Thursday, January 31, 2013

E-filing opens for personal income tax returns

The Rhode Island Division of Taxation today began accepting electronically filed personal income tax returns for tax year 2012. Click here for details.

Penalty relief for farmers, fishermen

The Rhode Island Division of Taxation announced today that it is providing certain relief this season for many farmers and fishermen. The relief has to do with penalty for underpayment of estimated tax. Click here for details.

Practitioner Alert: Form 8453 discontinued

The Rhode Island Division of Taxation has discontinued Form RI-8453, “R.I. Individual Income Tax Declaration for Electronic Filing.” 

Form RI-8453 formerly was associated with an e-filed return. The form was used by a taxpayer to formally give consent for the direct deposit of a refund or the electronic payment of tax. The form was not submitted to the Tax Division; a copy was kept by the taxpayer and his or her preparer.

Effective for the current filing season, the form has been retired. The Rhode Island Division of Taxation will recognize the federal Form 8879, “IRS e-file Signature Authorization,” or its equivalent, as a substitute.

Monday, January 28, 2013

E-filing for tax year 2012 business returns

The Rhode Island Division of Taxation today began accepting electronically filed Forms RI-1065 (filed by partnerships and many LLCs) for tax year 2012.

The agency also began accepting e-filed Forms RI-1120C (for entities taxed as C corps) and Forms RI-1120S (for entities taxed as S corps) for tax year 2012.

The agency later this week is scheduled to start accepting e-filed Forms RI-1040 for tax year 2012.

Raising awareness in Woonsocket

Rhode Island Tax Administrator David M. Sullivan was among a number of federal and state officials who attended an event on Friday at the Museum of Work and Culture in Woonsocket to help raise awareness about the earned income credit.

Besides applying for the federal earned income credit, eligible taxpayers may also apply for the Rhode Island earned income credit, Sullivan said at the event. The credit is aimed at helping low- and moderate-income workers and families.

Tax Administrator David Sullivan

Thursday, January 24, 2013

Latest newsletter looks at tax year 2013

The Tax Division's latest newsletter, posted today, looks at changes that apply to tax year 2013.

Other topics include a new computer system that's in the works, unemployment taxes, and a reminder for LLCs -- including single-member LLCs. Click here to view.

Tuesday, January 15, 2013

New Administrative Decision posted

The Tax Division has posted its latest Administrative Decision.

At issue is whether use tax applies to the purchase of a car.

Newsletter focuses on filing season

The Tax Division today posted on its website a special edition of its newsletter, focusing on filing season 2013.

Rhode Island's tax-filing season officially begins a week from today.

Friday, January 11, 2013

State tax filing season starts January 22

The state tax filing season will start January 22, Rhode Island Tax Administrator David M. Sullivan announced today.

Click here for details.

Sales tax reconciliation can now be done online

Attention, retailers: You can now do your annual sales tax reconciliation online.

The online option can handle the regular annual sales tax reconciliation, or the annual sales tax reconciliation for retailers of alcoholic beverages, whichever applies to you.

To use the online filing system, you must have already created your Rhode Island business tax EFT filing account, and you must use the ACH debit option. 

The annual sales tax reconciliation is due on or before January 31, 2013, whether filed online or on paper. Click here for more information about the annual reconciliation.

Monday, January 7, 2013

Tax forms posted for tax year 2012

Rhode Island personal income tax forms and booklets covering tax year 2012 are now available on the Rhode Island Division of Taxation website:

The Division of Taxation has also posted many business tax forms covering tax year 2012:

Final report on tax amnesty

The Tax Division has posted its final report on Rhode Island's 2012 tax amnesty program:

Click here for the summary.

Click here for the report itself.