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AL HB46
Bill
Status
5/17/2017
Primary Sponsor
Roderick Scott
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AI Summary
HB46 Summary
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Requires tax preparers to include their federal Preparer Tax Identification Number (PTIN) on all Alabama income tax returns prepared for compensation, effective for tax years beginning January 1, 2018.
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Establishes a $50 civil penalty per offense (not to exceed $25,000 per calendar year) for tax preparers who fail to provide their PTIN, unless the failure is due to reasonable cause and not willful neglect.
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Aligns business privilege tax return due dates with corresponding federal income tax return dates; for financial institutions, due dates correspond with Alabama excise tax return dates.
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Codifies the maximum business privilege tax for Real Estate Investment Trusts (REITs) at $500,000 per taxpayer per year under Section 40-14A-22.
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Changes the title of "Taxpayer Advocate" to "Taxpayer Assistance Officer" throughout Title 40, Chapter 2A and authorizes the appointment of multiple Taxpayer Assistance Officers.
Legislative Description
Tax preparers, required to provide federal identification number on Alabama income tax returns, buisness privilege tax return date made the same for state and federal returns, the maximum business privilege tax amount for a Real Estate Investment Trust (REIT); the name of the Taxpayer Advocate changed to the Taxpayer Assistance Officer, and allows for multiple Taxpayer Assistance Officers, Alabama Taxpayer Protection and Assistance Act, Secs. 40-14A-22, 40-14A-25 am'd.
Taxation
Last Action
Forwarded to Governor on May 17, 2017 at 5:13 p.m. on May 17, 2017.
5/17/2017