SALT Report 1301 – The Washington State Department of Revenue released the latest edition of their Tax Facts newsletter. The twice-yearly publication summarizes recent updates and changes to tax laws administered by the Department of Revenue.
Recent changes affect the requirement for filing tax returns. If you have are required to file a monthly, quarterly or annual return, you must file a tax return even if you had no business activity and owe no taxes. If you are an active non-reporting business and had business activity grossing over $28K or were required to collect sales tax you must file a return as well.
Additionally, the newsletter offers tutorials on E-file, the department’s online tax return filing system. The tutorial shows taxpayers how E-file can customize their online return to show only the fields they need, automatically checks for errors, and calculates the business and occupation (B&O) tax credit for small businesses. Once completed, E-file provides taxpayers with an immediate proof of delivery and a confirmation number. All monthly and quarterly filers are required to file and pay electronically.
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