Regulatory Analysis
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 […]
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. […]
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
The IRS has updated the Instructions for the Requester of Forms W-8BEN, W-8BEN-E, W-8ECI, W-8EXP, and W-8IMY. There are a number of changes from the previous revision of the Instructions: Chapter 3 Withholding Changes Withholding agents must also withhold under section 1443 on certain payments to foreign tax-exempt organizations that are unrelated business taxable […]
Idaho has released its 2018 Guide to Idaho Withholding. There are a number of changes from last year’s revision: New tax laws have significantly changes the withholding tables for 2018. The figures are effective for 2018, but filers will not need to adjust the withholding for the months before the tables were published Idaho now […]
The New York State Department of Taxation recently updated their website in relation to state and local government tax exempt bond interest information reporting. This type of reporting is used to report interest and dividend payments made to recipients which are derived from tax exempt sources like state and local government bonds. The updated […]
The Pennsylvania Department of Revenue updated Form PA-100, the Business Enterprise Registration Form and Instructions. The fee for background investigations of owners or officers has increased from $10 to $22. Additionally, the instructions have added additional clarification for Section 9, "Establishment Employment Information," Part 1. The new information states that "[a]ny payor/lessee required to […]
The Colorado Department of Revenue has revised its publication FYI General 11: Colorado Civil Tax Penalties and Interest. There were no changes to this publication relative to withholding taxes. The only substantive change was an addition to the disclaimer at the end of the publication explaining how to seek additional guidance through a Private Letter […]
Vermont recently published an updated version of Form MTT-600, ACH Credit Processing Guide. These instructions are used by filers to assist in setting up and submitting payments using the ACH Credit system. A number of updates were published in the most recent version of this form, which are as follows: A section was added […]
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 […]
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 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 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 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 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 […]
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 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 […]
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 […]