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Information on new forms, law changes, or other changes to the Individual & Corporate Tax Forms for the 2007 tax season.
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Form Changes
Initial Return
Form BPT-IN will be used for all entities filing the initial return. The Forms PPT and CPT will no longer be used for initial returns. The checkboxes on these returns have been removed.Form BPT-V - Business Privilege Tax Voucher is required to submit payments due with the 2008 Business Privilege tax returns.
Financial Institution Excise Tax
Form ET-1C - Taxpayers electing to file a consolidated excise tax return must complete the new Form ET-1C. Form ET-1C was designed to summarize tax data from each of the separate companies included in the consolidated group. A Proforma Form ET-1 should be completed for each member of the consolidated excise tax group. See instructions for Form ET-1C for additional information.
Form FIE-V - Financial Institution Excise Tax Payment Voucher is required to submit payments due with all 2008 excise tax returns. Any excise tax return payment mailed to the Department should be remitted with Form FIE-V. Payments of $750 or more are required to be remitted electronically. If the payment is made electronically, do not remit Form FIE-V.
Electronic Filing - The Alabama Department of Revenue is accepting the electronic filing of the Alabama Corporate Income Tax Returns, schedules, forms, and correspondence for tax years 2006 and forward. For additional information and links to software providers, visit the Corporate E-file main page at http://www.revenue.alabama.gov/incometax/corpefilemain.htm.
Form 20C-C - is now used to file your Consolidated Corporation Income Tax Return.In
order for Form 20C-C to be complete, a Proforma Form 20C should be completed, including all appropriate schedules, for each separate nexus member of the Alabama Affiliated Group (AAG) and attached behind Form 20C-C. Any Form 20C-C filed without the completed and attached 20C’s for the separate members of the AAG, will be considered incomplete. See instructions for Form 20C-C for additional information.Form 20C-AS - Alabama Affiliations Schedule has been included on page 2 of Form 20C-C, Consolidated Corporation Income Tax Return to replace Form 20C-AAGIS for tax year 2007 and forward.
Form BIT-V - Business Income Tax Voucher is required to submit payments due with the 2007 business income tax returns and/or the 2008 estimated tax payments.
Form 20CD - Estimated tax payment voucher, is no longer used and will not be accepted for the 2008 estimated payments.
Form 20-E - is now used to extend Forms 20C, 20C-C, 20S, 65 and PTEC.
Payments - Payments of $750 or more must be made electronically. Do not mail Form 20-E if the payment was remitted electronically.
Standard Deduction - The standard deduction has been increased for some taxpayers up to a maximum of $7,500, depending on the adjusted gross income and filing status of the taxpayer. The standard deduction remains at $2,000 or $4,000 for other taxpayers whose incomes exceed certain income thresholds. See the Standard Deduction Chart for this new change.
Dependent Exemption - The dependent exemption has been increased for some taxpayers up to a maximum of $1,000 per dependent, depending upon the adjusted gross income of the taxpayer. The dependent exemption remains at $300 per dependent for other taxpayers whose incomes exceed certain income thresholds.
New Dependent Exemption Chart For 2007 and Forward
Dependent Exemption
Electronic Filing Now Includes Part-Year Residents - Taxpayers who moved to Alabama during 2007 may now electronically file their part-year resident returns. This is the first year the e-file option has been available to part-year residents.
Donation Checkoffs for Form 40 and 40A - Alabama Alternative Fuels Fund donation option has been added to the Schedule DC.
Online Filing of Extension (Form 4868A) - You may now request an extension for a single six month period and file your Form 4868A Online for Forms 40, 40A and Form 40NR by visiting https://www.alabamainteractive.org/taxextension/. There is NO CHARGE for this service.
Estimates - You may now file and pay your estimated tax electronically by visiting https://www.alabamainteractive.org/taxestimation/
Form 40V - If making a payment with your return, you MUST complete Form 40V. Submit Form 40V along with your payment, loose in the envelope with your return. If you electronically filed your return and are making a payment by check or money order, you must complete a Form 40V. If you are making a payment by credit card or E-Check, a Form 40V is not required.
Credit Card Payments - You may be able to use your credit card to pay your tax liability with Official Payments Corporation or Link 2 Gov. You may choose to use your Discover/Novus, MasterCard, Visa or American Express card. There is a convenience fee for these services that is paid Official Payments Corporation or Link 2 Gov.
- Official Payments Corporation: Visit www.officialpayments.com or call 1-800-272-9829. If you choose to use the phone method, you will need to enter the Alabama Jurisdiction Code which is 1100.
- Link2Gov: Visit www.ALTaxPayment.com or call 1-866-972-9829.
Online Filing of Extension - You can file your Form 4868A Online for Forms 41 and 65 by visiting https://www.alabamainteractive.org/taxextension/. There is NO CHARGE for this service.
Extension - Subchapter K entities filing Form 65 and Subchapter S corporations filing Form 20S should use Form 20E to file an extension if money is due to Alabama. Filing Form 20E will also, automatically extend the filing date for Form PTE-C as well. Do not use Form 4868A.
Form 65 and Form 20S may also be extended by filing a Federal Form 7004 if no money is due Alabama. However, the entity must include a copy of the Form 7004 and check the box on the face of the return to receive credit for the federal extension.
Form PTE-C - no longer serves as an extension form
Form 20E - is use to extend a Form PTE-C and include payment of taxes due Alabama. An extension is granted only for filing the return. Taxes are due on the original due date.
Estimated Payments - Estimated payments for Form PTEC and Form 20S must be made using the business income tax voucher Form BIT-V.
Return Payments - Payment of amounts over $750 must be made electronically. Payment of amounts less than $750 made with the Form 20S and Form PTEC must be accompanied by the business income tax voucher Form BIT-V. The voucher is available under Forms at www.revenue.alabama.gov.
Withholding Booklet - Effective January 15, 2008, the withholding booklet has been revised. An updated copy can be downloaded at http://www.revenue.alabama.gov/Withholding/index.html
Bulk Filer Registration for Accountants and Tax filing Services - Effective April 7, 2008, accountants or tax filing services who file withholding tax returns and payments on behalf of employers must register with the Department as a bulk filer and must utilize their bulk filer registration when filing withholding tax returns on behalf of their clients.
Updated last: March 19, 2008
