Regulatory Analysis

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Posted November 24, 2020 by Robert Beck
South Carolina Releases Updated Tax Registration Application Form SCDOR-111

South Carolina has released an updated version of Form SCDOR-111. The form is used to  register for various types of tax withheld for the state. While not a complete redesign, the document underwent significant changes for the 2020 Tax Year, the most notable of which are detailed below: Section A has been renamed Entity Registration […]

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Posted November 24, 2020 by Robert Beck
Nebraska Releases Updated Form W-4NA, Form 941N, and Nebraska Circular EN for 2020 Tax Year

Income Tax Withholding Certificate for Nonresident Individuals, used for nonresidents performing personal services substantially in Nebraska. Form 941N is the Nebraska Income Tax Withholding Return, used for employers to report withholding to Nebraska. The Nebraska Circular EN is the state’s guide on income tax withholding for wages, pensions and annuities, and gambling winnings. Most of […]

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Posted November 24, 2020 by Paul Ogawa
Utah Publishes Updated Publication on Interest and Penalties

The Utah State Tax Commission recently published an updated version of Publication 58, Utah Interest and Penalties. This publication contains information and instruction relating to how interest rates and penalties are applied to certain tax types including withholding tax and information return filing. The publication remains largely unchanged except for the addition of the interest […]

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Posted November 24, 2020 by Paul Ogawa
Rhode Island Updates Interest Rates for 2021

The State of Rhode Island’s Division of Taxation recently published updated interest rates for calendar year 2021. These rates apply to delinquent taxes due to the state and overpayments made to the state. For calendar year 2021, the interest rate for delinquent taxes remains the same at 18% per annum, while the interest rate on […]

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Posted November 24, 2020 by Paul Ogawa
Missouri Posts Interest Rates for Q1 2021

The Missouri Department of Revenue recently published updated interest rates for refunds and delinquencies for 2021. These rates apply to tax payments due to the Department, or refunds that are due to the taxpayer during the taxable year. They are based on the prime rates charged by financial institutions and are effective for the applicable […]

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Posted November 24, 2020 by Paul Ogawa
Mississippi Publishes Updated Procedures and Specifications for Electronic Filing of Information Returns

The Mississippi Department of Revenue recently published an updated version of Publication 89-145, Procedures and Specifications for Filing Wage and Tax Information Electronically. This publication provides instructions and electronic filing specifications for reporting 1099 and W-2 information to the state of Mississippi. While the specifications and instructions remain largely the same from the prior version […]

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Posted November 24, 2020 by Robert Beck
Pennsylvania Releases EFW2 Specifications for 2020

Pennsylvania recently released its EFW2/EFW2C Reporting Instructions and Specifications Handbook. This booklet contains the EFW2 specifications and special instructions for reporting information returns to Pennsylvania. The most notable change this year is that Pennsylvania will now require filing of Forms 1099-NEC with the commonwealth and that the e-TIDES system will accept those files as well. […]

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Posted November 24, 2020 by Robert Beck
Rhode Island Announces Extension For ACA Reporting For Tax Year 2020

Rhode Island recently released an FAQ for its Health Insurance Mandate reporting requirements. The most notable part of the FAQ is an announcement that the Division of Taxation will extend the state reporting deadline to individuals from January 31, 2021 to March 2, 2021, and the deadline for reporting to the Division from January 31, 2021 […]

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Posted November 24, 2020 by Robert Beck
Nebraska Releases Updated Form 501N for Tax Year 2020

Nebraska recently released an updated version of its Form 501N, the Nebraska Monthly Income Tax Withholding Deposit form. This form is used for reporting the monthly deposit numbers to the state Department of Revenue. The only notable change to the form is that ACH Debit and ACH Credit electronic payments are not named specifically but […]

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Posted November 24, 2020 by Robert Beck
Oregon Releases Plain Paper Specifications for Tax Year 2020

Oregon recently released specifications for plain paper filing for tax year 2020. Some significant changes were made to the specifications this year including the removal of the OA domestic specifications (though that form may remain valid for some domestic employers) and the inclusion of Schedule B and OQ specifications. One change was noted for Form […]

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Posted November 9, 2020 by Robert Beck
Hawaii Releases EFW2 Specifications Guide for Tax Year 2020

Hawaii recently released its Publication EF-10 EFW2 and EFW2C Format for Forms W-2 and W-2C. Some changes have been made to the document including formatting and some grammatical changes. The most notable of these changes are detailed below: Under Methods of Transmission, the option to create an EFW2 file by converting a .txt extension to […]

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Posted November 9, 2020 by Paul Ogawa
Nebraska Updates Electronic Filing Specifications for 1099 & W-2G Reports

The Nebraska Department of Revenue recently updated Publication 21 CM, Nebraska Computer Reporting Procedure for 1099s. This publication provides instructions and state specifications for reporting information returns like 1099 and W-2G records to Nebraska. The publication remains largely the same from prior years, except for two updates. First, Form 1099-NEC was added to the list […]

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Posted November 9, 2020 by Robert Beck
Maine Releases Interest Rates for 2021

Maine recently released its interest rates for calculating interest on overdue payments owed by taxpayers to Maine Revenue Services (MRS), as well as to calculate interest on overdue refunds owed by MRS to taxpayers. The previous rates for Calendar Year 2020 were 7% annually broken down to 0.5833% monthly. The rates for Calendar Year 2021 […]

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Posted November 9, 2020 by Robert Beck
Oregon Will Require 1099-K and 1099-NEC for Tax Year 2020

Oregon recently released its specifications for Forms W-2 and 1099. No changes were made to the specifications for W-2 filing. The notable changes made for the 1099 specifications are detailed below. Oregon will require Forms 1099-NEC and 1099-K be filed with the state electronically. The filing threshold will be “if required to file federally and […]

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Posted November 9, 2020 by Paul Ogawa
Kansas Publishes Tax Year 2020 Electronic Specifications

Kansas recently released the following publications for tax year 2020/reporting year 2021: K-2MT (Kansas W-2 Specifications for Electronic Filing – EFW2 Format) K-99CSV (Kansas 1099 Specifications for Electronic Filing – CSV Format) K-99MT (Kansas 1099 specifications for Electronic Filing – Pub. 1220 Format) KW-2CSV (Kansas W-2 Specifications for Electronic Filing – CSV Format) Aside from […]

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Posted November 9, 2020 by Paul Ogawa
Nebraska Publishes Updated W-2 Electronic Filing Specifications

The Nebraska Department of Revenue recently published an updated version of Publication 21EFW2, Nebraska Computer Reporting Procedure. This publication provides instructions and specifications for filing W-2 records electronically with the state. The only update to the publication is covered in the Overview section on the first page, mentioning the 1099-NEC as a new requirement for […]

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Posted November 9, 2020 by Paul Ogawa
North Carolina Updates Electronic Filing Specifications for Information Returns

The North Carolina Department of Revenue recently updated their publications detailing the electronic filing specifications and instructions for certain information returns including 1099s, W-2s, and 1042-S forms. While there were no changes to the W-2 and 1042-S specifications, there were a number of updates to the 1099 reporting specifications involving federal Form 1099-NEC and North […]

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Posted October 24, 2020 by Paul Ogawa
Maryland Publishes Updated W-2 and 1099 Electronic Reporting Specifications

The Maryland Comptroller’s Office recently published updated electronic reporting specifications for W-2 and 1099 reports. These specifications and instructions are used by taxpayers to format and file information returns electronically. While the specifications remain largely the same as tax year 2019 for both types of information returns, there were minor updates made to each publication […]

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