NEWS RELEASE
FRANKFORT, KY (Aug. 4, 2016) – The Kentucky Department of Revenue and tax practitioner community have joined forces to make it easier for residents and businesses to comply with Kentucky’s tax code.
Transparency, efficiency and equity in administering the state’s tax code were key tenets of the Kentucky Society of CPAs (KyCPA) and Kentucky Chamber of Commerce’s recent legislative proposals. While the legislation did not pass, work groups met and already produced a number of changes, including a comprehensive review of the DOR’s tax notification system and the creation of a tax practitioner-only hotline.
Later this summer, joint work groups with representatives from Revenue, KyCPA and the Kentucky Chamber will begin to address other issues to help taxpayers and practitioners. Key focus areas are publishing reliable tax guidance, updating Kentucky’s Taxpayer Bill of Rights, and thoroughly reviewing the tax appeals process.
“The biggest issue our tax professional members have faced over the past decade is the lack of reliable guidance on our tax laws,” said Kentucky Society of CPAs CEO Penny Gold. “We strongly believe additional guidance will actually increase the state’s cash flow over time by minimizing errors and unnecessary disputes. We applaud the Department for coming to the table with us so we can begin to resolve these important issues.”
“Providing more guidance is one of our top priorities,” said Department of Revenue Commissioner Dan Bork. “This is accomplished through developing clear administrative regulations and publishing more guidance on our new user-friendly website. Taken together, we believe these actions will help simplify filing responsibilities for taxpayers and CPA’s”.
Clear tax guidance also impacts Kentucky’s economic development efforts. Businesses want to locate, invest and expand in states that have competitive tax rates. They also want reasonable assurances that tax laws will be administered transparently, efficiently, consistently and equitably.
“To attract and retain more businesses and jobs in Kentucky, it’s vitally important that the public and business community have confidence that our tax code will be consistently and fairly enforced,” said Kentucky Chamber President and CEO Dave Adkisson. “Though the Chamber hopes the legislature will come together on comprehensive tax reform to make our state more competitive, these meetings with the Department will send an immediate signal that Kentucky is serious about improving our state’s overall tax climate.”
“This is the way public policy should work, with state agencies actively engaging the private sector,” added Gold. “We hope the results of these meetings will have other states looking to Kentucky as a model for tax administration.”