Title
Amending Chapter 19-500 of The Philadelphia Code, entitled "Taxes and Rents - General," by adding required conditions and information for reporting adjustments to taxable income, under certain terms and conditions.
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Chapter 19-500 of The Philadelphia Code is amended to read as follows:
TITLE 19. FINANCE, TAXES AND COLLECTIONS
* * *
CHAPTER 19-500. TAXES AND RENTS - GENERAL
* * *
? 19-515. Changes Made by Federal Government
(1) Definitions. The following definitions shall apply to this Section:
(a) Final Determination means an adjustment to a taxpayer's federal taxable income from an initial filing that has been resolved through any of the following circumstances:
(.1) The taxpayer has final income tax liability resulting from a federal audit including any requisite review by the U.S. Department of Justice or congressional Joint Committee on Taxation and has not timely filed a petition for redetermination or claim for refund for any portion of the audit.
(.2) The taxpayer has signed all Internal Revenue Service (IRS) Forms 870, closing agreement(s), or other IRS forms(s) for the tax period, consenting to the deficiency or consenting to any over-assessment that is final for all issues and no longer subject to appeal.
(.3) A decision of the United States Tax Court, a United States District Court or Court of Appeals, the United States Court of Claims or the United States Supreme Court has become final.
(b) Report of Change means such form or other documentation as may be established by the Department by regulation used by a taxpayer in order to report additional Philadelphia tax due, request a claim for refund or credit of Philadelphia tax paid, or make other adjustments to Philadelphia tax reports as a result of a Final Determination.
(2) Whenever a Final Determination ...
Click here for full text