MONTGOMERY – The Alabama Department of Revenue (ALDOR) recently announced that the deadline to make the election to be taxed at the entity level for certain pass-through entities has been extended to Aug. 15.
This entity-level tax election is being implemented for the first time for the 2021 tax year, so ALDOR wants to help those that showed an intention to make the election but erroneously failed to do so through My Alabama Taxes.
ALDOR will recognize elections to be taxed at the entity level that are filed using My Alabama Taxes no later than August 15, 2022, as elections validly made by the due date for those pass-through entities who:
- Timely filed the required entity and member tax returns, as if the election had been properly made for the year;
- Timely made an electing pass-through entity extension payment; or
- Made an entity-level tax payment prior to the due date of the respective return.
For additional guidance and FAQ on the pass-through entity election or assistance with My Alabama Taxes on making this election:
- Contact the ALDOR Pass-through Entity Tax Section at 334-242-1033.
- Visit https://www.revenue.alabama.gov/notice-alabama-electing-pass-through-entity-tax-act-guidance/
For help with My Alabama Taxes, click here https://www.revenue.alabama.gov/help-center/
Original source can be found here.
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