Bill Text: DE HB352 | 2015-2016 | 148th General Assembly | Draft
Bill Title: An Act To Amend Title 30 Of The Delaware Code Related To Information Return Filing Deadlines.
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Engrossed - Dead) 2016-06-29 - Reported Out of Committee (BANKING AND BUSINESS) in Senate with 4 On Its Merits [HB352 Detail]
Download: Delaware-2015-HB352-Draft.html
SPONSOR: |
Rep. Keeley & Rep. Baumbach & Sen. McDowell |
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HOUSE OF REPRESENTATIVES 148th GENERAL ASSEMBLY |
HOUSE BILL NO. 352 |
AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATED TO INFORMATION RETURN FILING DEADLINES. |
Section 1.Amend §1154(h), Title 30 of the Delaware Code by making deletions as shown by strike through and insertions as shown by underline as follows:
(h) Information
returns. — Any person (1) required to withhold, account for, and pay
over taxes under this chapter for which federal information return form W-2 is
required, (2) making any payment of salary, fee, commission or other
compensation for services to any Delaware resident individual or to any
individual nonresident for work done or services performed or rendered within
Delaware for which federal information returns form 1099 MISC or successor form
is required, or (3) otherwise withholding Delaware taxes from payment of any
wage, pension, distribution or other remuneration shall also file with the
Division of Revenue information returns with respect to each such individual to
whom such federal forms are required to be issued. If a person is required to
make and return such information reports to the Internal Revenue Service on
magnetic media under Internal Revenue Code §6011 [26 U.S.C. §6011] and
regulations thereunder or successor provision, then the information returns
required to be made under this section shall, unless excepted by the Director,
also be made on magnetic media. Returns required to be filed on magnet media
under this section shall be filed with the Division of Revenue on or before March 1 of the year following the tax year to be reported. All other
returns required to be filed under this section shall be filed with the
Division of Revenue on or before the date on which such returns are required to
be filed with the Internal Revenue Service.
Section 2.This Act shall be effective for information returns required to be filed after December 31, 2016.
SYNOPSIS
This Act conforms Delaware's deadlines for filing certain information returns to those established in the Internal Revenue Code.In an effort to combat identity theft and taxpayer fraud, federal filing dates were recently changed.For example, starting in 2017 the federal deadline for an employer to file aggregated W-2 data with the IRS will be January 31, which is the same date on which W-2s are distributed to individual taxpayers.Prior to this change, the IRS did not receive W-2 data until March 1 meaning that there has been a one-month window in which it could not readily confirm the authenticity of W-2s filed with taxpayers' returns. Like other states and the IRS, Delaware has had to devote considerable resources to combating fraud and identity theft.By conforming to the new federal standard, Delaware will have data on hand that will help identify and isolate fraudulent filings.As the State's employers will already be required to comply with the new federal deadlines, conforming Delaware's filing dates will result in no additional administrative burden. |