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...
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 ...
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...
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...
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 ...
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...
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...
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 ...
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...
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...
