Monday, March 15, 2021

Division of Taxation reviewing new federal law

The Rhode Island Division of Taxation is reviewing the federal law enacted on March 11, 2021 (H.R. 1319 - American Rescue Plan Act of 2021), including its provision involving the federal tax treatment of unemployment compensation for the 2020 tax year. The Division is awaiting guidance about the new law from the Internal Revenue Service. When the Division completes its analysis, the Division will post updates.