incorporated into the […]
Spain's tax administration (the AEAT) has announced the release of the SII 2018 deadline calculator. This tool is designed to help calculate the exact date by which each SII report should be submitted to the AEAT. Determining the exact day of the deadline can be confusing under the current system when factoring in weekends and other […]
On December 4th, 2017, Italy’s parliament adopted Law Decree no. 148, by way of Law no. 174. Under Article 5 of Law Decree no. 148, the current VAT rate of 10% would be increased to 11.14% effective January 1, 2018. However, the 2018 Italian budget bill currently provides for the reduced VAT rate to be 10% […]
The European Commission has proposed a Council Directive that would make permanent a minimum standard VAT rate of 15% for all Member States. The 15% minimum rate currently exists as a "transitional" measure, though it has been extended six times since its enactment in 1992. If approved, the permanent 15% minimum rate of VAT would take […]
Arizona's Department of Revenue recently published the 2017 versions of Form A1-T and the Instructions to Form A1-T. There are no substantive changes to either the Form or the Instructions. To view Form A1-T, please follow the link. To read the Instructions to Form A1-T, please follow the link.
Arizona's DOR recently published the 2017 version of Form A1-R and the Instructions to A1-R. There are no changes to Form A1-R and the Instructions. Please be advised that the filing deadline for Form A1-R is January 31, 2018. To view Form A1-R, please follow this link. To read the Instructions to Form A1-R, […]
Arizona's Department of Revenue recently released the 2017 versions of Form A1-APR and the Instructions to Form A1-APR. There are no changes to Form A1-APR. The Instructions to A1-APR reminds filers that if Form A1-APR is filed electronically, use Form A1-T to transmit federal Form(s) W-2, Form(s) W-2c, Form W-2 G (with Arizona withholding), and […]
Oregon's Department of Revenue recently published Bulletin 2017-1, "Annual Business Rate Update." The new bulletin addresses interest rates for 2018. There are no changes in the interest rate. The Tier One annual interest rate remains at 5%, the monthly at 0.4167%, and the daily at 0.0137%. Likewise, the Tier Two annual interest remains at 9%, […]