Regulatory Analysis
The IRS has released the 2019 Draft Form W-4. There are a number of changes to Form W-4 from the previous year as a result of changes created by the passage of the Tax Cuts and Jobs Act in December 2017. The Tax Cuts and Jobs Act made changes to the law, including increasing the […]
On June 1st, "Decree No. 2/2018 (1 June) of the Minister of Finance" was published in the Hungarian Gazette. The regulation, previously released in draft form earlier this year, provides the basis for the new real time electronic reporting obligation in Hungary which is scheduled to go into effect on July 1. As previously announced, data from […]
The Governor of New Jersey just signed the first (in the wake of the federal ACA individual mandate repeal) state individual mandate into law. It will become effective January 1, 2019, so there will be no gap between the expiration of the federal individual mandate and the enforcement of the NJ individual mandate. According to the bill, […]
The IRS has released Proposed Rule REG-102951 containing the proposed regulations amending the rules for determining when information returns will be required to be filed electronically. These proposed regulations would require that all information returns, regardless of type, be taken into account to determine whether a filer meets the 250-return threshold and, therefore, must file […]
The California Employer Development Department (EDD) has revised Publication DE-44, its 2018 Employer’s Guide, which details reporting and withholding requirements for employers who pay employees in the State of California. There is only one substantive revision to this publication – it now includes information pertaining to the Electronic Reporting and Payment Mandate that went into effect […]
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 […]
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 […]
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 […]
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, […]
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. […]
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 […]
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 […]
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 […]
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 […]
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 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. […]
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 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 […]