Tax credits for Woonsocket project

The Rhode Island Division of Taxation has posted details about a rehabilitation project at Bernon Mills in Woonsocket involving $1.9 million in Rhode Island historic preservation tax credits.

The Division of Taxation's web page on historic tax credits shows details involving all applicants that have signed a contract and paid the required fee under the state's 2013 historic preservation tax credit program.

Public hearing tomorrow - motor vehicle regulations

The Rhode Island Division of Taxation plans to hold a public hearing tomorrow, October 25, 2017, on proposed actions involving approximately 20 regulations.

The hearing is on the Division's plan to repeal, amend, or adopt regulations. Most or all of the proposed regulations involve motor vehicles.

The hearing is to start at 9:30 a.m. tomorrow at the Department of Administration Building at One Capitol Hill, Providence, diagonally across from the Smith Street entrance to the State House. Details about the proposed regulations are available on the Rhode Island Department of State website: http://www.sos.ri.gov/ProposedRules/.

Online sellers: voluntary disclosure

The Multistate Tax Commission National Nexus Program has extended the deadline for its special limited-time voluntary disclosure initiative.  

The initiative is intended for online marketplace sellers under certain circumstances. Taking part in the initiative are 24 states, including Rhode Island, plus the District of Columbia.

Rhode Island and the other jurisdictions will consider applications for voluntary disclosure received by Multistate Tax Commission (MTC) staff through November 1, 2017, from taxpayers meeting certain eligibility criteria. 

The original deadline was October 17, but the MTC recently extended the deadline to November 1. The extension was requested by potential applicants or their representatives, the MTC said. The MTC website has more information -- about the initiative and about the extension. 

(Note: The MTC initiative is separate from the Rhode Island Division of Taxation’s ongoing voluntary disclosure program. It is also separate from the Rhode Island general tax amnesty program, which is scheduled to launch in early December 2017.)

Security Summit convenes in D.C.

Members of the Security Summit -- including the Internal Revenue Service, the Rhode Island Division of Taxation, tax agencies from other states, and the tax industry - met in Washington, D.C., yesterday to discuss their continued progress in the fight against tax-related identity theft.

Those attending, including Rhode Island Tax Administrator Neena Savage, also discussed additional safeguards that have been prepared for the 2018 filing season to curb refund fraud. For more information, click here.

Tax on "other tobacco products"

The Division of Taxation has posted two new Administrative Decisions. Each focuses on whether a taxpayer owes the assessed tax on "other tobacco products," otherwise known as OTP. (In general, the term refers to tobacco products other than cigarettes.) The new postings are Decision 2017-12 and Decision 2017-13.

Tonight's the night

The filing and payment deadline is tonight for calendar-year taxpayers that are on extension for the 2016 tax year. Click here for more information.

Deadline looms; IRS issues warning

Extended due date

The Rhode Island Division of Taxation reminds tax professionals and taxpayers that Monday – October 16, 2017 – is the deadline for filing Rhode Island resident and nonresident personal income tax returns for the 2016 tax year. For more information, click here.

IRS warning for tax professionals

The Internal Revenue Service has warned all users of the IRS e-Services online feature to beware of a new phishing scam that tries to trick tax professionals into “signing” a new e-Services user agreement. The phishing scam seeks to steal passwords and data. For more information, click here.

New guide; newsletter; voluntary disclosure

Guide to tax break for 401(k) and pension income

The Division of Taxation has posted a guide to the tax break for income from 401(k) plans, 403(b) plans, pensions, annuities, and other such sources. To learn more, click here.

Division posts latest issue of newsletter

The Division of Taxation has posted the latest issue of its newsletter. Among the topics:

• An award for the agency
• A new chief of examinations
• A summary of tax amnesty
• Extended due dates
• 'Legal Corner'
• 'Practitioners' Corner'

To view a copy of the publication, click here.

Online marketplace sellers: voluntary disclosure

The Multistate Tax Commission National Nexus Program is offering a special limited-time voluntary disclosure initiative.  It is intended for online marketplace sellers under certain circumstances. Taking part in the initiative are 24 states, including Rhode Island, plus the District of Columbia.

Rhode Island and the other jurisdictions will consider applications for voluntary disclosure received by Multistate Tax Commission (MTC) staff through October 17, 2017, from taxpayers meeting certain eligibility criteria. The MTC website has more information. 

(Note: The MTC initiative is separate from the Rhode Island Division of Taxation’s ongoing voluntary disclosure program. It is also separate from the Rhode Island general tax amnesty program to launch in early December 2017.)