Regulatory Analysis
The Canada Revenue Agency recently released an updated version of Form T4A-NR, Statement of Fees, Commissions, or Other Amounts Paid to Non-Residents for Services Rendered in Canada. This form is used to report payments made to non-residents for activities or services rendered in Canada. There is one change to the form’s instructions, which is as […]
The IRS recently released an updated version of Publication 1220, Specifications for Electronic Filing of Forms including 1099 and W-2G. This October 2018 update follows the September 2018 release and includes revised or additional information relating to Forms 1098, 1099-R, and 1099-MISC. Form 1098: A new field “Other” was added in Field Position 592-630 on […]
The Kentucky Department of Revenue has published “Specifications for Electronic Submission of Annual Wage and Tax Information via Electronic Media or Web for Year 2018.” The DOR reminds filers that there is only one format for reporting via web based filing or CD. Kentucky statute now requires any withholder issuing more than 25 withholding statements […]
The Ohio Department of Taxation has published W-2 Magnetic Media specifications for TY2018 reporting. The following record changes have been made: A new box 12 Code GG money field, Income from Qualified Equity Grant Under Section 83, has been added to the: RO (Employee Optional) Record in positions 122-132 RU (Total Optional) Record in positions […]
The Nebraska Department of Revenue recently published Revenue Ruling 99-18-1, “Interest Rate Assessed on State Taxes.” The tax rate will continue to be 3% until December 31, 2018. Starting January 1, 2019, the interest rate on state taxes will be raised to 5%. To view the Revenue Ruling in full, please follow the link.
New York Tax recently updated Form NY-100, “New York State Employer Registration for Unemployment Insurance, Withholding, and Wage Reporting.” The following changes have been made: Business Employers seeking to file NY-100 must register at businessexpress.ny.gov. Home employers will continue to register at www.labor.ny.gov Filers are required to attach a copy of Form CP 575 from the IRS […]
The New Mexico Taxation and Revenue Department revised Bulletin B-400.4, “effective Interest Rates for Late Payment of Tax Due.” The annual tax rate will continue to hold at 5% until December 31, 2018. The Taxation and Revenue Department has not yet announced the rate for 2019. To view the bulletin in full, please follow the […]
The Virginia Department of Taxation recently published Tax Bulletin 18-5, which details the interest rate for certain tax types. This includes the underpayment and overpayment rates for unpaid taxes or refunds, respectively. The rate for the fourth quarter of 2018 remains unchanged at 7% for both underpayments and overpayments. To review this Tax Bulletin in […]
The Missouri Department of Revenue recently released an updated version of Publication 4282, Employer’s Tax Guide. This Guide provides instructions and information on filing and remitting withholding tax to the Missouri Department of Revenue, along with electronic specifications for those filing their reports electronically. There are a few updates to this version of the publication, […]
Maine Revenue Services has updated some forms and instructions relevant to withholding. Form 941BN-ME, which is completed to report a change in your withholding account, contact information or to cancel your withholding account, is now exclusively used for income tax withholding accounts; previously, it was also used for unemployment contributions accounts. There is no update […]
Indiana's Department of Revenue recently updated Departmental Notice #1, How to Compute Withholding for State and County Income Tax. The Notice informs filers that effective January 1, 2018, certain professional team members and race team members are subject to county tax. Income Tax Information Bulletin # 88 and Commissioner's Directive #51 can provide further information. The Notice […]
The Pennsylvania Department of Revenue has revised two of its withholding publications. The General Information & Specifications for W-2 and PA W-3 Quarterly Filing has one minor update: It now provides the web address for e-TIDES: www.etides.state.pa.us The Starting a Business in Pennsylvania Guide has some additional information about entrepreneurial assistance to answer questions about doing business in the state. […]
The IRS has recently revised Publication 1179, “General Rules and Specifications for Substitute Forms 1096, 1098, 1099, 5498, and Certain Other Information Returns.” The document details the format and specifications for printing various tax information return forms to be sent to the IRS and recipients. The What’s New for the revision notes the following: Copies […]
The Puerto Rico Hacienda recently released Forms 499R-2 and 499R-2C for Tax Year 2018. These forms are the Puerto Rico equivalent of the W-2 and W-2c (respectively), and must be filed with the Hacienda and the Social Security Administration by every employer that has paid wages with income tax withheld for Puerto Rico (or to […]
The New Jersey Division of Taxation has published the electronic specifications for reporting Tax Year 2018 W-2 information. As has been the case in past years, the specifications conform to those published by the Social Security Administration (EFW2). This booklet contains instructions and specifications for e-filing W-2 information with the Division. Submissions are due by February 28, 2019. […]
The Delaware Department of Finance, Division of Revenue, has updated its W-2 and 1099 Form FAQs to reflect the new deadlines for 2018 filings. Per the update, W-2 and 1099-MISC forms reporting non-employee compensation in box 7 are due by January 31, 2019. Forms 1099-MISC without non-employee compensation and 1099-R are due by the following […]
The Brazilian Congress is once again considering a series of tax reforms aimed at simplifying its incredibly complicated indirect tax system. The primary proposal (known as PEC 293) proposes to replace the following taxes with a nationwide VAT. 1. ICMS – state-level VAT 2. IPI – federal tax on industrialized products 3. ISS – […]
The Wisconsin Department of Revenue has published an emergency rule describing the details of Wisconsin’s new sales and use tax on out-of-state retailers. Beginning October 1, 2018, Wisconsin requires out-of-state retailers with no physical presence in Wisconsin to collect and remit Wisconsin sales or use tax on sales of taxable products and services into the […]