House of Representatives

HB 2247

taxpayer services; technical corrections

Sponsor: Rep. May

X	Committee on Ways and Means
	Caucus and COW
	Third Read
	As Passed the House

HB 2247 makes technical changes and clarifies the definition of tax ruling in the case of closing agreements to conform to existing statute.

History

HB 2247 conforms the definition of tax ruling under closing agreements to the definition in the Taxpayers’ Bill of Rights. The definition for tax ruling is “a statement issued by the director and denominated as a tax ruling or a tax procedure.”

Closing agreements are used by the Department of Revenue (DOR) to resolve disputed audits and refund claims where there is a legitimate dispute as to the liability of the taxpayer or DOR and both the taxpayer and the DOR are able to reach a reasonable consensus regarding what would be a fair settlement. Typically closing agreements resolve the financial liability of the taxpayer or the State and often settle the tax treatment of the disputed matters as well.

Provisions

· Conforms the definition of tax ruling with the Taxpayers’ Bill of Rights.

· Makes technical changes.

·

·

· ---------- DOCUMENT FOOTER ---------

· 45th Legislature

· Second Regular Session 2 January 25, 2002

·

· ---------- DOCUMENT FOOTER ---------