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  • September 1, 2021

    Due to the extreme hardships placed on Alabama motor vehicle registrants in certain counties who may be unable to register their motor vehicles, renew their motor vehicle registrations or pay property taxes on their motor vehicles due to Hurricane Ida, which resulted in the closing of county licensing official’s offices during normal business hours, it is necessary to assist and expedite all efforts of relief.

  • August 5, 2021

    The law governing payment of Alabama’s Financial Institution Excise Tax changed in 2019, and affected financial institutions should take a closer look at their payments to ensure they aren’t underpaying and to avoid penalties and interest.

  • June 11, 2021

    This session will cover the key changes related to the reporting of income and credits from pass-through entities which elect to be taxed at the entity level in Alabama (“Electing PTEs”) on the individual Alabama income tax returns of partners, shareholders, and members. The session will also cover the key relief provisions related to quarterly estimated tax payments for both the Electing PTEs and the individual partners, shareholders, and members.

  • April 8, 2021

    At the urging of the Alabama Society of CPAs and other groups, the Alabama Department of Revenue (ADOR) recently issued preliminary guidance on (a) how the new pass-through entity (PTE) tax election interacts with the corporate estimated tax rules, and (b) what happens if a taxpayer paid Alabama income tax on its federal “GILTI” income or on the deemed income resulting from a state or local government or IDA donating land, issuing a site prep grant, etc. to a new or expanding industry. The latter is now taxable under IRC section 118(b)(2) as a result of the Tax Cuts and Jobs Act of 2017 (TCJA).

  • April 5, 2021

    The Alabama Department of Revenue (ALDOR) is offering guidance to pass-through entities to help them comply with recent changes in tax law.

  • April 5, 2021

    On February 12, 2021, Governor Kay Ivey signed into law Act 2021-1. The following preliminary guidance is being providing in regard to Sections 7 and 8 of the act.

  • March 24, 2021

    The fine print on the Alabama Department of Revenue’s guidance on the topic said that while it can waive late penalties for payments made by May 17, it is “not authorized to waive interest, and any interest accruing from April 15, 2021, through the actual payment date will be due.”

  • March 23, 2021

    The AICPA welcomed the IRS’s postponement of the April 15 income tax filing and payment deadline to May 17 but said the measure falls far short of needed taxpayer relief.

  • March 18, 2021

    On March 17, the Treasury Department and the IRS issued IR-2021-59, which provides for an automatic extension of the filing and payment date for individual 2020 income tax returns from April 15, 2021, to May 17, 2021. The IRS release specifically stated that the relief does not apply to estimated tax payments that are due on and still must be paid by April 15, 2021.