IRS updates accounting method proceduresTaxpayers must obtain the IRS’s consent to change any of their accounting methods under Code Sec. 446(e). The IRS has updated and made changes to its revenue procedures for obtaining IRS consent...
AZ - Local tax rate changes announcedEffective March 1, 2015, the following local Arizona transaction privilege tax changes are effective as noted below.Camp Verde will increase its rate to 3.65% (previously, 3.00%) for the following cla...
AR - Returns reviewed to prevent fraudThe Arkansas Department of Finance and Administration has announced that it has isolated and is reviewing 7,500 personal income tax returns filed through TurboTax to ensure that the refund request is ...
CT - Governor proposes rate reductionConnecticut Gov. Dannel P. Malloy has announced that the biennial budget that he will present to a joint session of the General Assembly at noon on Wednesday, February 18, 2015, includes a plan to low...
DE - Outside contractor examinations authorizedEffective January 29, 2015, the Delaware State Escheator may contract with a person to conduct a Delaware unclaimed property examination. However, no more than 50% of all unclaimed property examinatio...
DC - TurboTax returns processedThe District of Columbia Office of Tax and Revenue has announced that it is processing personal income tax returns filed through TurboTax because it has effective controls in place to prevent fraud. P...
HI - IRC conformity legislation introducedLegislation introduced in the Hawaii Senate would generally conform Hawaii corporate and personal income tax laws to the Internal Revenue Code (IRC) as amended as of December 31, 2014, for all taxable...
IN - “Cost of performance” sourcing not allowedAn Indiana corporate income taxpayer was required to include income received from Indiana “online” students when calculating its Indiana adjusted gross income. The taxpayer was an out-of-s...
IA - Estimated payment coupon mailing discontinuedThe Iowa Department of Revenue has adopted a regulation amendment that removes the requirement that the department mail a preaddressed estimated tax form to all resident taxpayers who filed an estimat...
KS - Agricultural publication updatedThe Kansas Department of Revenue has updated its sales and use tax publication that provides guidance on agricultural transactions to include the most recent version of Form ST-28F (Agricultural Exemp...
MD -Combined reporting legislation introducedA bill has been introduced in the Maryland Senate that would require mandatory unitary combined reporting for corporate income tax under certain circumstances. If enacted, the legislation would apply ...
MI - Returns being acceptedThe Michigan Department of Treasury has announced that it is processing 2014 personal income tax returns. All forms and instructions for the 2014 tax year are available on the department’s websi...
MN - Change to form W-4MN announced, explainedThe Minnesota Department of Revenue has announced that Minnesota Form W-4MN, Minnesota Withholding Allowance/Exemption Certificate, has been updated to include a personal income tax withholding exempt...
MS - Ad valorem tax credit guidance issuedThe Mississippi Department of Revenue has issued a notice regarding the ad valorem tax credit available to corporate income taxpayers. Specifically, the department reminds taxpayers that effective fro...
NE - Department of Revenue discusses fraudIn light of the increased attempts to file fraudulent income tax returns for the 2014 filing season as a result of identity theft, the Nebraska Department of Revenue is encouraging taxpayers to call t...
NJ - TurboTax (Intuit) returns not suspendedThe New Jersey Division of Taxation has announced that it is not one of the states identified in the Intuit potential fraud activity and has not suspended the issuance of income tax refunds. However, ...
NC - IRC conformity bill passes senateLegislation has passed the North Carolina Senate that would, if enacted, advance the Internal Revenue Code conformity date to January 1, 2015, for corporate and personal income tax purposes. The IRC c...
ND - Fraudulent filings discussedThe North Dakota Tax Commissioner’s Office has announced that personal income tax refunds have resumed after being suspended while resources were shifted to handle the increased volume in attemp...
OK - Local rate changes announcedThe following local sales and use tax rate changes take effect in Oklahoma on April 1, 2015:The city of Elk City increases its sales and use tax rate by 0.5%, from 4% to 4.5%.The city of Owasso, as si...
OR - Department addresses fraudThe Oregon Department of Revenue has identified inconsistencies in recently-filed state income tax returns prepared with third-party tax preparation software, indicating potential fraudulent activity....
PA - Department addresses fraudulent claimsThe Pennsylvania Department of Revenue informs taxpayers that it is working to ensure that personal income tax refunds are paid to the correct taxpayer. Last year the department instituted additional ...
RI - State describes steps taken to prevent fraudThe Rhode Island Division of Taxation has described the steps it has taken to prevent personal income tax refund fraud. In response to the issues involving TurboTax tax preparation software, the divis...
SD - References to internal revenue code updatedSouth Dakota Gov. Dennis Daugaard has signed legislation amending the state’s bank franchise (income), property, and sales and use tax provisions to conform their federal tax law references to t...
TN - Governor proposes expansive nexus legislationTennessee Gov. Bill Haslam has issued a press release detailing his recently introduced legislation entitled the Revenue Modernization Act (H.B. 644) that would, if enacted, adopt a market-based sourc...
VT - Fraudulent filings discussedThe Vermont Department of Taxes has issued a personal income tax fact sheet addressing frequently asked questions concerning e-filing and tax refund fraud. Among other topics, the fact sheet discusses...
WY - Valuation of vacant residential lot affirmedA Wyoming county assessor’s property tax valuation of 4.12 acres of vacant residential land for 2011 was supported by substantial evidence and was not unlawful, arbitrary, or capricious. Because...
