Thursday, December 19, 2019

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.