Streamlined Requirements For Business Partnerships
In an effort to better serve taxpayers, the Arizona Department of Revenue under Governor Ducey’s administration is undertaking a thorough examination of its business processes and the requirements placed on taxpayers. As a result of this review, the department has determined that for the roughly 100,000 business partnerships filing Arizona income tax returns each year, it is no longer necessary to submit costly and burdensome federal supporting documentation, i.e., federal forms and schedules, which can vary from 10 to 500 pages per return. Faster, more efficient ways exist to verify that taxpayers are lawfully filing returns, such as querying federal tax data and, in some cases, requiring taxpayers to submit supporting documentation as part of routine audits. This change will save taxpayers time when filing tax returns as well as printing and postage costs.