Important Notice Published On Recent Law Changes

The North Carolina Department of Revenue has published an important notice to provide guidance to taxpayers on how recently enacted laws may impact the filing of North Carolina tax returns.

The notice includes the following information:

• Updated Reference to the Internal Revenue Code
• New Decoupling Adjustment for Domestic Research and Experimental Expenditures
• New Tax Deduction for Eligible Timber Casualty Losses
• New Itemized Deduction for Gambling Losses
• Impact on NC Individual and Corporate Income Tax Returns

Read the notice.