Regulatory Analysis

Posted June 1, 2018 by Tom Hospod
South Carolina Publishes Revised Batch Filing Program Publication

The South Carolina Department of Revenue has released a revised version of its publication for the Batch Filing Program for Withholding Quarterly Tax Returns. This publication assists those taxpayers who file 100 or more returns for a tax period for the same tax year in submitting their returns electronically, as required by South Carolina law. There are […]

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Posted June 1, 2018 by Tom Hospod
South Carolina Publishes Revised ACH Credit Instructions and Guidelines

The South Carolina Department of Revenue has released a revised version of its ACH Credit Instructions and Guidelines. This publication should be consulted when making withholding tax deposits by electronic funds transfer. Taxpayers should use ACH Debit to send the funds to the Department of Revenue’s bank account through a banking program offered by their financial […]

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Posted May 31, 2018 by Ramón Frias
Ecuador Issues Resolution Mandating More Taxpayers to Comply with eInvoicing

The Ecuadorean Tax Administration (SRI) has issued a new Resolution intended to expand the obligation to issue and report electronic invoices. Resolution NAC-DGERCGC18-00000191 establishes the following schedule defining the effective dates when the new taxpayers will need to start complying with the eInvoicing mandate:  Group Effective Date Mandated Taxpayers 1 01 Nov 2018  All Importers […]

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Posted May 31, 2018 by Brendan Magauran
Italy Issued Guidance on E-invoicing Mandate

Under the Italian Budget Law for 2018, a general business to business and business to customer e-invoicing obligation will apply from January 1, 2019. Additionally, there will be an e-invoicing obligation for public subcontractors and for the supplies of petrol intended for use as motor fuel beginning on July 1, 2018.  On April 30, 2018, […]

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Posted May 21, 2018 by Nicolette Chasse
Kentucky Adjusts Withholding Income Tax Rate

The Kentucky Department of Revenue has published the 2018 Withholding Tax Table and Formula. The table and formula are effective for Tax Years beginning January 1, 2018. Kentucky has enacted a new 5% flat tax rate for income withholding. As a result of this change, exemptions are not taken into account, only the standard deduction. […]

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Posted May 21, 2018 by Nicolette Chasse
Maine Publishes MEETRS File Formatting Specifications for Electronic Transmittal of Quarterly Income Tax Withholding

Maine's Revenue Services published their MEETRS File Formatting Specifications for Electronic Transmittal of Quarterly Income Tax Withholding for 2018. Beginning in 2018 the MEETRS application will support the filing of amended withholding returns. Form 941A-ME has been eliminated and incorporated into Form 941 ME. The following withholding file layout changes are effective beginning first quarter […]

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Posted May 16, 2018 by Sovos
Malaysia Revises GST Standard Rate

As a part of the tax restructuring plan of the Malaysian Prime Minister, P.U. (A) 118 has been published today in the Official Federal Gazette, which changes the GST standard rate in Malaysia from 6% to 0%. Any supplies of goods or services previously subject to 6% GST, after June 1, 2018, will be subject to the […]

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Posted May 15, 2018 by Yujin Weng
Mexico Allows Temporary Penalty Waiver for 2017 CFDI of Nomina

The Tax Administration Service of Mexico (SAT) has announced that it will allow, until May 15, 2018, the correction of CFDI of Payroll (CFDI de Nomina) issued during 2017. For that purpose, SAT issued a new Rule 2.7.5.7 in the First Modification of the Miscellaneous Fiscal Resolution for 2018. As a result of this provision, taxpayers […]

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Posted May 15, 2018 by Sovos
Malaysian Prime Minister Announces Desire to Abolish GST

Over the May 12, 2018 weekend, the Malaysian Prime Minister announced his intent to follow-through with his plan to abolish the current Goods and Service Tax in Malaysia.  In a press release, Prime Minister Tun Dr Mahathir Mohamad announced that the country's economy no longer requires income from GST collections, and promised to abolish the system in favor of […]

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Posted May 14, 2018 by Nicolette Chasse
Maine Updates Form W-4ME, Employee’s Withholding Allowance Certificate

Maine's Revenue Services recently updated Form W-4ME, the Employee's Withholding Allowance Certificate. There are no substantive changes to the form from the last version, which was updated October 2016. To view the form, please follow the link

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Posted May 14, 2018 by Nicolette Chasse
Kentucky Publishes New Version of K-3 Annual Reconciliation for Electronic Funds Transfer

The Kentucky Department of Revenue has created a new version of Form K-3 for electronic funds transfer (EFT) accounts. Form K-3E is to be used for payments due January 31, 2019. This form should be mailed to the Department of Revenue in Frankfort, Kentucky. Additional amounts of withheld income due must be remitted via EFT. […]

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Posted May 14, 2018 by Nicolette Chasse
Kentucky Publishes New Version of K-1 Income Tax Withheld Worksheet for Electronic Funds Transfer

The Kentucky Department of Revenue has created a new version of Form K-1 for electronic funds transfer (EFT) accounts. Form K-1E is for payments due October 31, 2018. This form is to be mailed to the Department of Revenue in Frankfort, Kentucky. Additional amounts of withheld income due must be remitted via EFT.    To […]

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Posted May 14, 2018 by Tom Hospod
Louisiana Releases Second Quarter Employer’s Return of Louisiana Withholding Tax Form L1

The Louisiana Department of Revenue has released its Second Quarter Employer’s Return of Louisiana Withholding Tax Form L1, which is due to the Department by July 31, 2018. Every employer who is required to withhold Louisiana state income tax is required to file this return on a quarterly basis, and the Department releases a new form for […]

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Posted May 14, 2018 by Adam Rivera
SSA Releases 2018 W-2C Specifications

The SSA has released its 2018 W-2C Specifications. There are a number of changes from the previous revision: Record Changes A new Box 12 Code GG money field, Originally Reported and Correct Income from Qualified Equity Grants Under Section 83, has been added to the: RCO (Employee Optional) Record in positions 233-243, 244-254 RCU (Total […]

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Posted May 14, 2018 by Tom Hospod
California Updates Form DE 1245W, E-File and E-Pay Mandate Waiver Request

The California Employment Development Department has released an updated Form DE 1245W, E-File and E-Pay Mandate Waiver Request. Filers should use this form to request an exemption from the e-file and e-pay mandate which requires employers to file their employment tax returns, wage reports, and payroll tax deposits electronically. While the form itself has not been […]

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Posted May 14, 2018 by Adam Rivera
IRS Releases 2018 W-2 Specifications

Record Changes A new Box 12 Code GG money field, Income from Qualified Equity Grants Under Section 83, has been added to the: RO (Employee Optional) Record in positions 122 – 132 RU (Total Optional) Record in positions 160 – 174 A new Box 12 Code HH money field, Aggregate Deferrals Under Section 83 Elections as […]

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Posted May 14, 2018 by Paul Ogawa
Utah Publishes Updated Withholding Tax Guide

The Utah State Tax Commission recently published an updated version of Publication 14, the Utah Withholding Tax Guide. This guide contains information on withholding tax filing information and requirements, along with tax withholding tables to assist employers and businesses with their withholding information reporting obligations.   The principal update to Publication 14 involves the Congressional […]

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Posted May 14, 2018 by Paul Ogawa
Missouri Updates Interest Rates for Third Quarter of 2018

Missouri recently updated their website with Refund Interest Rates for the 3rd quarter of 2018. These interest rates apply to withholding payments and refunds, and change periodically throughout the course of the tax year.   The interest rate for refunds has increased to 1.2% for the third quarter of 2018.   To review this update […]

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