Has your business or tax profession been a victim of a personal data breach?A data breach is the intentional or unintentional release or theft of secure information. It can be a phishing scheme or a sophisticated cyber-attack on business computers by criminals. Criminals use this data around the country to file fraudulent tax returns. This could have a negative effect on the victim's tax accounts with state tax agencies. If your business or tax profession has been a victim of a personal data breach, you should provide notice to states be emailing [email protected]. Latest News:Tax Relief for Illinois & Tennessee Residents Affected by TornadoesBetween December 10-11, 2021, severe tornadoes caused extensive damage across multiple states in the Midwestern and Southern United States. The IRS has extended the tax-filing deadline for 2021 to May 16, 2022 for those affected by this natural disaster in counties designated by FEMA in Illinois and Tennessee. To read the full press release from the IRS, please click here. For information from the state of Tennessee on sales and use tax, please click here. For information from the state of Tennessee on the extended filing deadline for franchise and excise tax, please click here. Tax Relief for Kentucky Residents Affected by TornadoesBetween December 10-11, 2021, severe tornadoes caused extensive damage in parts of Western Kentucky and surrounding areas. The IRS has extended the tax-filing deadline for 2021 to May 16, 2022 for those affected by this natural disaster. To read the full press release, please click here. Kentucky Governor Andy Beshear has announced that the Kentucky Department of Revenue (DOR) will honor the IRS special tax relief for taxpayers areas designated by the Federal Emergency Management Agency (FEMA) as qualifying for individual assistance. For a full listing of counties qualifying for this relief, please click here. Under the provisions of KRS 131.081(11), Kentucky honors federal extensions related to disaster relief for filing of income tax returns, including payment of tax due. This extension to file and pay taxes does not apply to sales tax and other type of taxes. However, taxpayers with disaster-related delays who are seeking filing extensions or have been assessed penalties for taxes other than income may contact DOR to request an extension or a waiver of penalties. Sales and Use tax refunds, filing extensionThe federal disaster declaration also activates the provisions of KRS 139.519, which provides for a refund of Kentucky sales and use tax paid for building materials permanently installed in the repair or replacement of structures damaged in counties covered under a federal disaster relief declaration. Click here for answers to frequently asked questions. Kentucky Administrative Regulation 103 KAR 31:170 provides guidelines for how to submit a refund request with the required proper documentation. The applicable forms for property owners for completed repairs or reconstruction of buildings damaged or destroyed in the disaster areas are available here. For the full update from the Kentucky Department of Revenue, please click here.
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