Regulatory Analysis
The Connecticut Department of Revenue Services (DRS) has published IP 2018(12): Forms 1099-R, 1099-MISC, 1099-K, and W-2G Electronic Filing Requirements for Tax Year 2018. There are several changes to these specifications: This publication now applies to all 1099-K filings – the due date for these filings is no later than 30 days after filing them with […]
The North Carolina Department of Revenue has updated its eNC3 Frequently Asked Questions. The following information has been added: Filers must submit NC-3 electronically. A new $200 penalty will apply for the 2018 Tax Year for failure to file in the format prescribed by NC DOR on any NC-3 that is not filed electronically or does […]
The IRS has published Notice 2018–91, explaining the 2018 required amendments list for individually designed qualified retirement plans. The purpose of this notice is to provide information on the remedial amendment period for a disqualifying provision arising as a result of a change in the qualification requirements. This period is extended to the end of the […]
The IRS has issued Notice 2018–231, which is intended to remind filers of the January 31 due date for Forms W-2, Forms W-3, and Forms 1099-MISC reporting non-employee compensation in box 7. This due date change was introduced pursuant to the PATH Act of 2015. These forms must be filed correctly and timely in order to […]
Vermont has recently released specifications for the electronic reporting of 1099s and W-2s for tax year 2018. The 1099 specifications match those published by the IRS. The published W-2 specifications remain the same from those for tax year 2017. Note, however, that the W-2 specifications are titled “2018 Vermont Specifications for Electronic W-2 (EFW-2) Filing,” […]
The Connecticut Department of Revenue Services has published IP 2018(13), Form W-2 Electronic Filing Requirements for Tax Year 2018. While the file specifications have not changed, filers should take note that the new web address for filing through the Taxpayer Service Center (TSC) is portal.CT.gov/TSC.
Revenu Quebec recently released an updated form and electronic specifications for Form RL-3. This form is used to report investment income to Revenu Quebec. Please note that the language policy in place requires communications with Revenu Quebec to be in French, and as such the forms are entirely in French as well. There are a […]
Revenu Quebec recently released updated electronic specifications for Form RL-18, Securities Transactions. These specifications are used by filers to submit RL-18 reports electronically to Revenu Quebec. There are three specific updates to the specifications which were added to the TY 2018 version of the specifications. Possible values for the applicable year have been updated to […]
The IRS recently released an updated version of Publication 1220, Specifications for Electronic Filing of Forms including 1099 and W-2G. This October 2018 update follows the September 2018 release and includes revised or additional information relating to Forms 1098, 1099-R, and 1099-MISC. Form 1098: A new field “Other” was added in Field Position 592-630 on […]
The Canada Revenue Agency recently released an updated version of Form T4A-NR, Statement of Fees, Commissions, or Other Amounts Paid to Non-Residents for Services Rendered in Canada. This form is used to report payments made to non-residents for activities or services rendered in Canada. There is one change to the form’s instructions, which is as […]
The Arizona Department of Revenue has revised Publication 622, Business Basics: A Guide to Taxes for Arizona Businesses. There are a few changes of which taxpayers should take note: Explanation of accounting credit for reporting sales – only applicable to state transaction privilege tax or severance tax Section added regarding use tax to be paid for […]
The Oregon Department of Revenue has published the W-2 File Specifications for Income and Wage Information Return e-Services (iWire) to be used for Tax Year 2018 reporting. There are some updates, of which filers should be aware, when submitting electronic returns: Statewide transit tax went into effect on July 1st of this year. Filers should report this […]
The Kansas Department of Revenue has updated the mailing address to which taxpayers should file forms KW-3, Annual Withholding Tax Return and KW-5, Withholding Tax Deposit Return. These forms, for paper filers, should now be mailed to: PO Box 758572, Topeka KS 66675-8572.
The Departamento de Hacienda (Department of the Treasury”) of Puerto Rico has published the 2018 version of Form 480.6A, “Informative Return – Income Not Subject to Withholding.”’ There are new boxes under the “Payer’s Information” Section, inserted between “Address” and “Bank Account Number”: Special Contribution for Professional and Advisory Service sunder Act 48-2013 “Reimbursed Expenses” […]
The Departamento de Hacienda of Puerto Rico recently released Form 480.6B, Informative Return – Income Subject to Withholding. This form must be prepared by every person engaged in trade or business in Puerto Rico that has made payments subject to withholding. There are a number of updates to the TY 2018 version of this form, […]
The Utah State Tax Commission recently published an update to Form TC-69, Business and Tax Registration Form. This form is used by businesses and employers in Utah to register themselves with the state for tax payment and reporting purposes, including withholding tax. There are a few updates to the form, which are as follows: The “tax.utah.gov” […]
The Treasury of Puerto Rico has released Form 480.7, Informative Return – Individual Retirement Account. Form 480.7 must be prepared for each owner or beneficiary of an Individual Retirement Account (IRA) who, during Tax Year 2018, received a distribution or transfer that meets the requirements of Section 1081.02 of the Puerto Rico Internal Revenue Code of […]
The IRS recently released the tax year 2018 version of Publication 1187, Specifications for Electronic Filing of Form 1042-S. These specifications are used to file 1042-S reports electronically through the IRS FIRE system. There are a number of updates to the new version of this publication, which include the following: Part A, Section 6.0.1, Filing […]