Q&A with the Pennsylvania Department of Revenue

PA-40 Schedule OC credits seem to be a continual issue that causes refunds to be delayed and/or billings to be issued. Is there not a better way than to send credit award letters and allocation schedules to the Bureau of Corporation Accounting Division?

Jan 22, 2018
Prior to the phase out of CS/FF, the Bureau of Corporation Taxes had to wait for the filing of the RCT-101 in order to apply the credit to corporate tax in accordance with statute. Only then was any remaining credit available for sale or pass through. Unfortunately, with the award notification coming way ahead of the corporate annual filing due date (even longer if under extension) this put a pass through request in a holding pattern. If the return suspended, the timeframe is even longer.

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Disclaimer

These documents provide a summary of the answers provided by the Department of Revenue to the PICPA Committee on State Taxation at its annual question and answer session. These documents are classified as revenue information issued for informational purposes only for the convenience of PICPA members. Pursuant to 61 Pa. Code Section 3.4, these documents should not be relied upon for any purpose or used in tax appeals. Taxpayers requiring a binding opinion on their specific fact situation may request a written letter ruling under 61 Pa. Code Section 3.3.