[Ritaxpronews] Rhode Island Division of Taxation -- proposed regulations

[Neil Downing]

Hi, Everyone.
 
The Rhode Island Division of Taxation today proposed a regulation
involving penalties that may be imposed on paid tax preparers who fail
to comply with due diligence requirements.
 
Regulation PIT 14-23 (
http://www.sos.ri.gov/documents/archives/regdocs/holding/DOTAX/Tax_%20Preparers_3_Parts.pdf
) would help to implement a state law enacted in June 2013 that
established specific penalties -- civil and criminal -- for paid
preparers who prepare Rhode Island returns with the intent to wrongfully
evade or reduce a tax obligation. (See Rhode Island General Laws Chapter
44-68.) 
 
A public hearing on the regulation is scheduled for 9:30 a.m. on
Wednesday, September 17, 2014, at the Rhode Island Division of Taxation,
One Capitol Hill, Providence, R.I.  
 
Also at that hearing, the Division of Taxation will take public comment
regarding two regulations that are scheduled for repeal because the
underlying statutes have been repealed: Regulation CT 88-09 (
http://www.sos.ri.gov/documents/archives/regdocs/holding/DOTAX/Net_Worth_Tax_3_Parts.pdf
), “Business Corporation Tax/Net Worth Tax,” and a regulation which was
related to the study of combined reporting, Regulation CT 11-15 (
http://www.sos.ri.gov/documents/archives/regdocs/holding/DOTAX/Combined_reporting_-_pro_forma_3_parts.pdf
), “Combined Reporting (pro forma).”
 
-- Neil 
 
 
Neil Downing
Chief Revenue Agent
Rhode Island Division of Taxation
One Capitol Hill
Providence, R.I. 02908
 
Neil.Downing at tax.ri.gov
 
(401) 574-8115
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