- Health insurance mandate
- Withholding
- Unemployment insurance tax
- Temporary disability insurance tax
- Estate tax
- Interest rates
- Remote sellers
- Tax credits
- Surplus lines
To read a summary, click here.
Tuesday, December 31, 2019
Tax changes starting January 1
The Rhode Island Division of Taxation reminds tax professionals and others about tax changes that will apply in the new year. Some changes take effect immediately (January 1, 2020); others take effect later in the year. Among the subject areas involved:
To read a summary, click here.
To read a summary, click here.
Tuesday, December 24, 2019
Information for employers about withholding
The Division of Taxation has posted the new booklet of income tax withholding tables (used by employers and others to calculate how much to withhold from an employee’s pay in 2020 for Rhode Island personal income tax purposes). Click here to view.
The Division has also posted the new version of Form RI W-4, “Employee’s Withholding Allowance Certificate” (which an employee may use to adjust the amount of Rhode Island personal income tax withheld from the employee's paycheck). Click here to view.
In addition, the Division has posted the 2020 withholding tax payment calendar (which shows payment deadlines for various payment frequencies). Click here to view.
The Division has also posted the new version of Form RI W-4, “Employee’s Withholding Allowance Certificate” (which an employee may use to adjust the amount of Rhode Island personal income tax withheld from the employee's paycheck). Click here to view.
In addition, the Division has posted the 2020 withholding tax payment calendar (which shows payment deadlines for various payment frequencies). Click here to view.
Health insurance mandate kicks in next week
All Rhode Islanders must have qualifying health coverage beginning January 1, 2020. Failure to have such "minimum essential coverage" in 2020 may result in a Rhode Island personal income tax penalty in 2021. So now is the time to plan ahead. To learn more, click here.
Entity-level tax for pass-through entities
The Rhode Island Division of Taxation today posted answers to common questions about the entity-level tax which pass-through entities can elect to pay. To view or download the document, click here.
Thursday, December 19, 2019
Publication on 1040H program
The Rhode Island Division of Taxation has posted an updated version of its publication involving the statewide property-tax relief program (Form RI-1040H).
The updated version contains no substantive changes. It includes a reference to a statute, a reference to a regulation, and a new phone number to call regarding certain e-filing matters. To learn more, click here.
The updated version contains no substantive changes. It includes a reference to a statute, a reference to a regulation, and a new phone number to call regarding certain e-filing matters. To learn more, click here.
Withholding; electronic funds transfer
The Rhode Island Division of Taxation has proposed amendments to a regulation involving employers' withholding (280-RICR-20-55-10) and another regulation involving electronic funds transfer (280-RICR-20-30-1).
The Division would amend both regulations to reflect changes in Rhode Island law that were enacted in July 2019. For example, the new law requires that certain employers submit withholding tax returns and payments by electronic funds transfer or other electronic filing means effective January 1, 2020. The Division also would make clarifying updates to both regulations due to the passage of time.
The 30-day public comment period expires on January 16, 2020. For more information, click here and here.
The Division would amend both regulations to reflect changes in Rhode Island law that were enacted in July 2019. For example, the new law requires that certain employers submit withholding tax returns and payments by electronic funds transfer or other electronic filing means effective January 1, 2020. The Division also would make clarifying updates to both regulations due to the passage of time.
The 30-day public comment period expires on January 16, 2020. For more information, click here and here.
At seminar, Division discusses health insurance mandate
The Rhode Island Division of Taxation yesterday took part in a tax preparer seminar -- and, while there, reminded preparers about Rhode Island's health insurance mandate.
The Division was among several organizations and individuals presenting at the Rhode Island Society of Certified Public Accountants' "Annual Tax Forum" held at the Providence Marriott Downtown, a hotel on Orms Street in Providence.
As part of its presentation, the Division noted that all Rhode Islanders must have qualifying health coverage beginning January 1, 2020. Failure to have such "minimum essential coverage" in 2020 may result in a Rhode Island personal income tax penalty in 2021. So now is the time to plan ahead. To learn more, click.
The Division was among several organizations and individuals presenting at the Rhode Island Society of Certified Public Accountants' "Annual Tax Forum" held at the Providence Marriott Downtown, a hotel on Orms Street in Providence.
As part of its presentation, the Division noted that all Rhode Islanders must have qualifying health coverage beginning January 1, 2020. Failure to have such "minimum essential coverage" in 2020 may result in a Rhode Island personal income tax penalty in 2021. So now is the time to plan ahead. To learn more, click.
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