Tax News You Can Use

Co-tenants and the Elderly Homeowner/Renter Credit

Montana Department of Revenue | April 10, 2019

We’ve been asked if individuals renting an apartment or a house as co-tenants are considered a single household or two households for the Elderly Homeowner/Renter Credit. The department recognizes the ...

First Estimated Tax Payments Due April 15

Montana Department of Revenue | April 10, 2019

All individual taxpayers, except farmers and ranchers, must make estimated income tax payments if their estimated tax liability for 2019 after withholding and credits is more than $500. Taxpayers receiving ...

Wage Withholding – Time to Register for the ABC Clinic Near You

Montana Department of Revenue | April 10, 2019

The Montana Department of Revenue will again partner with the Montana Department of Labor & Industry for the 2019 Assistance for Business Clinics (ABC) across the state. The clinics provide ...

How to Make Voluntary Contributions on Your Tax Return

Montana Department of Revenue | April 10, 2019

You can use your tax return to donate to four programs: Nongame Wildlife Program Your contributions ensure the well-being of Montana’s watchable wildlife species. Child Abuse Prevention Your contributions fund ...

Social Security, Pensions and Qualified Plan Distributions are only Taxable in the State of Residence

Montana Department of Revenue | March 28, 2019

Retirees who moved out of state often contact the department asking if their social security benefits or other qualified plan distributions are taxable in Montana. The general rule, which allows ...

Interest on Underpayment of Estimated Taxes on Form 2

Montana Department of Revenue | March 28, 2019

We require estimated tax payments when the taxes owed after the deduction of credits and withholding is more than $500. Publication 1 describes when a taxpayer must make estimated taxes. ...

Extension Payments are Unnecessary to File on Extension

Montana Department of Revenue | March 28, 2019

Since Tax Year 2017, you no longer need to make a payment by the due date of the return to get an extension to file. All taxpayers can enjoy a ...

E-file Montana Disregarded Entity Returns in TAP

Montana Department of Revenue | March 21, 2019

You can file the Montana Disregarded Entity (Form DER-1) tax return electronically in the Montana TransAction Portal (TAP). You need a TAP account to file the return. If you do ...

Montana Tax Tip: Property Tax Relief for Disabled Veterans

Montana Department of Revenue | March 19, 2019

Montana veterans have through April 15 to apply for the Montana Disabled Veteran Assistance Program, which can provide relief on property taxes. Veterans with 100 percent service-related disabilities and their ...

Federal Income Tax Deductions on Montana Tax Returns

Montana Department of Revenue | March 13, 2019

Several tax practitioners contacted us about the itemized deduction for federal income taxes paid. The Form 2 instructions limit the amount of the itemized deduction to the amount of federal ...

Public Notice – Universal System Benefits Reports

Montana Department of Revenue | March 12, 2019

The Montana Department of Revenue has received 2018 Universal System Benefits Reports from the companies listed below. You may review all USB Reports at our Central Office: 125 N. Roberts, ...

Changes to the College Contribution Credit

Montana Department of Revenue | March 7, 2019

The college contribution credit a taxpayer may claim on the Montana College Contribution Credit (Form CC) is calculated based on the amount of charitable contribution made by the taxpayer to ...

Identity Verification Letters for Tax Year 2018 Are Going Out

Montana Department of Revenue | February 28, 2019

Tax Year 2018 Identity Verification Letters are being sent out. If you or a client receive an Identity or Address Verification Letter, respond ASAP to avoid a refund delay. Identity ...

Miscellaneous Itemized Deductions for Tax Year 2018

Montana Department of Revenue | February 28, 2019

The federal Tax Cuts and Jobs Act suspended all miscellaneous deductions referenced under IRC 67, for the tax years 2018 through 2025. Miscellaneous itemized deductions are those deductions that would ...

Reporting Write-Ins on Form 2

Montana Department of Revenue | February 28, 2019

Write-ins refer to additional adjustments to income that are not reported on the federal Form 1040, Schedule 1, but which must be taken into account to determine federal adjusted gross ...

Filing for a Waiver from Pass-Through Entity Withholding

Montana Department of Revenue | February 28, 2019

If you prepare Montana returns for pass-through entities, be aware that they are subject to certain withholding requirements. The entity may qualify for a waiver from the withholding requirements for ...

Military Spouse Filing Updates

Montana Department of Revenue | February 21, 2019

On December 31, 2018, the Servicemembers Civil Relief Act was amended so that a taxpayer moving to a state to be with their spouse who is a military servicemember may ...

Claim Refunds for Tax Years 2013 and 2015 before April 15

Montana Department of Revenue | February 21, 2019

If your or your client did not file a Montana individual income tax return for tax year 2013 or 2015, they may have unclaimed payments for that year and could ...

Clarifications Regarding the Deductibility of Federal Income Taxes

Montana Department of Revenue | February 21, 2019

As in previous years, you can deduct up to $5,000 of federal income taxes paid on your Itemized Deductions Schedule, line 4. At the request of some tax practitioners, the ...

MW-4 Wage Withholding Exemptions to be Renewed Each Year

Montana Department of Revenue | February 14, 2019

Last December, the Department released Form MW-4, which includes a section for employees who qualify for one of four exemptions from wage withholding: Enrolled tribal members living on the reservation ...

Calculating Gross Household Income for the Elderly Homeowner/Renter Credit

Montana Department of Revenue | February 14, 2019

The 2018 Form 2 includes a new schedule for calculating the Elderly Homeowner Renter Credit. When determining gross household income, the claimant reports information from the Montana Forms 2 and ...

Form NOL for 2018 is Now Available

Montana Department of Revenue | February 6, 2019

The Montana Net Operating Loss (Form NOL) for 2018 is now available. It includes guidance on a new class of net operating losses (NOL) and how to include the loss ...

March 1 Deadline Reminder for Property Owners

Montana Department of Revenue | February 6, 2019

We would like to remind owners of real and personal property about several important deadlines approaching soon. Business and Industrial Equipment and Machinery Reporting Business and industrial equipment owners need ...

Transferring Your Montana Medical Savings Account (MSA)

Montana Department of Revenue | January 30, 2019

In general, an account holder may transfer all or part of their account to an immediate family member—free of tax—at any time, even upon death. The recipient must: Be an ...

Montana Publication 1: Prepaying Income Tax is Now Available

Montana Department of Revenue | January 30, 2019

Montana Publication 1: Prepaying Income Tax is now available in My Revenue. This publication explains the Montana pay-as-you-go system, which includes taxes and estimated taxes. The publication provides information on ...

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Co-tenants and the Elderly Homeowner/Renter Credit

First Estimated Tax Payments Due April 15

Wage Withholding – Time to Register for the ABC Clinic Near You

How to Make Voluntary Contributions on Your Tax Return

Social Security, Pensions and Qualified Plan Distributions are only Taxable in the State of Residence

Interest on Underpayment of Estimated Taxes on Form 2

Extension Payments are Unnecessary to File on Extension

E-file Montana Disregarded Entity Returns in TAP

Montana Tax Tip: Property Tax Relief for Disabled Veterans

Federal Income Tax Deductions on Montana Tax Returns

Public Notice – Universal System Benefits Reports

Changes to the College Contribution Credit

Identity Verification Letters for Tax Year 2018 Are Going Out

Miscellaneous Itemized Deductions for Tax Year 2018

Reporting Write-Ins on Form 2

Filing for a Waiver from Pass-Through Entity Withholding

Military Spouse Filing Updates

Claim Refunds for Tax Years 2013 and 2015 before April 15

Clarifications Regarding the Deductibility of Federal Income Taxes

MW-4 Wage Withholding Exemptions to be Renewed Each Year

Calculating Gross Household Income for the Elderly Homeowner/Renter Credit

Form NOL for 2018 is Now Available

March 1 Deadline Reminder for Property Owners

Transferring Your Montana Medical Savings Account (MSA)

Montana Publication 1: Prepaying Income Tax is Now Available

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