Regulatory Analysis
Pennsylvania recently released its EFW2/EFW2C Reporting Instructions and Specifications Handbook. This booklet contains the EFW2 specifications and special instructions for reporting information returns to Pennsylvania. The most notable change this year is that Pennsylvania will now require filing of Forms 1099-NEC with the commonwealth and that the e-TIDES system will accept those files as well. […]
Rhode Island recently released an FAQ for its Health Insurance Mandate reporting requirements. The most notable part of the FAQ is an announcement that the Division of Taxation will extend the state reporting deadline to individuals from January 31, 2021 to March 2, 2021, and the deadline for reporting to the Division from January 31, 2021 […]
Nebraska recently released an updated version of its Form 501N, the Nebraska Monthly Income Tax Withholding Deposit form. This form is used for reporting the monthly deposit numbers to the state Department of Revenue. The only notable change to the form is that ACH Debit and ACH Credit electronic payments are not named specifically but […]
Oregon recently released specifications for plain paper filing for tax year 2020. Some significant changes were made to the specifications this year including the removal of the OA domestic specifications (though that form may remain valid for some domestic employers) and the inclusion of Schedule B and OQ specifications. One change was noted for Form […]
Hawaii recently released its Publication EF-10 EFW2 and EFW2C Format for Forms W-2 and W-2C. Some changes have been made to the document including formatting and some grammatical changes. The most notable of these changes are detailed below: Under Methods of Transmission, the option to create an EFW2 file by converting a .txt extension to […]
On October 29, 2020, Pennsylvania updated its guidance to indicate that both cloth and disposable face masks are clothing and therefore exempt from sales tax. According to Pennsylvania, “face masks (cloth and disposable) are exempt from Pennsylvania sales tax. Prior to the COVID-19 pandemic, masks sold at retail were typically subject to Pennsylvania sales tax. […]
The Nebraska Department of Revenue recently updated Publication 21 CM, Nebraska Computer Reporting Procedure for 1099s. This publication provides instructions and state specifications for reporting information returns like 1099 and W-2G records to Nebraska. The publication remains largely the same from prior years, except for two updates. First, Form 1099-NEC was added to the list […]
Maine recently released its interest rates for calculating interest on overdue payments owed by taxpayers to Maine Revenue Services (MRS), as well as to calculate interest on overdue refunds owed by MRS to taxpayers. The previous rates for Calendar Year 2020 were 7% annually broken down to 0.5833% monthly. The rates for Calendar Year 2021 […]
Oregon recently released its specifications for Forms W-2 and 1099. No changes were made to the specifications for W-2 filing. The notable changes made for the 1099 specifications are detailed below. Oregon will require Forms 1099-NEC and 1099-K be filed with the state electronically. The filing threshold will be “if required to file federally and […]
Kansas recently released the following publications for tax year 2020/reporting year 2021: K-2MT (Kansas W-2 Specifications for Electronic Filing – EFW2 Format) K-99CSV (Kansas 1099 Specifications for Electronic Filing – CSV Format) K-99MT (Kansas 1099 specifications for Electronic Filing – Pub. 1220 Format) KW-2CSV (Kansas W-2 Specifications for Electronic Filing – CSV Format) Aside from […]
The Nebraska Department of Revenue recently published an updated version of Publication 21EFW2, Nebraska Computer Reporting Procedure. This publication provides instructions and specifications for filing W-2 records electronically with the state. The only update to the publication is covered in the Overview section on the first page, mentioning the 1099-NEC as a new requirement for […]
The North Carolina Department of Revenue recently updated their publications detailing the electronic filing specifications and instructions for certain information returns including 1099s, W-2s, and 1042-S forms. While there were no changes to the W-2 and 1042-S specifications, there were a number of updates to the 1099 reporting specifications involving federal Form 1099-NEC and North […]
The Maryland Comptroller’s Office recently published updated electronic reporting specifications for W-2 and 1099 reports. These specifications and instructions are used by taxpayers to format and file information returns electronically. While the specifications remain largely the same as tax year 2019 for both types of information returns, there were minor updates made to each publication […]
The Indiana Department of Revenue recently published an updated set of electronic reporting specifications for 1099 and W-2G forms. These specifications are used to format electronic records for submission to the state. The updates to the publication include adding layout tables for the specifications and adding Code “NE” for 1099-NEC reporting. Note that Indiana utilizes […]
The Delaware Department of Revenue has announced a requirement to file Form 1099-NEC for TY 2020. Through a FAQ published on their website, the 1099-NEC will be due on February 1, 2021 and will be required when the form is issued to a Delaware resident (regardless of where the services were performed) or to non-residents […]
The IRS recently issued final regulations relating to the withholding rate on certain periodic retirement and annuity payments. This change was initiated by Section 3405(a)(4) of the Tax Cuts and Jobs Act (“TCJA”) and in part replaces the default rate for withholding on periodic payments under Section 3405(a) of the Code. Originally based on treating […]
The North Carolina Department of Revenue recently published an important notice relating to information returns due for TY 2020: specifically, information relating to Forms 1099-NEC and 1099-MISC. First, Form 1099-NEC will now be required for TY 2020 if the statement reports North Carolina income tax withheld. These must be filed with the department as a […]
Kentucky recently released its 2020 Specifications for Electronic Submission of 1099 and W2G forms, adding specification details for filing forms 1099-NEC with the state. These specifications detail how to electronically submit forms 1099 and W2G to the state of Kentucky including the record formats. The document was updated with dates for the 2020 tax year. […]