Regulatory Analysis
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 […]
The Wisconsin Department of Revenue updated Publication 401, "Extensions of Time to File." This document establishes deadlines for key reporting forms as well as their deadlines, methods of filing for extensions, and the potential length of extension a filer may receive. While there have been no change to the instructions, the following forms have had […]
The IRS has released the 2018 Form W-2G. This form is used to report gambling winnings to the IRS. There are no changes to this form from the previous revision. To view the 2018 Form W-2G, please click here.
The IRS has released the 2018 Form 1099-A, Form 1099-C, and Instructions for Forms 1099-A and 1099-C. Form 1099-A is used to report acquisition or abandonment of secured property to the IRS, and Form 1099-C is used to report cancellation of debt to the IRS. Form 1099-A Changes No changes to Form 1099-A Form […]
Oklahoma recently passed a law intended to capture sales and use tax for purchases over the internet. The new law, passed as House Bill 1019XX, requires remote sellers and marketplaces to either register for and collect Oklahoma sales tax at the time of sale; or both (a) provide detailed notices informing the purchaser that use […]
Alabama House Bill 470 has been signed into law as Act 2018-539. Pursuant to this Act, an eligible seller participating in the Simplified Sellers Use Tax Remittance Program that acquires an in-state business, thereby establishing substantial nexus with Alabama, may elect to continue participation in the Simplified Sellers Use Tax Remittance Program to satisfy the […]
Illinois has updated Publication 110 and 130. Publication 110 provides filing and storage requirements for employers and filers filing Forms W-2, W-2c, W-2G, and 1099. Publication 130 provides Illinois income tax withholding requirements. The only change is that each publication now states a waiver to the Form W-2, W-2c, and W-2G electronic filing requirements […]
Massachusetts recently published an update to Technical Information Release (TIR) 18-3, Interest on Overpayments and Underpayments. These interest rates relate to overpayments and underpayments of certain tax types, including withholding tax. These rates are published on a quarterly basis. The interest rates have increased by one percent (1%) for the Second Quarter of 2018: […]
New Mexico's governor recently signed into effect legislation changing the filing deadline for Form W-2. The deadline will move to January 31 for taxable years beginning on or after January 1, 2019. The reporting deadline will remain at February 28 for taxable year 2018, and the new deadline will not come into effect until January 1, […]
The North Dakota Office of State Tax Commissioner has published the 2018 Withholding Tables. All tables have been updated from the 2017 tables. To view the tables in full, please follow the link.
The North Dakota Office of State Tax Commissioner has published the 2018 Income Tax Withholding Rates and Instructions. The withholding allowance amounts have changed to reflect changes in IRS Publication 15 (Circular E) for 2018. Likewise, the tables for the percentage method of withholding have also changed. There have been no changes to the instructions. […]