2020 Inflation Adjustments for HSAs ReleasedThe IRS has released the 2020 inflation-adjusted amounts for health savings accounts (HSAs) under Code Sec. 223. For calendar year 2020, the annual limitation on deductions under Code Sec. 2...
IRS Unveils New Draft 2020 Form W-4The IRS on May 31 unveiled a new preliminary draft of the 2020 Form W-4, Employee’s Withholding Allowance Certificate. Although an earlier version of the Form W-4 had been released last June, Tr...
2019 Foreign Housing Expense Limitations ReleasedThe IRS has provided the adjustments to the limitation on foreign housing expenses for specific locations for tax year 2019. Generally, a qualified individual whose entire tax year is within the appli...
IRS Revises EIN Application ProcessAs part of its ongoing security review, the IRS is revising the application process for obtaining an employer identification number (EIN). Starting May 13, 2019, only individuals with social security ...
HI - Proposed resort fees rules releasedHawaii has released proposed rules for the imposition of transient accommodations tax (TAT) on resort fees and when taxes are considered visibly passed on for purposes of TAT. The proposed rules refle...
ID - Additional county added to tax estimatorBannock County, Idaho, has been added to the counties for which a property tax calculator is available. The Properly Tax Estimator is available on tax.idaho.gov through the "Quick Picks...
IA - DOR offers updated sales tax guidanceThe Iowa Department of Revenue has updated its guidance regarding remote sellers and marketplace facilitators. The initial guidance was in response to SF 2417, the extensive state tax reform bill, whi...
KS - Appraised values of property reducedThe Kansas Board of Tax Appeals’ (BOTA) reduced the property tax appraisal values of the taxpayer's senior assisted living and skilled nursing facility because the property’s significant p...
MI - Taxpayers warned of scamThe Michigan Department of Treasury (department) issued a news release warning personal income taxpayers with past-due tax debts of an aggressive scam whereby fraudsters would send an official-looking...
NJ - Tax deduction for veterans increasedNew Jersey increases the gross income tax deduction for taxpayers who are veterans honorably discharged or released from active duty in the U.S. military or National Guard from $3,000 to $6,000. (A.B....
NM - Guidance for exempt organizations updatedThe New Mexico Taxation and Revenue Department has revised its guidance describing how to determine which federal and New Mexico tax reporting obligations are attached to various tax-exempt organizati...
OH - Rule regarding cash discounts updatedThe Ohio Department of Taxation has promulgated a rule to clarify the exclusion of cash discounts from a taxpayer's gross receipts for purposes of the commercial activity tax (CAT). The revised rule i...
OK - Q4 local rate changes announcedThe local sales and use tax rate changes below take effect in Oklahoma on October 1, 2019. The changes can be viewed at hok.gov/tax/documents/copo4Q19.pdf.City Rate ChangesAfton increases its sal...
OR - Fuel tax refunds limitedTaxpayers that have paid Oregon’s motor vehicle fuel tax or use fuel tax may not claim a refund for fuel used in operating a motor vehicle that is subject to the per-mile road usage charge. The ...
PA - Beginning farmer tax credit enactedPennsylvania enacted a personal income tax credit for landowners who lease or sell their land, buildings and equipment to beginning farmers.Beginning FarmerA beginning farmer is:a Pennsylvania residen...
SC - Motor fuel rate increasesSouth Carolina’s motor fuel user fee is 22 cents per gallon from July 1, 2019 through June 30, 2020. Information on future rate increases can be viewed on the department’s website at ...
SD - Local sales tax rate chart updatedAn updated municipal tax guide provides a South Dakota sales and use tax rate chart effective July 1, 2019.Municipal Tax GuideThe guide also includes:an introduction to municipal sales tax, use tax an...
VA - Taxpayer allowed 30 days to file returnThe Virginia Department of Revenue (department) granted a taxpayer 30 days to file his 2015 resident Virginia individual income tax return since the taxpayer would have information that better represe...
WA - Taxability of grocer incentives explainedBona fide discounts received by grocers are not subject to Washington business and occupation (B&O) tax. Grocer incentives qualify as bona fide discounts under the following conditions:The sale pr...
WI - Rate reductions enactedWisconsin has enacted legislation that will reduce the personal income tax rates of the first and second tax brackets, starting with the 2019 and 2020 tax years. The rate reductions will be calculated...
WY - Local rate change announcedBeginning October 1, 2019, Carbon County, Wyoming will impose a specific purpose county option tax at a rate of 1%, for a total sales tax rate of 6%. The notice can be viewed on the department’s...
