Missouri Department of Revenue Tax Bulletin [Edition1, Volume 12]

Resources for Businesses and Tax Professionals

Issue Number:  [Edition1, Volume 12} JULY 2, 2015
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e-News for Tax Professionals 2015-26

Several topics of interest are included in this issue for Tax Professionals

Issue Number:  2015-26 July 2, 2015
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Happy Independence Day from MDC!

We at the Missouri Department of Conservation wish you and yours a safe and fun Independence Day! More:


Tax industry and IRS team up to fight identity theft refund fraud

By Sally P. Schreiber, J.D.
June 12, 2015

Tax software vendors will share analytical information about their customers’ tax filings with the IRS under new agreement announced by the IRS on Thursday. Read More:


Congress makes changes to tax code in trade preferences act

By Alistair M. Nevius, J.D.
June 25, 2015

The Trade Preferences Extension Act of 2015 (H.R. 1295), which passed the House of Representatives on Thursday and now goes to President Barack Obama for his signature, contains a few tax provisions in addition to the trade measures that were the focus of the bill. Read More:


Gov. Nixon signs legislation authorizing Missouri ABLE saving accounts for Missourians with disabilities

June 29, 2015
Missouri ‘Achieving a Better Life Experience’ accounts allow families to save money to assist with the care of Missourians with disabilities Read More:


e-News for Small Business June 24, 2015


Issue Number:  2015-6
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Proposed Regulations Offer Guidelines for New State-Sponsored ABLE Accounts for People with Disabilities

WASHINGTON — The Internal Revenue Service today released proposed regulations implementing a new federal law authorizing states to offer specially-designed tax-favored ABLE accounts to people with disabilities who became disabled before age 26.

Issue Number:  2015-91 June 19, 2015
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Helpful Tip to Ensure Your Tax Rate Remains Low

Soon, tax rates for calendar year 2016 will be calculated from each employer’s account experience through June 30, 2015, and new employers will receive a new employer tax rate.
Here are a few tips to maintain a low tax rate or lower your tax rate:
•    Pay all taxes due in a timely manner
•    File all Missouri Quarterly Contribution and Wage Reports by July 31
•    Limit layoffs
•    Timely protest any claim that is not due to lack of work or if you believe the claimant is not eligible for benefits
Reports and tax payments paid by July 31, will be credited to your individual account experience and used in the calculation of the tax rate for 2016.
Claims activity, untimely reporting and late payments may cause an employer’s rate to increase.
More information about tax rates is available; visit www.labor.mo.gov/DES/Employers/tax_rates.


Nearly 44,000 Tax Return Preparers Completed the First Voluntary Education Program Offered by the IRS to Prepare for the 2015 Filing Season

WASHINGTON – Hurricane season starts next week and the Internal Revenue Service advises individuals and businesses to safeguard their records against natural disasters by taking a few simple steps.

Issue Number:  2015-90 June 18, 2015
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NSA Proposes Tax Practitioners Bill of Rights

ALEXANDRIA, VA, June 16, 2015 — In the wake of a proposed $838 million cut in funding for the Internal Revenue Service (IRS), the National Society of Accountants (NSA) has issued a “Tax Practitioners Bill of Rights.” Read More:


St. Louis Chapter Meeting Notice

The next St. Louis Chapter meeting will be July 27, 2015

Read more: St. Louis Chapter Meeting

Kansas City Chapter Meeting Notice

The next Kansas City Chapter Meeting scheduled for
July 23, 2015

Read more: Kansas City Chapter Meeting

Heart of the Ozarks Chapter

The next Heart of the Ozarks Chapter meeting will be
July 23, 2015

Read more: Heart of the Ozarks Chapter Meeting

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~Members Memo~

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Upcoming Events

Bob Jennings Summer Seminar
Kansas City, MO
8/13/15 thru 8/14/15

Annual Accounting Seminar

Lake of the Ozarks, MO
9/28/2015 thru 9/29/2015

Bob Jennings 1040 Tax Seminar
St. Louis, MO
12/3/2015 thru 12/4/2015

12/1/16 thru 12/2/16
11/30/17 thru 12/1/17

Bob Jennings 1040 Tax Seminar
Branson, MO
12/3/2015 thru 12/4/2015

12/1/16 thru 12/2/16
11/30/17 thru 12/1/17

Bob Jennings 1040 Tax Seminar
Kansas City, MO
12/10/2015 thru 12/11/2015

12/15/16 thru 12/16/16
12/14/17 thru 12/15/17

Annual Convention
Springfield, MO
2016 Details Later



Inside the Member's Section

The Latest Updates from Gallagher Consultants, Inc. and Doug Blade, CPA

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2015 Tax Reference Manual for MO Legislators