Idaho Bills

Amends existing law to provide that a taxpayer's sworn statement that an expenditure was made for an identified deduction is conclusive proof to establish the taxpayer's right to the deduction.

This legislation would clarify that a credit card statement or other documentation from a financial institution, coupled with a sworn statement from the taxpayer to the effect that the expense was incurred for an identified deduction purpose, conclusively establishes the taxpayer's right to claim the deduction or credit.

Amends existing law to revise provisions regarding the accrual of interest on income and sales tax deficiencies.

This legislation would limit the time frame during which interest accrues where a tax deficiency is found by excluding interest during two periods of time: 1) The period of time after the state tax commission sends written notice that an audit is being initiated, but before the issuance of a notice of deficiency determination, and 2) The period of time after a notice of deficiency determination, which is subject to a perfected protest and before the final determination of the deficiency by the state tax commission following the state tax commission’s disposition of the protest.