Texas – Taxpayer Records Requirement Amended

SALT Report 2834 – The Texas Comptroller adopted an amendment to the sales tax rule governing taxpayer record requirements.  The amendments reflects that any taxpayer who is claiming a refund or credit is required to keep contemporaneous records to substantiate the credit or refund for a minimum of four years from the date in which the record is made, for any period in which any tax, penalty, or interest may be assessed, collected, or refunded, or in which an administrative hearing or judicial proceeding is pending, unless the Comptroller authorizes a shorter retention period.  Additionally, the provisions regarding the CPA audit program have been deleted.

The amendments to rule 34 TAC §3.282 take effect on August 15, 2013.

For Further Information

Texas Comptroller of Public Accounts – Rule 34 TAC §3.282