Estate tax -- revision

The Rhode Island Division of Taxation has revised an Advisory, originally posted November 9, 2021, about the estate tax. As noted in the original Advisory, the credit amount of $74,300 applies for estates of decedents dying on or after January 1, 2022. However, under the revised Advisory, the threshold amount has been changed to $1,648,611 for decedents dying on or after January 1, 2022. To view the revised Advisory, click here.

The Security Summit issues warning about fake charities on #GivingTuesday

 

The Rhode Division of Taxation, the Internal Revenue Service (IRS), and other partners in the Security Summit today warned taxpayers to be wary of fake charities that are looking to take your money and your sensitive financial and personal information.

Learn more here: https://tax.ri.gov/media/17831/download?language=en

National Tax Security Awareness Week

 To help taxpayers and tax professionals, the Security Summit shared 10 basic steps everyone should remember during the holidays and as the 2022 tax season approaches.

10 Key Steps to Protect Sensitive Information - Read them and the full Advisory here: https://tax.ri.gov/media/17826/download?language=en

Deadline for Certain Reporting on Health Insurance Mandate Extended

The Rhode Island Division of Taxation has extended, until March 31, 2022, the deadline by which employers must file with the Division certain reports involving Rhode Island’s individual health insurance mandate.

The detailed Advisory can be found here.

Latest Administrative Decisions

The Rhode Island Division of Taxation has posted two new Administrative Decisions:

• Decision No. 2021-08 looks at whether the taxpayer's claimed refunds for the payment of tax on fuel purchases should have been denied.
• Decision No. 2021-09 focuses on whether the taxpayer owes sales tax and the tax on other tobacco products.

Reminder: Annual e-file shutdown tomorrow

The Rhode Island Division of Taxation reminds taxpayers and tax preparers that the Division’s annual electronic filing shutdown and switchover for personal and business returns will occur tomorrow -- Saturday, November 20, 2021, allowing the Division to prepare its system for the upcoming tax-filing season. For more information, click here.

Division unveils redesigned website

The Rhode Island Division of Taxation today launched its redesigned website. The site features a built-in translation option, mobile-friendly formatting, and an intuitive interface that uses a central toolbar at the top of the screen.

The redesigned website continues the Division’s work of engaging with Rhode Island taxpayers and assisting them through education and access to helpful resources. To view the website, please use the following link: https://www.tax.ri.gov 

Annual e-file shutdown; update on PPP

Modernized e-file (MeF)

The Rhode Island Division of Taxation’s annual electronic filing shutdown and switchover for personal and business returns will occur on Saturday, November 20, 2021, allowing the Division to prepare its system for the upcoming tax-filing season. For more information, click here.

Paycheck Protection Program (PPP) loans

A publication posted by the Division on November 3, 2021, provided answers to frequently asked questions (FAQs) about the Rhode Island tax treatment of Paycheck Protection Program (PPP) loan forgiveness. The Division has revised that publication by adding four new questions. That revised publication, and an updated form (RI-PPP – Entity), are available on the Division’s special PPP webpage. To view the page, click here.

Estate tax credit amount and threshold

The Rhode Island Division of Taxation today announced the Rhode Island estate tax credit amount and threshold for the estates of decedents dying on or after January 1, 2021. For more information, click here.

Learn more about taxation of PPP loan forgiveness

The Rhode Island Division of Taxation has created a webpage that will serve as a storehouse for information about the Rhode Island tax treatment of Paycheck Protection Program (PPP) loan forgiveness.

“This is an easily accessible resource for businesses, tax professionals, and others who want to find out the latest information about the taxation of PPP loans,” said Rhode Island Tax Administrator Neena Savage. “It is part of our continuing effort to provide taxpayer-friendly and business-friendly services.”

For more information, click here. To go directly to the new webpage, click here.