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Multistate Tax Alert: District of Columbia Office of Tax and Revenue Extends Time to File FAS 109 Worksheet


On September 14, 2011, the Fiscal Year 2012 Budget Support Act of 2011 required combined reporting in the District of Columbia (“District”) for tax years beginning after December 31, 2010.  On January 20, 2012, the District’s Office of Tax and Revenue (“OTR”) published proposed regulations with respect to combined reporting. 

The OTR issued a second notice on August 31, 2012, amending the originally proposed regulations (the “revised proposed regulations”). Under revised proposed District of Columbia Municipal Regulation § 9-175 (FAS 109 Deduction), any taxpayer intending to claim the FAS 109 deduction would have been required to file with the Chief Financial Officer on or before September 15, 2012, a FAS 109 Worksheet specifying the total amount of the deduction to be claimed. On September 5, 2012, the OTR issued Notice 2012-07, stating that it will amend the revised proposed regulations to extend the due date for the FAS 109 Worksheet to the due date for the 2012 Franchise Tax Returns.  

Please see the attached Tax Alert for more information on Notice 2012-07.