Connecticut recently released Informational Publication IP 2021 (13), which is the Form W-2 Electronic Filing Requirements for tax year 2021. The official release revision date is listed as November 18, 2021. There were no substantive changes to the specifications this year, the only notable changes being that the dates have been updated for the 2021 […]
Virginia recently published a revised Income Tax Withholding Guide for Employers and Web Upload W-2, W-2C, and 1099 Guide. The revised Income Tax Withholding Guide for Employers provides updated guidance for withholding from employees. The Web Upload W-2, W-2C, and 1099 Guide provides electronic filing specifications for W-2, W-2C, and 1099. Income Tax Withholding Guide […]
The IRS recently released the updated Publication 5165 for tax year 2021. Publication 5165 is the Guide for Electronically Filing Affordable Case Act (ACA) Information Returns for Software Developers and Transmitters. Notable changes are detailed below. Year updated throughout Publication 4600 removed from reference documents Proposed regulation reduces threshold from 250 to 100 separate information […]
Vermont recently released GB 1117 Vermont Specifications for eFiling of 1099 Information Returns, GB 1118 Vermont Specifications for Electronic W2 (EFQ-2) Filing, and GB 1119 Vermont WHT 434 Specifications for Electronic Filing. All forms update the year throughout and GB-1118 specifies the account ID format (WHT-XXXXXXXX) for RS position 248-267. There were no other changes. […]
Oregon recently released its iWire W-2 Specifications and OR Publication 1220 Addendum for tax year 2021. Besides date and minor grammar changes, there were no changes to the specifications. To view the W-2 Specifications, click here. To view the 1099 Addendum, click here.
Maine recently released Electronic File Specifications for Forms W-2. Unimpactful changes include updated dates to reflect the new tax year, added due date section to the table of contents, and moved language (Maine still does not accept W-2C). Impactful changes include a new penalty, changed due date, and change to payers required to submit Form […]
On 24 February 2022, the Indian Central Board of Indirect Taxes and Customs (CBIC) issued a notification (Notification No. 01/2022 – Central Tax) that lowered the threshold for mandatory e-invoicing. In India, e-invoicing is mandatory for taxpayers when exceeding a specific threshold (businesses operating in certain sectors are exempted). The current threshold for mandatory e-invoicing […]
The Spanish Tax Authority AEAT has published a draft resolution establishing the requirements that must be adopted by computer or electronic systems and programs that support the billing processes of businesses and professionals. According to the draft regulation, taxpayers must have their operational computer systems compliant with the new requirements as of January 1, 2024. […]
The Tax Administration Service (SAT) has recently published the Second Resolution of Modifications to the Miscellaneous Fiscal Resolution for 2022, effectively postponing the entry into force of the latest CFDI version. According to this modification, the period of use of the current CFDI version 3.3, is extended until June 30, 2022, therefore, from July 1, […]
In October 2021, the Belgian Minister of Finance, Vincent Van Peteghem announced the government’s intention to extend the existing B2G e-invoicing obligation to cover also B2B transactions. Since then, no more details or formal information has been communicated by the government or relevant public authorities. Recent rumours circulating on the timeline for entry into force […]
On February 16, 2022, California introduced AB 2280 allowing the California Controller to establish a California Voluntary Compliance Program (VDA Program). Interest due on late reported property will be waived for holders completing the program. The VDA program will be available to any holder who has failed to timely report property. However, a holder is […]
In South Korea, e-invoicing has been mandatory for all corporate businesses since 2011. From 2012, individual businesses (entrepreneurs) have also been required to comply with e-invoicing obligations if they meet the threshold limits which have been updated a couple of times over the years. Currently, an individual business whose aggregate supply value (including transactions that […]
2/4/2022 Maryland recently published an updated List of Tangible Personal Property and Services Subject to Sales Tax. The guidance clarifies that sales of respirators such as KN95 and N95 masks and infectious drug tests including covid tests are exempt products that fall under the state’s disposable medical supplies sales tax exemption. To review the full […]
Resolution 105/2021 issued by the tax administration of Paraguay (SET) establishes the new schedule of implementation of the electronic invoice in that country. This new resolution substitutes the provisions of previous resolution 95/2021 establishing a new calendar for the deployment of the e-invoicing mandate using the SIFEN platform (National Integrated System of Electronic Invoicing). For […]
Towards the end of last year, the tax authority in Turkey published a draft communique that expands the scope of e-documents in Turkey. After minor revisions, the draft communique was enacted and published in the Official Gazette on 22 January 2022. With the communique, the current gross sales revenue threshold for mandatory e-fatura and e-delivery […]
On January 18, the NAIC released the Annual Statement Disclosure Checklists for year-end 2021 reporting. The NAIC provides four different checklists for different statement types: Health, Life/Fraternal, P&C and Title. To view the checklists, go to the Statutory Accounting Principles Working Group’s webpage. Once the page has loaded, click on the “Documents” tab in the […]
We have previously reported that as of 1 July 2022, Romanian taxpayers will be required to use the CTC e-invoicing system e-factura (regardless of whether or not the recipients are registered in the Romanian e-Invoice register), for B2B transactions involving products with high fiscal risks. The National Agency For Fiscal Administration has today issued an […]
Wisconsin recently released a new update to Publication 117, the Guide to Wisconsin Wage Statements and Information Returns. Aside from updating the revision date from September to October of 2021, the only notable change to the publication was the removal of Form W-2G from the list of forms that can be filed electronically in the […]