Recent developments

Strengthen passwords

The Rhode Island Division of Taxation, the Internal Revenue Service, and other partners in the Security Summit urge all tax professionals to use strong passwords to protect accounts from cyberthieves. Tax professionals also should consider encryption for all sensitive data. To learn more, click here.

Statistics of Income

The Rhode Island Division of Taxation has posted on its website two Statistics of Income (SOI) reports. Both cover the personal income tax for the 2015 tax year. One focuses on residents, the other on nonresidents. The reports draw on figures contained in tax returns filed with the Division of Taxation. The reports do not disclose confidential taxpayer information. Rather, they provide aggregate data for a given tax type. To learn more, click here.

Newsletter posted

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

• Annual tax bills
• Section 179
• Bonus depreciation
• ‘Legal Corner’
• ‘Practitioners’ Corner’
• Regulations

To view a copy, click here.

Security tips for tax professionals

The Internal Revenue Service, the Rhode Island Division of Taxation, and other partners in the Security Summit today outlined critical steps for tax professionals to take to protect their computers and email as well as safeguard sensitive taxpayer data. To learn more, click here.

Administrative Decision on NOLs

The Division of Taxation today posted its latest Administrative Decision. At issue is whether the taxpayers should be allowed to claim a net operating loss for the 2016 tax year. To view the document, click here.

"Summary of Legislative Changes"

The Rhode Island Division of Taxation’s “Summary of Legislative Changes” offers a brief look at key tax provisions in the recently enacted budget bill for the 2019 fiscal year. Among the topics:

• Preservation of deductions for personal exemptions
• Taxpayer identification numbers (TINs)
• Tax treatment of sports wagering
• Sales tax and armored-car services
• Vendor-hosted prewritten computer software
• Changes to film tax credit

To view the document, click here.

Recent developments

Security awareness

The Security Summit today launched a summertime security awareness campaign for tax professionals. To learn more, click here.

FAQs for remote sellers

The Division of Taxation recently posted FAQs for non-collecting retailers, including remote sellers. To learn more, click here.