News+Alerts

Due to delays in submitting fiduciary returns electronically to the Louisiana Department of Revenue (LDR) experienced by Wolters Kluwer customers, LDR will accept a paper filed 2021 Form IT-541 provided that a 2-D barcode is present on the return when prepared using Wolters Kluwer software packages.

LDR Guidance Regarding Federal and State Changes to Deductions for Net Operating Losses

Act 454 of the 2021 Regular Session of the Louisiana Legislature authorizes the Louisiana Youth Jobs Tax Credit(“Youth Jobs”), as provided in R.S. 47:6028. The purpose of the Louisiana Department of Revenue Information Bulletin 22-009 is to provide guidance concerning eligibility and application for the credit.

Read the latest on LDR RR 22-001 regarding Application of 280C Deduction to Federal Employee Retention Credit.

Be prepared! Tune in to one of two IRS offerings via Zoom on 3/30 or 3/31 to see what some of the most recent scam emails look like.

The Louisiana Department of Revenue has updated RIB 22-007 regarding Partnership Filings for the 2021 Tax Year; plus check out list of approved corporate state E-file software vendors.

Read LDR RIB 22-007 including the footnotes, as well as LDR's targeted ‘go live’ dates for E-file.

In an effort led by the AICPA, the State CPA Societies reached out to each of our state’s US Senate and House Members asking them to join bipartisan letters to the Treasury Department requesting assistance with IRS service issues. The AICPA has joined with several other organizations in a coalition that adds even more voices to the importance of this issue.

Due to the ongoing state of emergency related to Hurricane Ida recovery efforts, and in consideration of the current level of COVID-19 cases throughout Louisiana, the Secretary has determined that an administrative waiver of this filing requirement is warranted and shall be effective for the 2021 tax year. Service recipients are not required to transmit 2021 IRS Forms 1099-NEC to LDR that would otherwise be due February 28, 2022.

The Louisiana Department of Revenue (LDR) has updated Revenue Information Bulletin (RIB) No. 21-024 Automatic Extensions Granted for Eligible Individuals and Businesses Impacted by Hurricane Ida. The LDR RIB was updated on December 23, 2021, to extend income and franchise tax deadlines to February 15, 2022, in response to IRS IR-2021-254 which was issued on December 22, 2021.

Victims of Hurricane Ida in six states now have until February 15, 2022 (extended from January 3) to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.

FinCEN announced October 5, 2021, that victims of Hurricane Ida, the California Wildfires, Tennessee Severe Storm and Flooding, Michigan Severe Storms, Flooding, and Tornadoes, and Tropical Storm Fred have until December 31, 2021, to file Reports of Foreign Bank and Financial Accounts (FBARs) for the 2020 calendar year.

The latest on Hurricane Ida tax relief and assistance, PLUS annual e-File shutdown approaches

The U. S. Department of Labor (DOL). The DOL has said it will start contacting plan sponsors and firms in November regarding the paperwork and documentation for submission if one of their employee benefit plan (EBP) audits is selected for the audit quality assessment study.

Due to the devastation caused by Hurricane Ida and the ongoing state of emergency, the Louisiana Department of Revenue (“LDR”) is granting automatic extensions to certain taxpayers in impacted areas. This bulletin explains which taxpayers are eligible for automatic extensions, by tax type, based on upcoming deadlines.

LDR Tax Return Filing and Tax Payment Deadlines Extended for Certain Tax Returns and Payments Due During Hurricane Ida

Victims of Hurricane Ida that began on August 26 now have until January 3, 2022, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.

Low-interest federal disaster loans are now available to Louisiana businesses and residents as a result of President Biden’s major disaster declaration.

We, like all Louisiana residents, are aware of the devastating impacts of Hurricane Ida and know too well that we have a long road to recovery ahead. While the safety of your family and staff is paramount, we also understand the potential impact on the filing deadlines. Our Advocacy Team is already hard at work on emergency declaration filing issues and will keep you updated if guidance is issued.

Starting Monday, Aug. 16, 2021, charities, faith-based organizations and small businesses can apply for grants to support COVID-19 response and relief efforts in Louisiana through the Louisiana Nonprofit and Small Business Assistance Program.